CLEVELAND, Oct 31, 2008 /PRNewswire-USNewswire via COMTEX/ -- Hudson & Marshall Will Auction Homes Owned by National Lenders on November 4th - 9th in Select Cities

In today's feeble housing market, hampered by record numbers of unsold homes, buyers are finding an abundance of deals at bank-owned foreclosure auctions. Real estate auctions expose buyers to a multitude of homes that lenders are eager to sell at discounted prices to avoid the long-term carrying costs of holding these properties. On November 4th-9th, Hudson & Marshall will auction nearly 500 foreclosed homes in cities throughout Ohio and Pennsylvania. More than 150 homes will be auctioned in Cleveland on November 8th.

"Purchasing foreclosed property through auction is a win-win for buyers. The homes are usually sold below market value and always come with guaranteed title insurance paid for by the sellers," said Dave Webb, Principal, Hudson & Marshall.

The auction process is easy. No pre-registration is required. Buyers register the day of the auction. Hudson & Marshall's staff will guide prospective buyers through every step of the process from bidding to closing. All homes are sold "as-Is" and buyers are encouraged to inspect properties prior to placing bids. An open house is scheduled for November 1st and 2nd from 1:00pm-3:00pm. A complete list of properties and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

According to Realtytrac(R), Ohio's foreclosure rate ranked 7th in the nation in September with one in every 440 households reporting a filing. Pennsylvania's foreclosure rate earned it the 31st spot among states with one in every 1,302 households reporting a foreclosure filing during September.

Hudson & Marshall will auction the Ohio and Pennsylvania homes on the following dates:

November 4th - Philadelphia (8 homes); Scranton, PA (14 homes); Cincinnati (40 homes)

November 5th - Dayton (49 homes); Columbus (48 homes); Harrisburg, PA (8 homes)

November 6th - Marion, OH (9 homes); Toledo (34 homes); Pittsburgh (30 homes)

November 7th - Freemont/Sandusky, OH (8 homes); Youngstown (26 homes)

November 8th - Cleveland (167 homes)

November 9th - Akron/Canton (43 homes)

Prior to auction, buyers can purchase property online by visiting the website and clicking on the Bid-Now icon. Sellers usually 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.