Foreclosures being sold for $100 to the plaintiff...What does this mean?

[Larry K.]

I have been tracking the foreclosure sales in my target county (Passaic County, NJ) and am seeing of those that are "open" (many are adjourned) most are being sold to the plaintiff for $100. I suppose this means the lender ultimately did not sell the property at the sheriffs sale.

Any insight to what this means?
Meaning, do you think there were bidders and the bank thought the bids were too low so they refused them all and ended up back with the property?
Or were there not any bidders?
Or something else?

I wish I could make it to the courthouse to see for myself but my job prevents it.

[Account Closed]

means the first bid got the house....nobody thought the house was worth 110 dollars. Economy is tough right now and nobody wants the liability of having houses that are awful.

Sorry my sense of humor, ignore the top.

The bank bought it back for the first bid, nobody wanted to bother bidding since most banks disclose their final bid amount. If the house is worth 50k and they will bid up to 120k, whats the point of bidding to 40k or whatever. Hurry up lets bid on the next house.