A lawsuit filed in federal court accuses a Texas firm of preying on would-be homebuyers in Atlanta.
The suit, filed in U.S. District Court, includes 17 plaintiffs, who say they were misled by Harbour Portfolio and associated companies into thinking they were becoming owners when they signed agreements that effectively made them renters.
Harbour targeted black areas with the deals, known as “contracts for deed” or “land contracts,” which gave the plaintiffs “all of the obligations of homeownership with none of the rights,” according to the filing.
Officials at Dallas-based Harbour were unavailable for comment Wednesday.
Several years ago, the company purchased thousands of foreclosed homes in a number of cities. They still own scores of homes in Atlanta, virtually all of them in African-American neighborhoods, according to Kristen Tullos, an attorney with Atlanta Legal Aid, which is representing the plaintiffs. (Atlanta Journal-Constitution)