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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 trouble lender that received a loan of around four 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. Both sides had their own advantages in this purchase operation - on one hand Countrywide avoided the total financial collapse, on the other hand Bank of America got more influence on foreclosure market.

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

Just imagine, that this operation let the BofA have its own part in 25% of home mortgages in the US. This case is simply one example out of a number of cases, when bank wins huge advantages after financing problem loans. These 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 operates on Wall Street as a borrower, so it gets amount of money enough to invest it in mortgages, and finally sell these home mortgage loans on foreclosure market.

These transactions are held over and over, which gives a chance the lenders and borrowers get their profit. This cycle worked great until we faced the mortgage crisis. After becoming the owner of Countrywide Financial the Bank of America got under its control over 5800 branches situated in 31 different states in US.

Also Bank of America controls 700 loan offices and 200 banking centres located all over the United States of America.
Taking into consideration that almost all borrowers loose their real estate at the end, this investment is very profitable transaction for Countrywide Financial executives.
The activity which BofA is planning to undertake now will give a chance more then 260 thousand borrowers with bed debts save their real estate. 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 upcoming two years. A rising amount of borrowers with bad debts leads to increase of Countrywide REO homes amount.

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