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If we compare the assets of banks, then we can say, that the greatest bank is Bank of America.
Almost everybody have heard about Countrywide Financial - the institution that received a loan of around 4 billions USD, and finally became a reason 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 transaction was very successful - on one hand Countrywide Financial avoided the bankruptcy, on the other hand Bank of America got more influence on foreclosure market.

Nowadays you can find Countrywide foreclosure homes or Bank of America foreclosure 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 foreclosures homes, 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.

Just imagine, that this operation let the BofA have its own part in 25% of mortgage home loans in the United States. This case is simply one example out of great number of cases, when financial institution gets substantial advantages after dealing with trouble lenders. Such kind of 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 obtains amount of money enough to invest it in mortgages, and finally sell these home mortgages on secondary market.

These transactions are repeated again and again, which gives a chance the parts get their additional money. This cycle worked great until we faced the mortgage crisis. Countrywide Financial got under the control of Bank of America, more over the BofA obtained around 5800 branches located in 31 different states in US.

Also Bank of America posseses 700 loan offices and 200 banking centres situated all over the United States of America.
Taking into account that a lot of borrowers loose their real estate at the end, this acquisition is very successful operation for Countrywide Financial executives.
The next step of BofA will allow around 260 thousand borrowers with problem loans keep their homes. It will happen after modifying more then 40 billion US dollars of mortgages. All this is supposed to happen during the upcoming two years. A number of borrowers with bad debts leads to increase of Countrywide REO amount.

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