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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 around 4,1 billions dollars, and finally caused for a mortgage crisis. Exactly the Bank of America financed this 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. 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 got more power as a financial institution.

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

Take into account, 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 thousands of cases, when bank gets substantial advantages after dealing with trouble lenders. These loans are also called subprime loans, of course this situation attracted a lot of attention, all owners of subprime loans were investigated. 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 receives amount of money enough to invest it in mortgages, and after all sell these mortgages on mortgage market.

These transactions are held again and again, which enables the investors and borrowers get their profit. This cycle worked great until we faced the mortgage crisis. Countrywide Financial got under the control of Bank of America, more over the BofA got under its control over 5800 branches situated in 31 different states in US.

Also Bank of America unites 700 loan offices and 200 banking centres situated all over the United States of America.
Taking into consideration that almost all borrowers loose their houses at the end, this input of money is highly profitable deal for Countrywide Financial executives.
The next step of BofA will give a chance around 260 thousand borrowers with bed debts keep their houses. It will happen owing to modifying more then 40 billion US dollars of mortgages. All this is supposed to to be held during the next two years. A great amount of clients with problem loans results into increase of Countrywide foreclosed homes amount.

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