Mutual Benefit Life Insurance Co.'s plan to halt payments covering interest shortfalls on about $800 million of municipal bonds may have little impact on bondholders for at least the near future, trustees for several housing projects financed by the bonds said yesterday.

Trustees for some of the 44 tax-exempt housing bond issues backed by the failed insurer said they feel confident that project revenues would cover at least the next semiannual interest payment.

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