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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 organization that took a loan of around four billions US dollars, and finally caused for a mortgage crisis. Exactly the Bank of America invested the money in stock capital of 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 was saved from financial fail, on the other hand Bank of America improved its positions on market.

Nowadays you can find Countrywide REO or BofA bank owned properties on many internet portals. Many sites provide foreclosure listings as paid serivice, but you can easily find trusted web resources where foreclosed homes is absolutelly free including bank owned homes, government foreclosures, HUD homes 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.

Take into account, that this operation let the BofA have its own part in 25% of home loans in the US. The situation described is only one example out of thousands of cases, when financial institution gets 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 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 after all sell these home mortgages on foreclosure market.

These transactions are held again and again, which gives a chance the investors and borrowers get their profit. This scheme worked without problems until we faced the mortgage crisis. After the Countrywide Financial became the part of the Bank Of America, the latter obtained over 5800 branches situated in 31 different states in US.

More over Bank of America unites 700 loan offices and 200 banking centres situated all over the United States of America.
Taking into account that a number of borrowers loose their houses at the end, this investment is highly successful operation for Countrywide Financial executives.
The next step of BofA will allow more then 260 thousand borrowers with bed debts save their houses. It will happen owing to modifying more then 40 billion US dollars of mortgages. All this is planned to to be realized during the upcoming two years. A great amount of borrowers with bad debts leads to increase of Countrywide foreclosed properties amount.

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