Colony Ridge is a significant residential development located in unincorporated Liberty County, Texas, approximately 30 miles northeast of Downtown Houston. The development has faced substantial scrutiny and legal action. The U.S. Department of Justice, along with the Consumer Financial Protection Bureau, has accused Colony Ridge of employing predatory lending practices, including bait-and-switch sales tactics and predatory financing. These allegations focus on the developer targeting Latino homebuyers with misleading advertisements and high-pressure sales tactics, leading to high foreclosure rates. Additionally, Texas Attorney General Ken Paxton has sued Colony Ridge for deceptive trade practices, claiming the business model relies on a cycle of selling, foreclosing, and reselling properties Colony Ridge is home to a large, predominantly Hispanic population, with many residents being undocumented immigrants from Latin America. The community has been described as both a place offering affordable land and homeownership opportunities for hardworking families and as a controversial area due to claims of being a magnet for illegal immigration and crime, though local law enforcement and residents dispute some of these characterization
Unfortunately for us undocumented migrants & Colony Ridge isn't held to the same set of rules, laws & regulations as the rest of us tax paying citizens.
Not verifying applicants' reported income, charging 10.9-12.9% interest. All these companies accepting Colony Ridge cash mortgage payments should be investigated for wire fraud & money laundering.
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