At a board meeting yesterday, the Fund administration said the request for proposals for the sell-off has been issued.
Fund Chairman Juan T. Guerrero said the agency’s housing program had been frozen since Oct. 2007.
“The climate is wrong. Our emphasis is to protect our assets,” he said.
The value of real estate in the commonwealth sharply shrunk over time due to the economic slump and residents with mortgage continue to experience difficulty paying their loans.
As of last year, the Fund had close to $50 million in total investments in the local market, including housing loans to its members. (Gemma Q. Casas)
