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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 trouble lender that received a loan of more then four billions US dollars, and finally became a reason 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. This transaction was very successful - on one hand Countrywide Financial avoided the bankruptcy, on the other hand Bank of America got more power as a financial institution.

Nowadays you can find Countrywide foreclosed homes or Bank of America foreclosure homes on many internet portals. Many sites provide foreclosure listings as paid serivice, but you can easily find wellknown web resources where foreclosure listings is totally free including bank foreclosures homes, government foreclosures, HUD foreclosures, 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.

Just imagine, that this operation let the BofA have its own part in 25% of mortgage home loans in the United States. The situation described is just one example out of millions of cases, when financial institution gets substantial advantages after creating trouble loans. These loans are also known as subprime loans, of course this situation attracted a lot of attention, all problem lenders were investigated. Normally as a source of money for mortgages banks use the money saved on deposit accounts by clients. But Countrywide Financial works according the different scheme, it borrows money on the Wall Street, so it receives amount of money enough to invest it in mortgages, and after all sell these loans on secondary market.

These transactions are repeated over and over, which enables the parts get their profit. This scenario worked great until we faced the mortgage crisis. Countrywide Financial got under the control of Bank of America, more over the BofA obtained around 5800 branches located in 31 different states in US.

Also Bank of America controls 700 loan offices and 200 banking centres situated all over the United States of America.
Taking into account that almost all borrowers loose their homes at the end, this investment is very profitable operation for Countrywide Financial executives.
The next step of BofA will let more then 260 thousand borrowers with problem loans save their real estate. It will happen owing to modifying more then 40 billion US dollars of mortgages. All this is supposed to to be realized during the next two years. A great amount of problem borrowers results into increase of Countrywide REO homes number.

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