Foreclosure Home Housing & Foreclosure Reports Louisiana Foreclosure Activity Rises in January

Louisiana Foreclosure Activity Rises in January

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Statewide filings up 27 percent from December

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,870 Louisiana properties in January, a 27 percent increase from December, but still 12 percent below the level reported for January 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Louisiana had the 22nd highest foreclosure rate, reporting one in every 1,051 Louisiana housing units with a foreclosure filing in January.

Saint Tammany Parish posts top foreclosure rate in the state for January
 One in every 366 housing units in Saint Tammany Parish had a foreclosure filing in January — 1.7 times the national average and 2.9 times the state average — the highest foreclosure rate of all Louisiana counties for the month. Ascension Parish had the second highest rate of one in every 458 housing units with a foreclosure filing during the month — 1.4 times the national average and 2.3 times the state average. Saint Charles Parish had the third highest rate of one in every 474 housing units with a foreclosure filing during the month — 1.3 times the national average and 2.2 times the state average.

Jefferson Parish leads state in foreclosure activity in January
 Jefferson Parish led all counties, reporting 265 properties with foreclosure filings for the month. Saint Tammany Parish had the second highest total, reporting 261 properties with foreclosure filings. East Baton Rouge Parish was third, reporting 223 properties with foreclosure filings. Fourth highest was Orleans Parish, recording 195 properties with foreclosure filings. Lafayette Parish was fifth highest, tallying 155 properties with foreclosure filings for the month.

State a moderate contributor to total foreclosure activity in January
 Louisiana accounted for 1 percent of the 210,941 properties with foreclosure filings reported nationwide in January. Total U.S. activity increased by 3 percent from December, but was still down over 19 percent from the level reported in January 2011. One in every 624 U.S. housing units received a foreclosure filing during the month.

“Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said Brandon Moore, CEO of RealtyTrac. “Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Michigan, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts.

“We expect the pattern of increasing foreclosures to continue in the coming months, especially given the finalized mortgage and foreclosure settlement reached in early February between 49 state attorneys general and five of the nation’s largest lenders,” Moore continued. “The settlement sets forth clear guidelines for lenders and servicers to follow when foreclosing, which should allow them to push through some of the delayed foreclosures from last year. Other roadblocks to foreclosure are still in place at the state level, however, including legislation altering the foreclosure process and lawsuits against lenders. We expect to see somewhat uneven trends in local and regional foreclosure numbers going forward as lenders work through these additional legislative and legal roadblocks.”

 

Louisiana Top Foreclosure Rates By Parish – January 2012

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

n/a

n/a

Louisiana

0

393

0

1,000

477

1,870

1,051

0.59

n/a

 

 

 

 

 

 

 

 

 

 

Saint Tammany

0

86

0

112

63

261

366

1.71

2.87

Ascension

0

0

0

83

6

89

458

1.36

2.29

Saint Charles

0

28

0

8

6

42

474

1.32

2.22

Livingston

0

28

0

50

13

91

551

1.13

1.91

Lafayette

0

58

0

63

34

155

604

1.03

1.74

Louisiana Top Foreclosure Totals by Parish – January 2012

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X   HU (rate)

% Chg   Dec 11

% Chg   Jan 11

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

2.89

-19.28

Louisiana

0

393

0

1,000

477

1,870

1,051

26.78

-11.92

 

 

 

 

 

 

 

 

 

 

Jefferson

0

120

0

87

58

265

714

-2.93

-18.46

Saint Tammany

0

86

0

112

63

261

366

26.70

-15.26

East Baton Rouge

0

0

0

166

57

223

840

19.25

-9.35

Orleans

0

0

0

112

83

195

974

16.07

-40.91

Lafayette

0

58

0

63

34

155

604

142.19

56.57

 


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