Attorney General Ken Paxton Sues Colony Ridge for Fraudulent Practices That Enabled Major Problematic Real Estate Development to Flourish
Attorney General Ken Paxton Sues Colony Ridge for Fraudulent Practices That Enabled Major Problematic Real Estate Development to Flourish
Source: Montgomery County Police Reporter
Date: 03/15/2024 7:36am
Article Summary:
Texas Attorney General Sues Colony Ridge for Fraudulent Real Estate Practices
Texas Attorney General Ken Paxton has filed a lawsuit against the Colony Ridge development in Liberty County for deceptive trade practices, fraud in real estate transactions, and other violations of Texas and federal law. The sprawling development northeast of Houston has been accused of targeting foreign-born and Hispanic consumers with false promises of cheap, ready-to-build land and financing, leading to a foreclosure rate 50 times higher than the national average. Paxton stated that the development's predatory practices have caused significant harm to nearby communities and violated Texas law.
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Date: 03/15/2024 7:36am
Article Summary:
Texas Attorney General Sues Colony Ridge for Fraudulent Real Estate Practices
Texas Attorney General Ken Paxton has filed a lawsuit against the Colony Ridge development in Liberty County for deceptive trade practices, fraud in real estate transactions, and other violations of Texas and federal law. The sprawling development northeast of Houston has been accused of targeting foreign-born and Hispanic consumers with false promises of cheap, ready-to-build land and financing, leading to a foreclosure rate 50 times higher than the national average. Paxton stated that the development's predatory practices have caused significant harm to nearby communities and violated Texas law.
Read article here »