Bank Owned One family home for sale in Lebanon. Flooring: Other||Exterior material: Other, Roof type: Other, Room count: 7, Stories: 2, Structure type: Other. 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.