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Acquired Property Net
 6 Months Ended
Jun. 30, 2013
Real Estate [Abstract]  
Acquired Property, Net
Acquired Property, Net
Acquired property, net consists of held-for-sale foreclosed property received in full satisfaction of a loan, net of a valuation allowance for declines in the fair value of the properties after initial acquisition. We classify properties as held-for-sale when we intend to sell the property and are actively marketing it for sale. The following table displays the activity in acquired property, net of the related valuation allowance, for the three and six months ended June 30, 2013 and 2012.
 
 
For the Three Months Ended June 30,
 
For the Six Months
Ended June 30,
 
 
2013
 
2012
 
2013
 
2012
 
 
(Dollars in millions)
Balance as of beginning of period
 
$
10,149

 
$
10,619

 
$
10,489

 
$
11,373

Additions
 
4,087

 
4,162

 
7,763

 
7,867

Disposals
 
(3,845
)
 
(4,261
)
 
(7,746
)
 
(8,561
)
Write-downs, net of recoveries
 
(125
)
 
(133
)
 
(240
)
 
(292
)
Balance as of end of period(1)
 
$
10,266

 
$
10,387

 
$
10,266

 
$
10,387

__________
(1) 
Includes valuation allowance of $540 million and $648 million as of June 30, 2013 and 2012, respectively.