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The largest US bank - the Bank of America is found in Charlotte, N.C..
Almost everybody knows about Countrywide Financial - the trouble lender that obtained a loan of around 4,1 billions USD, 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. This transaction was very successful - on one hand Countrywide Financial avoided the bankruptcy, on the other hand Bank of America got more power as a financial institution.

Nowadays you can find Countrywide REO homes or BofA foreclosures on many internet portals. Many sites provide foreclosure listings as paid serivice, but you can easily find trusted web resources where foreclosure listings is in free access including bank owned homes, government foreclosures, HUD foreclosures 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.

Just imagine, that this deal let the BofA have its own part in 25% of mortgage home loans in the US. The transaction described above is just one example out of great number of cases, when organisation gets substantial advantages after financing problem loans. Such kind of loans are also known as subprime loans, of course this situation attracted a lot of attention, all problem lenders were investigated. The main source of financial resources for loans is the money saved on deposit accounts by clients. But Countrywide Financial has another scheme for its operations, 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 mortgages on foreclosure market.

These transactions are held again and again, which enables the lenders and borrowers get their additional money. This scheme worked without problems until we faced the mortgage crisis. Countrywide Financial got under the control of Bank of America, more over the BofA became the owner of over 5800 branches located in 31 different states in US.

Also Bank of America unites 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 homes at the end, this acquisition is highly successful transaction for Countrywide Financial executives.
The next step of BofA will allow around 260 thousand borrowers with problem loans save their homes. It will happen due to modifying more then 40 billion US dollars of mortgages. All this is supposed to to be held during the following two years. A big number of borrowers with bad debts results into increase of Countrywide foreclosures number.

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