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Louisiana state conducts only Judicial foreclosure.

What is the processing period for foreclosure in Louisiana?
Processing period is normally two months in Louisiana.

Is there any right of redemption in Louisiana for foreclosure?
Louisiana state does not offer right of redemption.

Are deficiency judgments permitted in Louisiana?
Yes, deficiency judgments are permitted in Louisiana.

Which law provision governs foreclosure in Louisiana?
The laws that govern Louisiana foreclosures are found in Louisiana Revised Statutes, Title 10:9-629.

What happens during Judicial Foreclosure in Louisiana?
There are two types of judicial foreclosures followed in Louisiana.

  1. Executory process
  2. Ordinary process

When the mortgage contains an "authentic act that imparts a confession of judgment", as provided in the Louisiana statutes, executory process takes place. This means that the borrower has signed and acknowledged the obligations of the said mortgage in the presence of two witnesses and notary public. This type of foreclosure helps lender in foreclosure procedure as once the suit is filed and the original note and a certified copy of the mortgage has been provided, the court will issue an order to start the foreclosure. Once ordered, demand can be made for missed payments to the borrower. The borrower as three days time to make payment or else the court will order a writ of seizure and sale, and the clerk delivers it to the sheriff.

The sheriff personally gives notice of sale to the borrower and notice is also published in local newspaper (where property is situated) two times. The sale is conducted by sheriff, winning bidder has pay the sale price in cash same day or in some cases 10% on same day and rest of payment within 30 days.

The ordinary process is more extensive as well as expensive, and it is more similar to a lawsuit. This foreclosure process usually lasts about nine months.

This is legal information; it should not be treated as legal advice.



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