Wednesday, March 4, 2009

Hudson & Marshall Launches Community Outreach Program to Attract More Families in Need of Housing to Its Auctions

/PRNewswire/ -- In an effort to help reduce the surplus of vacant homes sitting on the market, Hudson & Marshall developed the Alliance Network Program to attract more buyers and tenants in search of affordable housing to its auctions. The program will be an integral part of Hudson & Marshall's auction of over 300 bank-owned foreclosures in Atlanta on March 13th -15th.

This community outreach initiative leverages relationships with local organizations in cities where H&M conducts auctions not only to expand the number of qualified owner-occupant buyers, particularly first time buyers, looking for discounted homes but also connect investors with tenants in need of homes. Hudson & Marshall first launched the Alliance Network Program in January at its Detroit auction and will offer it in other cities throughout the year.

"The program reflects the company's growing desire to help communities turn around their local housing markets by providing greater access to housing opportunities to people in need of homes," remarked Dave Webb, principal, Hudson & Marshall. "This is a complete housing solution, connecting homebuyers with homes and investors with resources they need to turn their purchases into revenue generating properties," added Webb.

As part of Hudson & Marshall's Atlanta Alliance Network program, the company will encourage investors attending the Atlanta auction, who are in search of tenants, to list their properties with the Atlanta Housing Authority (AHA) database. Through its Quality of Life Initiative (QLI), the AHA no longer places low-income families in conventional public housing projects but instead offers families housing throughout mixed income neighborhoods in Atlanta. As part of the QLI, the Department of Housing and Urban Development (HUD) provides families with Section 8 rental vouchers for up to 80% of a monthly market rate rent, which is paid directly to a landlord.

HomeFree USA will also refer qualified homebuyers and tenants from their program to the Atlanta auction. Since 1995, HomeFree USA has educated over 20,000 families about credit, mortgage financing and homeownership and helped more than 2,400 families purchase homes. Additionally, HomeFree USA has maintained a zero foreclosure rate among its members, due to its unparalleled model for providing pre-purchase counseling and education and post-purchase follow-up.

Other components of Hudson & Marshall's community outreach program in Atlanta include inviting property managers and contractors to the auction as resources for investor buyers who need to make improvements to their properties. Several banks also will be at the auction to offer finance options to prospective buyers and answer questions about home loans.

All the homes being auctioned in Atlanta come with title insurance paid for by the sellers, ensuring there are no back taxes or liens on the property. Buyers will be required to make a $2,500 deposit in the form of a certified check or cash for each property which they are the winning bidder.

Properties are sold "as-is" and buyers should inspect homes prior to auction. Homes may be viewed during the open house scheduled for March 7th and 8th from 1:00 p.m. - 3:00 p.m. or by contacting listing agents for an appointment. 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:

March 13th - Atlanta (80 homes) at 1:00 p.m. - Atlanta Marriott Northwest
March 14th - Atlanta (139 homes) at 1:00 p.m. - Atlanta Marriott Northwest
March 15th - Atlanta (100 homes) at 1:00 p.m. - Atlanta Marriott Northwest


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 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.

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