A dismissal without prejudice is a dismissal of the plaintiff's case, but the plaintiff is allowed to bring a new suit on the same claims. Basically, the judge is tell the plaintiff to perfect the title work and then come back.
You may want to consult a local attorney so you will be prepared if they do file again.
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Not sure of the specifics of your case but a dismissal without prejudice means the case (or affirmative defenses) can be refiled. As opposed to a dismissal with prejudice which means the defenses cannot be raise again. More information would have been helpful. Whose affirmative defenses were dismissed, the banks or yours.
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This means that the Court is dismissing the claims "otherwise than on the merits". This allows the Plaintiff to refile the suit, generally speaking, within one year of the dismissal. You may want to consult with an attorney prior to the suit being refiled as there are procedural defenses which may be available.