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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 have heard about Countrywide Financial - the trouble lender that got a loan of more then 4,1 billions dollars, and finally became a reason for a mortgage crisis. Exactly the Bank of America financed this loan for Countrywide Financial.
As Countrywide Financial failed to pay back, Bank of America became the biggest foreclosure lender in the country. This transaction was very successful - on one hand Countrywide was saved from financial fail, on the other hand Bank of America improved its positions on market.

Nowadays you can find Countrywide REO or BofA foreclosed properties on many internet portals. Many sites provide foreclosure listings as paid serivice, but you can easily find wellknown web resources where foreclosure listings is totally free including bank owned homes, government foreclosures, HUD foreclosures 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 America. The situation described is just one example out of millions of cases, when organisation wins huge advantages after financing problem loans. Such kind of loans are also known as subprime loans, of course this situation attracted a lot of attention, all owners of subprime loans were investigated. The main source of financial resources for loans is the money saved on deposit accounts by clients. But Countrywide Financial has another scheme for its operations, it operates on Wall Street as a borrower, so it obtains amount of money enough to invest it in mortgages, and after all sell these mortgages on foreclosure market.

These transactions are repeated again and again, which gives the possibility the lenders and borrowers get their additional money. This scheme worked great until we faced the mortgage crisis. After becoming the owner of Countrywide Financial the Bank of America became the owner of over 5800 branches located in 31 different states in US.

Also Bank of America controls 700 loan offices and 200 banking centres located all over the United States of America.
Taking into account that a number of borrowers loose their houses at the end, this acquisition is very profitable transaction for Countrywide Financial executives.
The activity which BofA is planning to undertake now will give a chance around 260 thousand borrowers with problem loans keep their houses. It will happen owing to modifying more then 40 billion US dollars of mortgages. All this is supposed to to be realized during the next two years. A great amount of clients with problem loans results into increase of Countrywide foreclosures number.

Search for thousands of Countrywide REO and foreclosure properties nationwide.