Hudson & Marshall To Auction Nearly 70 Chicago Homes As Part Of Community Revitalization Effort

Valued from $10,000 to $340,000, Homes Come with Guaranteed Title Insurance Paid for by Seller and Will Be Auctioned August 22nd

To help reinvigorate Chicago area neighborhoods impacted by the foreclosure crisis, Hudson & Marshall will auction nearly 70 bank-owned Chicago properties to buyers searching for affordable housing. The auction will be held August 22nd at 1:00 pm at the Marriott Burr Ridge. Through its Alliance Network Program, Hudson & Marshall will offer several community outreach initiatives aimed at buyers, investors and tenants.

Launched in 2009, Hudson & Marshall's Alliance Network Program leverages relationships with local organizations in cities where the company conducts auctions to expand the number of qualified buyers looking for affordable homes. The program also connects investors to tenants in need of housing.

Each property auctioned comes with guaranteed title insurance paid for by the seller and sales typically close within 30 days. Interested buyers will be required to make a cash or certified check deposit of $2,500 for each property for which they are the winning bidder. Bidders may register the day of the auction with a government issued ID.

'In these challenging economic times, families more than ever are searching for affordable housing. Hudson & Marshall is proud to partner with local groups on sustainable programs which help identify buyers to turn foreclosed properties into homes and help breathe new life into Chicago neighborhoods. This is a first step toward stabilizing home values across the country,' remarked Dave Webb, principal, Hudson & Marshall.

Before the auction, the Chicago Urban League will join Hudson & Marshall in hosting a series of pre-auction educational workshops on responsible homeownership and understanding the auction process. Each seminar also will offer attendees the opportunity to participate in mock auctions to practice bidding and become more comfortable with the process.

Auction Seminars will be offered on the following dates:

August 16th at 6:00 pm at the Marriott Southwest at Burr Ridge

August 18th at 7:00 pm at the Chicago Urban League

August 22nd at 11:00 am at the Marriott Southwest at Burr Ridge

From foreclosure prevention, to mortgage, home buying, and rental counseling, the Chicago Urban League offers a variety of homeownership services to aid underserved communities and is a HUD certified agency. As part of the Alliance Network Program, mortgage lenders will participate in the pre-auction seminars to provide information and answer questions on financing. A contractor, who is a member of APD Solutions' network of real estate and housing industry professionals, will also join in the seminars to offer investors rehabilitation tips for turning property purchased through auction into income producing rental investments. APD Solutions (APDS) is a national neighborhood revitalization firm providing community development services and strategies to local governments, lenders and institutional investors.

All the homes are sold 'as-is' and buyers should inspect properties before placing any bids. Buyers may view homes during the open house scheduled August 15th and 16th from 1:00 pm- 3:00 pm 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.

This is a reserve auction, which means sellers have the right to accept, reject or counter any winning 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.

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.