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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 organization that took a loan of around 4 billions USD, 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 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 homes or Bank of America foreclosures 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 owned homes, government foreclosures, HUD homes, 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.

We have to underline, that this deal let the BofA have its own part in 25% of home mortgages in the United States. This case is simply one example out of millions of cases, when bank wins substantial advantages after creating trouble loans. Such kind of loans are also known as subprime loans, of course this situation attracted a lot of attention, all owners of trouble loans were investigated. 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 gets amount of money enough to invest it in mortgages, and after all sell these mortgages on secondary market.

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

More over Bank of America posseses 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 real estate at the end, this acquisition is highly successful deal for Countrywide Financial executives.
The next step of BofA will let around 260 thousand borrowers with problem loans keep their homes. 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 big number of problem borrowers leads to increase of Countrywide REO homes number.

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