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A property preservation company with business in Texas charges Bank of America with fraud and deceit, breach of contract, and unjust enrichment in a civil suit in California.
Diversified Field Services of Tustin, California which maintains foreclosed properties for banks says in the lawsuit that Bank of Americasigned DFS toa contract tomaintainrepossessedhomes in 14 states last year.
The company says it spent nearly$2million preparing for thework, but that the work never came.
Homeowners are not the only victims of this [mortgage] crisis; it extends to firms like DFS and onward to the mom-and-pop businesses who actually mow the lawns and clean the countless homes that now sit empty, said DFS attorney Eric Goodman.
DFS also alleges B ofA publicly misrepresentedthe quality of the work DFS did,destroying itsbusiness and ruining its reputation.
DFS also alleges the bank never paid it for nearly $400,000 in work that it did do. The suit seeks unspecified damages.
Bank of America says it has not seen the civil suit, filed in Orange County, and cannot comment on it.