Louisiana Foreclosure Activity Rises in August

Statewide  filings up 10 percent from July

Foreclosure  filings — default notices, scheduled auctions and bank repossessions — rose in  Louisiana, where 1,881 properties were reported in August, a 10 percent  increase from July and 21 percent above the level reported for August 2010, according to the latest RealtyTrac®  U.S. Foreclosure Market Report.

Louisiana had  the 29th highest foreclosure rate in the country with one in every 1,044  housing units with a foreclosure filing in August.

Saint Tammany Parish posts top foreclosure rate in the  state for August
  One in every 343 housing  units in Saint Tammany Parish received a foreclosure filing in August — 1.7  times the national average and three times the state average — the highest  foreclosure rate of all Louisiana parishes for the month. Livingston Parish had  the second highest rate of one in every 418 housing units with a foreclosure  filing during the month — 1.4 times the national average and 2.5 times the state  average. Jefferson Parish had the third highest rate of one in every 546  housing units with a foreclosure filing during the month — on par with the  national average and 1.9 times the state average.

Jefferson Parish has top foreclosure total in  August
  Jefferson Parish led the  state in total foreclosure activity, reporting 333 properties with foreclosure  filings for the month. Saint Tammany Parish was second highest, reporting 285 properties  with foreclosure filings. East Baton Rouge Parish was third, reporting 274  properties with foreclosure filings. Fourth highest was Orleans Parish, recording  206 properties with foreclosure filings. Lafayette Parish was fifth tallying 121  properties with a foreclosure filing.

State a moderate contributor to total foreclosure  activity in August
  Louisiana accounted for 1  percent of the 228,098 properties with foreclosure filings reported nationwide  in August. Total U.S. activity increased by more than 7 percent from July, but was  down nearly 33 percent from the level reported in August 2010. One in every 570  U.S. housing units received a foreclosure filing during the month.

“The big increase in new foreclosure actions may be  a signal that lenders are starting to push through some of the foreclosures  delayed by robo-signing and other documentation problems,” said James Saccacio,  chief executive officer of RealtyTrac. “It also foreshadows more bank repossessions  in the coming months as these new foreclosures make their way through the  process.”

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 – August 2011

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,765

38,115

63,347

21,058

64,813

228,098

570

n/a

n/a

Louisiana

0

401

0

807

673

1,881

1,044

0.55

n/a

 

 

 

 

 

 

 

 

 

 

Saint Tammany

0

112

0

107

66

285

343

1.66

3.04

Livingston

0

46

0

34

34

114

418

1.36

2.50

Jefferson

0

152

0

30

151

333

546

1.04

1.91

Saint Charles

0

18

0

4

11

33

611

0.93

1.71

East Baton Rouge

0

1

0

181

92

274

694

0.82

1.50

 

 

        Louisiana Top Foreclosure Totals by Parish – August 2011

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 11

% Chg Aug 10

 

 

 

 

 

 

 

 

 

 

United States

40,765

38,115

63,347

21,058

64,813

228,098

570

7.21

-32.68

Louisiana

0

401

0

807

673

1,881

1,044

10.39

20.65

 

 

 

 

 

 

 

 

 

 

Jefferson

0

152

0

30

151

333

546

24.25

1.52

Saint Tammany

0

112

0

107

66

285

343

1.06

7.55

East Baton Rouge

0

1

0

181

92

274

694

48.11

48.11

Orleans

0

0

0

95

111

206

813

-2.83

-29.45

Lafayette

0

48

0

44

29

121

753

34.44

15.24

 

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