Louisiana Foreclosure Activity Declines in January

Statewide filings down 24 percent from December

 

Foreclosure activity in Louisiana decreased in January to 1,202 properties with foreclosure filings, a 24 percent decline from December 2009, but still up 148 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Louisiana reported a significant drop in foreclosure filings for January, though activity remained well above what was seen at this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “One related cause for concern among Louisiana homeowners is the state’s declining job market as unemployment has grown to 7.5 percent.”

 

One in every 1,567 Louisiana housing units received a foreclosure filing in January, the 38th highest foreclosure rate in the nation.

 

Saint Tammany Parish posts top foreclosure rate for January

Saint Tammany Parish posted the state’s highest parish foreclosure rate in January, with one in every 421 housing units receiving a foreclosure filing. Livingston Parish had the second highest foreclosure rate, with one in every 568 housing units receiving a foreclosure filing. Orleans Parish was third, with one in every 643 housing units receiving a foreclosure filing. Jefferson Parish came in fourth highest, with one in every 876 housing units receiving a foreclosure filing. Tangipahoa Parish posted the fifth highest foreclosure rate, where one in every 889 housing units received a foreclosure filing during the month.

 

Saint Tammany Parish led the state in total foreclosure filings for January

Saint Tammany Parish also led the state in terms of total foreclosure filings in January, reporting 230 properties with foreclosure filings for the month. Jefferson Parish had the second highest foreclosure total, documenting 207 properties with foreclosure filings. Orleans Parish had the third highest total, reporting 178 properties with foreclosure filings for the month. East Baton Rouge Parish came in fourth highest, reporting 132 properties with foreclosure filings, followed by Caddo Parish where 85 properties with foreclosure filings were reported.

 

State a minor contributor to nation’s foreclosure total in January

Louisiana accounted for less than 1 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Louisiana Top Foreclosure Rates By Parish – January 2010

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Louisiana

0

324

0

546

332

1,202

1,567

0.26

n/a

 

 

 

 

 

 

 

 

 

 

Saint Tammany

0

177

0

13

40

230

421

0.96

3.72

Livingston

0

56

0

7

19

82

568

0.71

2.76

Orleans

0

0

0

96

82

178

643

0.63

2.44

Jefferson

0

0

0

146

61

207

876

0.46

1.79

Tangipahoa

0

44

0

1

12

57

889

0.46

1.76

 

 

Louisiana Top Foreclosure Totals by Parish – January 2010

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Louisiana

0

324

0

546

332

1,202

1,567

-23.63

147.84

 

 

 

 

 

 

 

 

 

 

Saint Tammany

0

177

0

13

40

230

421

-2.13

187.50

Jefferson

0

0

0

146

61

207

876

-16.87

204.41

Orleans

0

0

0

96

82

178

643

-31.54

52.14

East Baton Rouge

0

1

0

126

5

132

1,427

-46.99

46.67

Caddo

0

0

0

39

46

85

1,338

8.97

142.86

 

 

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