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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 knows about Countrywide Financial - the organization that received a loan of around 4,1 billions american dollars, and finally became a reason for a mortgage crisis. Exactly the Bank of America provided the 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 avoided the total financial collapse, on the other hand Bank of America got more influence on foreclosure market.

Nowadays you can find Countrywide bank owned homes or BofA foreclosure homes on many internet portals. Many sites provide foreclosure listings as paid serivice, but you can easily find wellknown web resources where bank foreclosures is absolutelly free including REO properties, government foreclosures, HUD foreclosures, 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 deal let the BofA have its own part in 25% of mortgage home loans in the US. The transaction described above is simply one example out of millions of cases, when financial institution gets substantial advantages after dealing with trouble lenders. Such kind of loans are also known as subprime loans, of course this situation attracted a lot of attention, all problem lenders were investigated. The main source of financial resources for loans is 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 receives amount of money enough to invest it in mortgages, and finally sell these home mortgages on mortgage market.

These transactions are repeated again and again, which enables the investors and borrowers get their profit. This scheme worked without problems until we faced the mortgage crisis. After becoming the owner of Countrywide Financial the Bank of America obtained over 5800 branches located in 31 different states in US.

More over Bank of America owns 700 loan offices and 200 banking centres located all over the United States of America.
Taking into account that almost all borrowers loose their real estate at the end, this investment is very profitable operation for Countrywide Financial executives.
The next step of BofA will let more then 260 thousand borrowers with problem loans save their houses. It will happen as a result of modifying more then 40 billion US dollars of mortgages. All this is supposed to to be held during the next two years. A rising amount of borrowers with bad debts results into increase of Countrywide foreclosure properties amount.

Search for thousands of Countrywide foreclosure listings and REO homes nationwide.