Bank Owned One family home for sale in Brownwood. Bedrooms: 7, Bathrooms: 4.00, Living space: 4316, Land area: 338w x 348d, Yr constructed: 1926. Properties that are taken into a bank's inventory, after a foreclosure sale. Bank-owned property is aquired by a financial institution when a homeowner does not make their mortgage payments. These properties then sell at a discounted price, much lower than current home prices.