Bank Owned One family home for sale in Newburg. Deck, Fireplace, Parking: Garage|For Sale: Y, Ownership: Fee Simple, Locale Listing Status: ACTIVE, Listing Status: Active, Last Update Type: MEDIA, Dining Kitchen: September Dining Rm, Handicap: None, Style: Cottage, Parking: Unpaved, SystemLocale: MRIS, Cooling: Central Air conditioner|Roof type: Composition, Stories: 2, Unit count: 1. 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.