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If we compare the assets of banks, then we can say, that the greatest bank is Bank of America.
Everyone have heard about Countrywide Financial - the trouble lender that received a loan of around 4 billions american dollars, and finally became a reason for a mortgage crisis. Exactly the Bank of America financed this 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. This transaction was very successful - on one hand Countrywide avoided the total financial collapse, on the other hand Bank of America got more power as a financial institution.

Nowadays you can find Countrywide foreclosure properties or Bank of America bank owned properties on many internet portals. Many sites provide foreclosure listings as paid serivice, but you can easily find wellknown web resources where foreclosed homes is in free access including REO homes, government foreclosures, HUD houses for sale, tax liens, 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.

It is important to mention, that this transaction let the BofA have its own part in 25% of home mortgages in the America. The transaction described above is just one example out of great number of cases, when financial institution wins substantial advantages after creating trouble loans. These loans are also known as subprime loans, of course this situation attracted a lot of attention, all owners of trouble loans were checked. The main source of financial resources for loans is the money saved on deposit accounts by clients. But Countrywide Financial acts in different way, it takes loans on the Wall Street, so it gets amount of money enough to invest it in mortgages, and finally sell these home mortgages on foreclosure market.

These transactions are repeated over and over, which gives the possibility the lenders and borrowers get their additional money. This scheme worked without problems until we faced the mortgage crisis. After becoming the owner of Countrywide Financial the Bank of America became the owner of 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 almost all borrowers loose their homes at the end, this investment is highly successful transaction for Countrywide Financial executives.
In the nearest plans of BofA is to take a decision which will let around 260 thousand borrowers with problem loans save their real estate. It will happen after modifying more then 40 billion US dollars of mortgages. All this is planned to happen during the upcoming two years. A rising amount of clients with problem loans results into increase of Countrywide foreclosed properties amount.

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