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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 organization that took a loan of around four billions american dollars, and finally caused for a mortgage crisis. Exactly the Bank of America invested the money in stock capital of 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 was saved from financial fail, on the other hand Bank of America got more power as a financial institution.

Nowadays you can find Countrywide bank foreclosures or Bank of America foreclosure homes on many internet portals. Many sites give access to foreclosure listings as paid serivice, but you can easily find wellknown web resources where foreclosed homes is absolutelly free including REO properties, government foreclosures, HUD houses for sale, tax liens, 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 home loans in the United States. The situation described is only one example out of a number of cases, when organisation gets huge advantages after financing problem loans. Such kind of loans are also called subprime loans, of course this situation attracted a lot of attention, all owners of subprime loans were checked. The main source of financial resources for loans is the money saved on deposit accounts by clients. But Countrywide Financial has another scheme for its operations, it takes loans on the Wall Street, so it gets amount of money enough to invest it in mortgages, and finally sell these mortgages on secondary market.

These transactions are held again and again, which gives the possibility the lenders and borrowers get their profit. This scenario worked without problems 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 situated in 31 different states in US.

More over Bank of America owns 700 loan offices and 200 banking centres situated all over the United States of America.
Taking into consideration that a lot of borrowers loose their homes at the end, this acquisition is very successful deal for Countrywide Financial executives.
The activity which BofA is planning to undertake now will give a possibility more then 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 planned to to be held during the following two years. A big number of borrowers with bad debts leads to increase of Countrywide foreclosed homes number.

Search for thousands of Countrywide foreclosures and REO properties nationwide.