Texas Scorecard by Brandon Waltens | December 20, 2023
The lawsuit attacks the “predatory seller financing” used by the development. The Department of Justice has filed a lawsuit against the Colony Ridge housing development, accusing the developers of using “bait and switch” predatory loans.
Located northeast of Houston in Liberty County, Colony Ridge has been criticized for marketing to illegal aliens and potentially attracting cartel activity to the area.
Notably, Terrenos Houston, the marketing program for Colony Ridge, advertises to potential buyers that they do not require traditional bank loans, nor do they need Social Security numbers or a proven job history. Instead, they operate through owner-financed lots for illegal aliens who don’t qualify for certain loans.
The lawsuit, filed in the Southern District of Texas, says the developers have “lured tens of thousands of Hispanic consumers into using predatory seller financing to purchase land, promising they would ‘Logra el sueño Americano aqui!!’ (“Achieve the American dream here!!’)”
More:
https://texasscorecard.com/federal/doj-sues-illegal-alien-housing-development-colony-ridge/
