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Trulia displays property data from RealtyTrac. RealtyTrac is data mining company. They mine data from the public records. The RealtyTrac data contains homes in the foreclosure process. The amount you see associated with any of these properties is the default amount on the loan. That amount is not a sales price.
So the general public looking at properties on Trulia, encounter a RealtyTrac property react like they hit the pick six in the megalotto.
Tulia and RealtyTrac are not the "MLS", they are not Brokers and they do not have access to "MLS" The properties Trulia displays is at the pleasure of the few broker who submit their data to Trulia. In other words - Trulia does have all the houses listed for sale.
There are a number of situations where the sellers can amend the defaulted loan: pay it off, short sell, etc. If not, it will go to auction and most likely get a bid for fair market value ($1M+). If it doesn't get auctioned, the bank can foreclose the property. If the bank takes ownership of the property, they can sell it themselves, again for fair market value.