P.R. Laws tit. 17, § 865
2019-02-20 00:00:00+00
In the event of noncompliance by the mortgagor, the mortgagee shall promptly notify this fact to the Agency in writing. When such a notice is received, the Agency shall determine the course of action to be followed by the mortgagee. When it is deemed viable and for a provisional period after the noncompliance or threat of noncompliance by the mortgagor, the Agency may make the corresponding payments on the mortgage to the mortgagee, and said payments shall be repaid under the terms determined by the Agency. Once the mortgagee complies with all the requirements imposed by the Agency, pursuant to the Regulations, he/she shall be entitled to receive the insurance benefits authorized by this chapter.
History —July 26, 1995, No. 86, § 5.