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If we compare the assets of banks, then we can say, that the greatest bank is Bank of America.
A lot of people knows about Countrywide Financial - the financial institution that got a loan of more then 4 billions US dollars, and finally caused for a mortgage crisis. Exactly the Bank of America invested the money in stock capital of Countrywide Financial.
As Countrywide Financial failed to pay back, Bank of America became the biggest foreclosure lender in the country. This acquisition was advantageous for both sides - on one hand Countrywide Financial avoided the bankruptcy, on the other hand Bank of America improved its positions on market.

Nowadays you can find Countrywide foreclosures or BofA REO on many internet portals. Many sites give access to foreclosure listings as paid serivice, but you can easily find wellknown web resources where bank foreclosures is for free including bank foreclosures homes, government foreclosures, HUD foreclosures for sale, tax foreclousres, FHA foreclosures, VA foreclosures, 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.

It has to be stressed out, that this transaction let the BofA have its own part in 25% of home mortgages in the United States. The situation described is only one example out of a number of cases, when bank gets huge advantages after dealing with trouble lenders. These loans are also called subprime loans, of course this situation attracted a lot of attention, all owners of subprime loans were investigated. Normally as a source of money for mortgages banks use the money saved on deposit accounts by clients. But Countrywide Financial has another scheme for its operations, it borrows money on the Wall Street, so it receives amount of money enough to invest it in mortgages, and finally sell these mortgages on secondary market.

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

More over Bank of America owns 700 loan offices and 200 banking centres situated all over the United States of America.
Taking into account that a number of borrowers loose their real estate at the end, this acquisition is highly successful deal for Countrywide Financial executives.
The next step of BofA will allow more then 260 thousand borrowers with problem loans keep their houses. It will happen due to modifying more then 40 billion US dollars of mortgages. All this is supposed to to be held during the next two years. A great amount of problem borrowers results into increase of Countrywide REO amount.

Search for thousands of Countrywide foreclosure listings and foreclosure properties nationwide.