Foreclosure Auction of Nearly 600 Phoenix Area Homes Likely to Spark Buying Frenzy...

Foreclosure Auction of Nearly 600 Phoenix Area Homes Likely to Spark Buying
Frenzy Over Five Days

Bank-Owned Homes Auctioned by Hudson & Marshall January 20th - 22nd and
January 24th and 25th

PHOENIX, Jan. 12 /PRNewswire-USNewswire/ -- Rapidly falling home prices and
mounting foreclosures have taken the wind out of the Phoenix housing market
but for buyers in pursuit of discounted property the forecast is full of
opportunity. America's leading foreclosure auction firm, Hudson & Marshall
will auction nearly 600 Phoenix area bank-owned homes January 20th-22nd, 24th
and 25th. Valued from $21,000 to nearly $600,000, all homes come with title
insurance paid for by the sellers.

"Over the past year, we've seen more owner-occupant buyers taking advantage of
the country's declining home prices by attending our auctions," said Dave
Webb, principal of Hudson & Marshall. "Buyers know their money typically can
buy them more home for less at auction because the banks are highly motivated
to find new owners for these foreclosures," added Webb.

Overbuilding and the high default rate on subprime adjustable rate mortgages
toppled Arizona's housing market. Phoenix is the nation's weakest housing.
According to S&P/Case Shiller Home Price Indices, in 2008 Phoenix reported an
annual home price decline of 32.7%. Arizona also was one of nine states
reporting foreclosure starts above the national average for the third quarter
of 2008, according to the Mortgage Bankers Association.

Bidders at the Phoenix auction will be required to make a $5,000 deposit in
the form of cash, cashier's check or certified funds for each property which
they are the winning bid. Properties are sold "as-is" and buyers should
inspect homes prior to auction. Property may be viewed during the open house
on January 17th and 18th from 1:00 pm-3:00 pm or by contacting listing agents
for an appointment. Property details and additional information may be found
at www.hudsonandmarshall.com or by calling 866-539-4172.

Hudson & Marshall will auction the Texas homes on the following dates:
January 20th - Phoenix (89 homes) at 6:00 pm at the Hilton Scottsdale Resort
January 21st - Phoenix (92 homes) at 6:00 pm at the Hilton Scottsdale Resort
January 22nd- Phoenix (94 homes) at 7:00 pm at the Hilton Scottsdale Resort
January 24th - Phoenix (174 homes) at 1:00 pm at the Hilton Scottsdale Resort
January 25th - Phoenix (130 homes) at 1:00 pm at the Hilton Scottsdale Resort

Prior to auction, buyers can purchase property online by visiting the website
and clicking on the Bid-Now icon. Sellers typically respond to offers within
24 hours. This is a reserve auction, which means sellers have the right to
accept, reject or counter any bid; however, in past auctions conducted by
Hudson & Marshall, the majority of offers have been accepted.

Having sold over 70,000 homes for sellers in the past eight years, Hudson &
Marshall of Texas, Inc is the most experienced, trusted leader in the REO
auction industry. The company's accelerated sales process enables it to
swiftly and efficiently sell large volumes of property in a way that minimizes
expenses for sellers and maximizes return. Over the past five years alone,
Hudson & Marshall's total sales have topped $1.2 billion and the company
anticipates selling another 30,000 homes through 2009.

About Hudson & Marshall of Texas Inc.
H&M is America's Premier Auction Authority. Our 40-year history combined with
our continued process enhancements have allowed us to become one of the
largest and most respected real estate auction firms in the United States. H&M
has set the standard as a full service auction company and continues to
consistently raise the bar for our industry. Our number one priority is to
provide top-quality service to our customers. Buyers know they can count on
H&M to provide value and service from the initial property offering through
the closing process. This same approach provides sellers with a one stop
single solution to the disposition of real estate assets. Sellers particularly
appreciate H&M's streamlined approach that handles their assets from marketing
through closing and funding. The H&M process allows the seller to minimize
expenses and maximize return. H&M has assisted clients ranging from
individuals to large, medium, and small corporations, government agencies, and
financial institutions. Recently, H&M has sold and closed over 70,000 homes
throughout the country. See more about H&M at www.hudsonandmarshall.com.

SOURCE Hudson & Marshall of Texas Inc.

Crystal Wright, +1-202-829-0848, for Hudson & Marshall of Texas Inc.