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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 have heard about Countrywide Financial - the trouble lender that obtained a loan of more then four billions dollars, and finally caused for a mortgage crisis. Exactly the Bank of America provided the loan for Countrywide Financial.
As Countrywide Financial failed to pay back, Bank of America became the biggest foreclosure lender in the country. This transaction was very successful - on one hand Countrywide managed to continue its existance within the other institution, on the other hand Bank of America improved its positions on market.

Nowadays you can find Countrywide foreclosure homes or Bank of America REO 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 for free including bank owned properties, government foreclosures, HUD homes 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.

Just imagine, that this deal let the BofA have its own part in 25% of mortgage home loans in the America. This case is just one example out of great number of cases, when bank wins 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 owners of subprime loans were checked. Normally as a source of money for mortgages banks use 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 home loans on secondary market.

These transactions are held again and again, which gives a chance the investors and borrowers get their profit. This scheme worked great until we faced the mortgage crisis. After becoming the owner of Countrywide Financial the Bank of America received in its property around 5800 branches located in 31 different states in US.

Also Bank of America owns 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 houses at the end, this investment is very profitable deal for Countrywide Financial executives.
In the nearest plans of BofA is to take a decision which will enable around 260 thousand borrowers with bed debts save their houses. It will happen due to modifying more then 40 billion US dollars of mortgages. All this is supposed to to be realized during the upcoming two years. A big number of clients with problem loans results into increase of Countrywide REO homes amount.

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