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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 have heard about Countrywide Financial - the financial institution that received a loan of more then four billions american dollars, and finally became a reason for a mortgage crisis. Exactly the Bank of America invested the money in stock capital of 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. Both sides had their own advantages in this purchase operation - on one hand Countrywide managed to continue its existance within the other institution, on the other hand Bank of America got more influence on foreclosure market.

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

It has to be stressed out, that this acquisition let the BofA have its own part in 25% of home loans in the US. The transaction described above is just one example out of great number of cases, when bank wins substantial advantages after dealing with trouble lenders. Such kind of 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 operates on Wall Street as a borrower, so it obtains amount of money enough to invest it in mortgages, and after all sell these home mortgages on foreclosure market.

These transactions are held over and over, which enables the lenders and borrowers get their additional money. This cycle worked great until we faced the mortgage crisis. After becoming the owner of Countrywide Financial the Bank of America obtained around 5800 branches located 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 account that almost all borrowers loose their real estate at the end, this input of money is very profitable transaction for Countrywide Financial executives.
The activity which BofA is planning to undertake now will give a possibility around 260 thousand borrowers with problem loans 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 happen during the next two years. A big number of problem borrowers results into increase of Countrywide REO number.

Search for thousands of Countrywide REO and foreclosure homes nationwide.