Louisiana Foreclosure Activity Rises in April

Statewide foreclosure filings up 28 percent from March

 

Monthly foreclosure activity in Louisiana increased in April, up 28 percent from the previous month to 1,849 properties with foreclosure filings. This latest state total also represents a 64 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Louisiana foreclosures were up in April,” said James J. Saccacio, chief executive officer of RealtyTrac. “The biggest increase was in auctions, which climbed 54 percent for the month. While its unemployment rate remains low, home sales have declined during the fourth quarter of last year when they have picked up in most other states. This has likely contributed to the recent rise.”

 

Louisiana ranked 32nd in the country in total foreclosures reported for the month. With one in every 1,018 housing units receiving a foreclosure filing, its foreclosure rate ranked 36th among the 50 states.

 

Saint Tammany Parish posts top foreclosure rate for April

Saint Tammany Parish posted the highest parish foreclosure rate in Louisiana for April, with one in every 312 housing units receiving a foreclosure filing — 3.3 times the state average. Orleans Parish came in second, with one in every 465 housing units receiving a foreclosure filing — 2.2 times the state average. Jefferson Parish was third, with one in every 551 housing units receiving a foreclosure filing — 1.9 times the state average.

 

Jefferson Parish led the state in total foreclosures for April

Jefferson Parish led the way in total foreclosures, reporting 329 properties with foreclosure filings for the month. Saint Tammany posted the second highest foreclosure total, documenting 310 properties with foreclosure filings. Reporting 278 properties with foreclosure filings for the month, East Baton Rouge Parish ranked third highest. Orleans Parish was fourth, reporting 246 properties with foreclosure filings. A total 122 properties with foreclosure filings were reported in Lafayette, the fifth highest county total in April.

 

State contributes 1 percent to nation’s month foreclosure total

Louisiana accounted for 1 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 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: DefaultNotice 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 – April 2010

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Louisiana

0

318

0

1,127

404

1,849

1,018

0.38

n/a

 

 

 

 

 

 

 

 

 

 

Saint Tammany

0

118

0

159

33

310

312

1.24

3.26

Orleans

0

0

0

202

44

246

465

0.83

2.19

Jefferson

0

1

0

228

100

329

465

0.83

2.19

Livingston

0

44

0

22

3

69

675

0.57

1.51

East Baton Rouge

0

18

0

182

78

278

677

0.57

1.50

 

 

 

Louisiana Top Foreclosure Totals by Parish – April 2010

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 10

% Chg Feb 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Louisiana

0

318

0

1,127

404

1,849

1,018

28.05

64.36

 

 

 

 

 

 

 

 

 

 

Jefferson

0

1

0

228

100

329

551

-0.30

115.03

Saint Tammany

0

118

0

159

33

310

312

100.00

158.33

East Baton Rouge

0

18

0

182

78

278

677

38.31

-12.85

Orleans

0

0

0

202

44

246

465

72.03

-20.39

Lafayette

0

51

0

52

19

122

739

16.19

293.55

 

 

 

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