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The largest US bank - the Bank of America is found in Charlotte, N.C..
Everyone have heard about Countrywide Financial - the institution that got a loan of around 4,1 billions USD, and finally created a basics for a mortgage crisis. Exactly the Bank of America provided the 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 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 homes or BofA bank owned properties on many internet portals. Many sites give access to foreclosure listings as paid serivice, but you can easily find trusted web resources where bank foreclosures is in free access including bank owned properties, government foreclosures, HUD homes for sale, tax liens, 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.

We have to underline, that this acquisition let the BofA have its own part in 25% of home mortgages in the United States. This case is just one example out of thousands of cases, when organisation wins huge advantages after financing problem loans. These loans are also called subprime loans, of course this situation attracted a lot of attention, all owners of subprime loans were investigated. The main source of financial resources for loans is the money saved on deposit accounts by clients. But Countrywide Financial works according the different scheme, it operates on Wall Street as a borrower, so it gets amount of money enough to invest it in mortgages, and finally sell these home loans on secondary market.

These transactions are repeated again and again, which gives a chance the investors and borrowers get their additional money. This scheme worked great until we faced the mortgage crisis. After becoming the owner of Countrywide Financial the Bank of America became the owner of over 5800 branches situated in 31 different states in US.

More over 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 real estate at the end, this acquisition is highly successful deal for Countrywide Financial executives.
In the nearest plans of BofA is to take a decision which will let more then 260 thousand borrowers with problem loans keep their houses. It will happen as a result of modifying more then 40 billion US dollars of mortgages. All this is planned to to be realized during the next two years. A number of borrowers with bad debts results into increase of Countrywide foreclosure properties amount.

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