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Updated almost 8 years ago on . Most recent reply

User Stats

7
Posts
1
Votes
Enrique Caceres Jr
  • Flushing, NY
1
Votes |
7
Posts

Real Estate help in Puerto Rico

Enrique Caceres Jr
  • Flushing, NY
Posted

Hello everyone, I was wondering if you could refer me to a good real estate lawyer in Puerto Rico. (a little background) I recently became interested in real estate investing and have been doing a lot of self education. Shortly after this I asked my mother how she was fairing in her home. She retired from the US postal service to her hometown of Gurabo, PR in 2009. She was never a home owner and new nothing about the process and I myself was in the military at the time and could provide no help. She began to tell me a horror story where she seems to have fallen victim to some shady dealings. The house appraised for 180k in 2005. She paid 245k. She didn't find this out until recently, it wasn't disclosed to her that the home appraised so low. Doral bank (the original mortgage bank) went under and she received a letter from Banco Popular saying they now have the note. She hasn't missed a payment and had great credit (809). But she then found out her mortgage rate was 6%. My heart is breaking and I want to put her in touch with a trustworthy lawyer in her area which I would gladly pay for. At a minimum maybe the attorney could explain what happened and what recourse she has, if any. Even if her best bet is for me to purchase the home or let t go into foreclosure. I thankful for any help I get with this.

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