Land Developer, Colony Ridge, to Pay $68M to Settle Lawsuit Claiming Predatory Practices Targeted Hispanic Borrowers

The Department of Justice and Texas GOP leaders say a Liberty County land developer will pay $68 million to settle a lawsuit that claims predatory practices targeted Hispanic borrowers.  

The DOJ Civil Rights division found that Colony Ridge used deceptive bait and switch tactics like misrepresentations about flooding risks and financing without proof of income, increasing the possibility of default and foreclosure. 

Read more at KHOU11