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If we compare the assets of banks, then we can say, that the greatest bank is Bank of America.
Everyone have heard about Countrywide Financial - the financial institution that took a loan of around 4 billions USD, and finally created a basics for a mortgage crisis. Exactly the Bank of America invested the money in stock capital of Countrywide Financial.
Finally in summer 2008 BofA became an official owner of this huge bank and turned into the most powerful mortgage lender in the USA. This acquisition was advantageous for both sides - on one hand Countrywide avoided the total financial collapse, on the other hand Bank of America got more influence on foreclosure market.

Nowadays you can find Countrywide REO properties or BofA bank owned homes on many internet portals. Many sites give access to foreclosure listings as paid serivice, but you can easily find wellknown web resources where foreclosed homes is in free access including bank owned properties, government foreclosures, HUD houses for sale, tax foreclousres, FHA foreclosures, VA foreclosed homes, and other types of foreclosure properties. You can visit some of them:
www.indexpost.com - free foreclosure listings and bank foreclosures database;
www.reodev.com - REO properties and foreclosed homes listings for free.

Take into account, that this operation let the BofA have its own part in 25% of home loans in the United States. The situation described is simply one example out of a number of cases, when bank wins huge advantages after dealing with trouble lenders. These loans are also called subprime loans, of course this situation attracted a lot of attention, all problem lenders were experiencing a number of investigations. Normally as a source of money for mortgages banks use the money saved on deposit accounts by clients. But Countrywide Financial works according the different scheme, it takes loans on the Wall Street, so it obtains amount of money enough to invest it in mortgages, and after all sell these loans on foreclosure market.

These transactions are held again and again, which gives the possibility the investors and borrowers get their additional money. This scheme worked without problems until we faced the mortgage crisis. After the Countrywide Financial became the part of the Bank Of America, the latter obtained around 5800 branches located in 31 different states in US.

More over Bank of America unites 700 loan offices and 200 banking centres located all over the United States of America.
Taking into consideration that a number of borrowers loose their houses at the end, this acquisition is very successful transaction for Countrywide Financial executives.
The activity which BofA is planning to undertake now will give a chance more then 260 thousand borrowers with bed debts save their real estate. It will happen due to modifying more then 40 billion US dollars of mortgages. All this is supposed to happen during the upcoming two years. A rising amount of borrowers with bad debts leads to increase of Countrywide REO homes number.

Search for thousands of Countrywide foreclosures and REO properties nationwide.