Florida Real Estate Scam Targets Retired Navy Officer

There are many reasons to be careful with your Florida home loan. Be wary of the type of mortgage you sign up for - and, as Ronald Poole can attest to, keep your eye on real eestate scams.

The retired Navy serviceman was looking for ways to make a few extra dollars in the hot Florida real estate market.

“You want a better family life,” says Poole.

Poole says he went to several meetings with J.R. Parker, who is being prosecuted for his role in a multi-million dollar real estate fraud scheme.

“It sounded really good. They were pretty good,” says Poole.

There was no money out of pocket. Poole purchased four homes that were appraised way above market value. Steve Watrel is Poole’s attorney.

“They got property that was worthless,” says Watrel.

Watrel says his client believed the appraiser and the mortgage broker and the mortgage lender, all licensed profesisonals … but he was hoodwinked.

“They can’t just say they’re not part of it and walk out,” says Watrel.

There are 140 known victims in Jacksonville housing market, but there could there more. Consider this a lesson for all buyers. With so many experts giving real estate investing advice out there, be careful with who you trust