Nearly 200 Foreclosed Homes in DC, Maryland and Virginia Up for Auction

Valued from $19,000 to $640,000, Homes Will Be Auctioned June 3rd -June 6th in
the DC area, Baltimore, Norfolk, Richmond and Charlottesville

WASHINGTON, May 27 /PRNewswire-USNewswire/ -- Buyers combing the real estate
market for discounted property are purchasing foreclosures at a frenzied pace
because the prices are too good to pass up. According to the National
Association of Realtors (NAR), in the first quarter of 2009 about 30%-35% of
transactions have been foreclosures. Hudson & Marshall will auction about 200
bank-owned homes June 3rd- 6th located in the DC area, Baltimore, Norfolk,
Richmond and Charlottesville.

Interested buyers will be required to make a cash or certified check deposit
of $2,500 for each property which they are the winning bidder. A 5% buyer's
premium will be added to the sales price. During registration the day of the
auction, Hudson & Marshall's staff will explain to buyers how the process
works, answer questions and guide buyers through every step of the auction
from bidding to closing.

"The aggressive discounts the banks are offering on their REO properties is
the main reason foreclosed homes are appealing to a wide group of buyers.
Most bank-owned homes sold through auction also come with title insurance paid
for by the sellers, which makes buyers even more comfortable purchasing a
foreclosed property," said Dave Webb, principal, Hudson & Marshall.

The unprecedented escalation in home prices nationwide beginning in 2002 was
followed by a historic free fall in values beginning in 2006 when the surge in
defaults on subprime mortgages began flooding the market with foreclosures.
According to S&P/Case Shiller Home Price Indices, average home prices as of
March 2009 have sunk to levels in the fourth quarter of 2002. Home prices in
the first quarter of 2009, dropped by a staggering 9.1% compared to the first
quarter of 2008, marking the steepest decline in 21 years.

All homes being auctioned by Hudson & Marshall are sold "as-is" and buyers
should inspect properties before placing any bids. Buyers may view homes
during the open house scheduled May 30th and 31st from 1:00 p.m. - 3:00 p.m.
or by contact listing agents to make appointments. Complete property details
and additional information may be found at www.hudsonandmarshall.com or by
calling 866-539-4172.

Hudson & Marshall will auction the homes on the following dates:
June 4th -- Charlottesville (4 homes) at 7:00 p.m. -- Holiday Inn
Charlottesville-Monticello
June 4th -- Richmond (18 homes) at 12:00 p.m. -- Holiday Inn Richmond Airport
June 3rd -- Norfolk (29 homes) at 7:00 p.m. -- Norfolk Marriott Chesapeake
June 4th -- Baltimore (31 homes) at 7:00 p.m. -- Holiday Inn-BWI International
Airport
June 6th -- DC area (102 homes) at 1:00 p.m. -- Sheraton Premiere-Tysons
Corner

Prior to auction, buyers can purchase property online by visiting the Web site
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.
Auctioneer/Broker
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, crystal@bakerwright.com, for Hudson &
Marshall of Texas Inc.