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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.
A lot of people knows about Countrywide Financial - the financial institution that got a loan of around 4 billions american dollars, 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 Financial avoided the bankruptcy, on the other hand Bank of America got more influence on foreclosure market.

Nowadays you can find Countrywide foreclosures or BofA foreclosed homes on many internet portals. Many sites give access to foreclosure listings as paid serivice, but you can easily find trusted web resources where foreclosed homes is absolutelly free including bank foreclosures, government foreclosures, HUD foreclosures 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 transaction let the BofA have its own part in 25% of home mortgages in the US. This case is only one example out of millions of cases, when organisation gets substantial advantages after financing problem loans. These loans are also called subprime loans, of course this situation attracted a lot of attention, all problem lenders were experiencing a number of investigations. The main source of financial resources for loans is the money saved on deposit accounts by clients. But Countrywide Financial acts in different way, it borrows money on the Wall Street, so it obtains amount of money enough to invest it in mortgages, and after all sell these home mortgage loans on mortgage market.

These transactions are repeated again and again, which gives the possibility the investors and borrowers get their profit. 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 received in its property over 5800 branches located in 31 different states in US.

Also Bank of America posseses 700 loan offices and 200 banking centres located all over the United States of America.
Taking into account that a number of borrowers loose their houses at the end, this input of money is very profitable deal for Countrywide Financial executives.
The next step of BofA will allow more then 260 thousand borrowers with problem loans save their real estate. It will happen due 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 borrowers with bad debts leads to increase of Countrywide REO homes number.

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