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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 have heard about Countrywide Financial - the organization that got a loan of more then 4,1 billions american dollars, and finally became a reason 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. It was successful operation - 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 properties or Bank of America bank owned properties on many internet portals. Many sites give access to foreclosure listings as paid serivice, but you can easily find wellknown web resources where foreclosed homes is in free access including bank foreclosures homes, government foreclosures, HUD homes, 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.

It is important to mention, that this acquisition let the BofA have its own part in 25% of mortgage home loans in the United States. The transaction described above is only one example out of great number of cases, when organisation gets 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 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 takes loans on the Wall Street, so it gets amount of money enough to invest it in mortgages, and finally sell these mortgages on mortgage market.

These transactions are held over and over, which enables the investors and borrowers get their profit. This scheme 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 situated in 31 different states in US.

More over Bank of America controls 700 loan offices and 200 banking centres located all over the United States of America.
Taking into account that almost all borrowers loose their houses at the end, this acquisition is very profitable deal for Countrywide Financial executives.
The next step of BofA will enable around 260 thousand borrowers with bed debts keep their houses. 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 number of clients with problem loans results into increase of Countrywide foreclosure properties number.

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