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If you want to find the most important bank in USA, go to Charlotte, N.C. to Bank of America, which posses the highest assets.
Everyone knows about Countrywide Financial - the institution that got a loan of more then 4,1 billions USD, and finally caused for a mortgage crisis. Exactly the Bank of America financed this loan for Countrywide Financial.
As a result of this financial operation the bank of America became an owner of the greatest consumer bank all over United States. This acquisition was advantageous for both sides - on one hand Countrywide avoided the total financial collapse, on the other hand Bank of America got more power as a financial institution.

Nowadays you can find Countrywide foreclosed 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 totally free including bank owned foreclosures, government foreclosures, HUD homes, 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.

It is important to mention, that this deal let the BofA have its own part in 25% of home loans in the America. The transaction described above is just one example out of great number of cases, when bank wins 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 problem lenders were checked. Normally as a source of money for mortgages banks use the money saved on deposit accounts by clients. But Countrywide Financial acts in different way, it borrows money on the Wall Street, so it gets amount of money enough to invest it in mortgages, and after all sell these home loans on foreclosure market.

These transactions are repeated again and again, which enables the investors and borrowers get their additional money. This cycle worked without problems until we faced the mortgage crisis. After the Countrywide Financial became the part of the Bank Of America, the latter got under its control around 5800 branches located in 31 different states in US.

Also Bank of America posseses 700 loan offices and 200 banking centres situated all over the United States of America.
Taking into account that a lot of borrowers loose their real estate at the end, this input of money is highly successful deal for Countrywide Financial executives.
The next step of BofA will let around 260 thousand borrowers with problem loans keep their real estate. It will happen as a result of modifying more then 40 billion US dollars of mortgages. All this is supposed to happen during the following two years. A rising amount of problem borrowers leads to increase of Countrywide REO homes amount.

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