The Foreclosure Report

Auction Business "Booming" In Indiana

The Star Press reports from Indiana. "The rising rate of foreclosed homes in Delaware County has already prompted more sheriff's sales, and now a private auction company has scheduled a foreclosure sale. Large national auction company Hudson and Marshall will conduct an auction of foreclosed homes Thursday."

"Seventeen homes will be auctioned in Muncie, but business is booming for the auction company, which is selling more than 400 single-family homes in several states in the next few days."

"The Star Press previously reported on the growing number of sheriff's sales of foreclosed homes in Delaware County. Through September, 564 homes were listed for sheriff's sales compared to 594 in all of 2005."

"Texas-based Hudson and Marshall, a 40-year veteran of the auction business, has scheduled auctions of more than 400 homes in Indiana, Illinois, Ohio and Pennsylvania through Nov. 1."

"The Star Press has reported that the area was high in state and national rankings for risky loans that can sometimes lead to foreclosures. Hudson and Marshall cited those loans in its press release announcing Thursday's sale."

posted by Ben Jones @ 1:50 PM