Answers by Marlyn Salva

In Puerto Rico we offer the same mortgage products as the US. In my experience: 1-FHA is often better if you have lower credit or no credit history, less savings, or higher debt ratios and need an easier approval. 2-Conventional is often better if you have stronger credit and at least some down payment, because it can be cheaper over time and mortgage insurance can eventually go away.

Not a scam, but certain things can go wrong. I work these type of transaction actively, as investor, as buyer or sellers agent or attorney: 1-Always use an attorney that represents your interest 2-Never leave a mortgage to your name, not for a month, a week or even 24 hours. Payment should be presented at closing for you or your attorney to cancel it. 3-Make sure HOA and Property Tax agencies get official notification and proof change of title to the buyers name.

Lawyer up. Paralyze the proceedings with your own adverse possession claim in probate court. After 20 years, you usually don´t need to proof good faith, but these days new regulations are being formulated so make sure to check those out. Most important, make sure you are ready to pay for property taxes, because I bet this is the cause of the city action.