Nearly 250 Foreclosed Homes Hit Auction Block in Indiana, Illinois, Minnesota and Wisconsin July 13th-17th

Over 100 Homes Auctioned in Chicago July 17th

CHICAGO, July 1 /PRNewswire-USNewswire/ -- Investors and first time homebuyers alike gravitate to foreclosure auctions because they have the opportunity to purchase a variety of homes at significant discounts. Hudson & Marshall will auction nearly 250 bank-owned homes July 13th-17th in cities throughout Indiana, Illinois, Minnesota and Wisconsin. Over 100 homes will be auctioned in Chicago July 17th.

Valued from as little as $8,000 to over $435,000, all homes up for auction come with an insurable title and no back taxes or liens. Buyers will be required to make a cash or certified check deposit of $2,500 for each property which they are the winning bidder.

"Foreclosures remain in high demand among buyers looking for great deals on property," said Dave Webb, principal Hudson & Marshall. "Buyers particularly like purchasing homes through auction because it is a transparent process in which a property's true market value is determined by the bidders and sales close within 30-45 days," added Webb.

According to Realtytrac, Illinois is one of ten states reporting a large volume of foreclosures in May. Illinois reported nearly 15,061 properties received a foreclosure notice in May, which accounted for nearly 5% of all foreclosures nationwide. This represents a 38% increase in Illinois' foreclosure activity from May 2009.

All homes being auctioned by Hudson & Marshall are sold "as-is" and buyers should inspect properties before placing any bids. Properties can be viewed during the open house scheduled Saturday, July 10th and Sunday, July 11 from 1:00pm-3:00pm or by contacting listing agents to schedule 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:

July 13th – Bloomington (4 homes) at 7:00pm-Holiday Inn Express Bloomington

July 14th –Collinsville, IL (7 homes) at 7:00pm-Four Points by Sheraton Fairview Heights

July 14th –Green Bay (6 homes) at 7:00pm-Hilton Garden Inn Green Bay

July 15th –Minneapolis (22 homes) at 7:00pm-Sheraton Bloomington Hotel

July 15th –Portage, WI (4 homes) at 2:00pm-Comfort Suites Portage

July 15th –Milwaukee (14 homes) at 7:00pm-Milwaukee Marriott West

July 15th –Fort Wayne (6 homes) at 11:00am-Courtyard Fort Wayne

July 15th –Indianapolis (30 homes) at 7:00pm-Indianapolis Marriott North

July 15th –Champaign (6 homes) at 1:00pm-Courtyard Champaign

July 15th –Peoria (6 homes) at 7:00pm-Courtyard Peoria

July 16th –Rockford (16 homes) at 11:00am-Hilton Garden Inn Rockford

July 17th –Chicago (118 homes) at 1:00pm-Chicago Marriott Southwest at Burr Ridge

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 80,000 homes for sellers in the past ten years, Hudson & Marshall, 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 $2.2 Billion and the company anticipates selling another 15,000 homes in 2010.

About Hudson & Marshall of Texas, Inc.

H&M is America's Premier Auction Authority. Our 45-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. Since 1999, H&M has sold and closed over 80,000 homes throughout the country. See more about H&M at www.hudsonandmarshall.com.

SOURCE Hudson & Marshall of Texas, Inc.