Homebuyers Will Find Bargains at Auction of Nearly 120 Foreclosed Homes Throughout...

Homebuyers Will Find Bargains at Auction of Nearly 120 Foreclosed Homes
Throughout Northeast

Homes Will Be Auctioned in New York City/Newark Area, Cherry Hill, Manchester,
Trenton and Hartford September 9th-12th

NEWARK, N.J., Sept. 4 /PRNewswire-USNewswire/ -- Sinking home prices have
buyers rushing to foreclosure auctions to scoop up the best deals on the
block. Saddled with large volumes of foreclosures, banks are aggressively
discounting their real estate owned (REO) property at auction to quickly sell
these homes. Hudson & Marshall will auction about 120 bank-owned homes in
cities throughout the Northeast and 50 of the homes will be auctioned in the
New York City and Newark area. Nearly 30 more homes will be auctioned on-site
at the property addresses, while another 17 homes will be offered exclusively
online through the company's website www.hudsonandmarshall.com.

Each property comes with title insurance paid for by the sellers. Interested
buyers may register the day of the auction and 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.

"As the nation's economic conditions remain challenging, homebuyers are
searching for the best values on the market. Buyers are gravitating to
foreclosure auctions like Hudson & Marshall's because they know their dollar
will buy them more home for less, even in today's depressed housing market,"
remarked Dave Webb, principal, Hudson & Marshall.

Across the country, buyers are responding to historically low home prices and
jumping back into the real estate market with zeal. According to the National
Association of Realtors (NAR) Pending Home Sales Index, contracts for pending
home sales continued their rising streak over the past six months.
Existing-home sales in the Northeast rose over 13% to an annual pace of
930,000 in July, 3% higher than July 2008 and according to NAR, the average
price of a home in the Northeast was $236,700.

All homes being auctioned are sold "as-is" and buyers should inspect
properties before placing any bids. Buyers may view homes by contacting
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 Northeastern homes on the following dates:
September 9th- Manchester, NH (8 homes)-Holiday Inn Manchester Airport
September 9th - Cherry Hill (3 homes)-Courtyard by Marriott-Mt. Laurel
September 10th-Hartford (6 homes)-Courtyard Hartford Farmington
September 10th - Trenton (5 homes)-Hilton Garden Inn-Hamilton
September 12th -NYC/Newark area (53 homes)-Sheraton Meadowlands Hotel &
Conference Center

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. Prospective
bidders should visit the website periodically to check for properties which
may have pre-sold prior to auction through the company's online bid program.

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 2010.

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