Louisiana Foreclosure Activity Up in February

Statewide filings increase 16 percent from January; Up 106 percent from February 2009

 

Foreclosure activity in Louisiana increased in February to 1,399 properties with foreclosure filings, up 16 percent from the previous month and 106 percent above the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Louisiana foreclosures were up in February,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in auctions, which climbed 57 percent during the month. Home sales throughout the state decreased last quarter while they picked up in most other places. This is likely contributing to the rise.”

 

Louisiana ranked 32nd in the country in total foreclosures reported for the month. With one in every 1,346 housing units receiving a foreclosure filing, its foreclosure rate ranked 37th among the 50 states.

 

Saint Charles Parish posts top foreclosure rate in the state for February

Saint Charles Parish posted the state’s highest parish foreclosure rate in February, with one in every 291 housing units receiving a foreclosure filing — 4.6 the state average. Orleans Parish was second, with one in every 561 housing units receiving a foreclosure filing — 2.4 times the state average. Saint Tammany Parish came in third highest, with one in every 636 housing units receiving a foreclosure filing — 2.1 times the state average.

 

East Baton Rouge Parish led the state in total foreclosures in February

East Baton Rouge Parish led the way, totaling 218 properties with foreclosure filings for the month. Jefferson Parish was second, documenting 217 properties with foreclosure filings. Orleans Parish ranked third highest, reporting 204 properties with foreclosure filings for the month. Saint Tammany Parish came in fourth place, reporting 152 properties with foreclosure filings, while the fifth highest total was in Lafayette Parish, where 107 properties with foreclosure filings were reported for the month.

 

State contributes less than 1 percent to nation’s month foreclosure total

Louisiana accounted for less than 1 percent of the 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 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 – February 2010

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

n/a

n/a

Louisiana

0

265

0

856

278

1,399

1,346

0.31

n/a

 

 

 

 

 

 

 

 

 

 

Saint Charles

0

69

0

0

0

69

291

1.44

4.63

Orleans

0

0

0

186

18

204

561

0.75

2.40

Saint Tammany

0

68

0

62

22

152

636

0.66

2.12

Tangipahoa

0

38

0

19

16

73

694

0.60

1.94

Livingston

0

19

0

22

22

63

739

0.57

1.82

 

 

 

Louisiana Top Foreclosure Totals by Parish – February 2010

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Jan 10

% Chg

Feb 09

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

-2.28

6.22

Louisiana

0

265

0

856

278

1,399

1,346

16.39

106.34

 

 

 

 

 

 

 

 

 

 

East Baton Rouge

0

1

0

182

35

218

864

65.15

165.85

Jefferson

0

2

0

151

64

217

836

4.83

41.83

Orleans

0

0

0

186

18

204

561

14.61

3.03

Saint Tammany

0

68

0

62

22

152

636

-33.91

123.53

Lafayette

0

43

0

48

16

107

843

46.58

365.22

 

 

 

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