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If we compare the assets of banks, then we can say, that the greatest bank is Bank of America.
Everyone knows about Countrywide Financial - the financial institution that obtained a loan of around four billions american dollars, and finally caused for a mortgage crisis. Exactly the Bank of America provided the loan for Countrywide Financial.
Finally in summer 2008 BofA became an official owner of this huge bank and turned into the most powerful mortgage lender in the USA. It was successful operation - 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 foreclosure homes or Bank of America bank foreclosures on many internet portals. Many sites give access to foreclosure listings as paid serivice, but you can easily find wellknown web resources where foreclosure listings is in free access including REO properties, 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 acquisition let the BofA have its own part in 25% of home mortgages in the US. The situation described is only one example out of millions of cases, when bank 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 checked. Normally as a source of money for mortgages banks use the money saved on deposit accounts by clients. But Countrywide Financial acts in different way, it operates on Wall Street as a borrower, so it receives amount of money enough to invest it in mortgages, and after all sell these mortgages on mortgage market.

These transactions are repeated over and over, which gives the possibility the lenders and borrowers get their profit. This scheme 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 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 consideration that a number of borrowers loose their real estate at the end, this input of money is very successful operation for Countrywide Financial executives.
The activity which BofA is planning to undertake now will let around 260 thousand borrowers with problem loans save their homes. It will happen as a result of modifying more then 40 billion US dollars of mortgages. All this is planned to happen during the next two years. A great amount of problem borrowers leads to increase of Countrywide foreclosed homes amount.

Search for thousands of Countrywide foreclosed homes and foreclosure homes nationwide.