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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 institution that obtained a loan of more then 4,1 billions dollars, and finally created a basics 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 acquisition was advantageous for both sides - on one hand Countrywide managed to continue its existance within the other institution, on the other hand Bank of America got more power as a financial institution.

Nowadays you can find Countrywide bank owned homes or Bank of America bank foreclosures on many internet portals. Many sites provide foreclosure listings as paid serivice, but you can easily find trusted web resources where foreclosure listings is absolutelly free including bank foreclosures homes, 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.

Just imagine, that this deal let the BofA have its own part in 25% of mortgage home loans in the America. The transaction described above is simply one example out of great number of cases, when organisation wins huge advantages after creating trouble loans. These loans are also called subprime loans, of course this situation attracted a lot of attention, all problem lenders were checked. 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 gets amount of money enough to invest it in mortgages, and after all sell these loans on foreclosure market.

These transactions are held over and over, which gives a chance the lenders and borrowers get their profit. This scenario worked great until we faced the mortgage crisis. After the Countrywide Financial became the part of the Bank Of America, the latter got under its control around 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 consideration that a lot of borrowers loose their homes at the end, this input of money is highly successful transaction for Countrywide Financial executives.
The next step of BofA will give a chance more then 260 thousand borrowers with bed debts keep their real estate. It will happen owing to modifying more then 40 billion US dollars of mortgages. All this is planned to happen during the upcoming two years. A number of borrowers with bad debts leads to increase of Countrywide REO homes number.

Search for thousands of Countrywide foreclosed homes and REO properties nationwide.