Louisiana Foreclosure Laws

by: Barry Johnson

-  Judicial Foreclosure Available: Yes

-  Non-Judicial Foreclosure Available: No

-  Primary Security Instruments: Mortgage

-  Timeline: Typically 60 days

-  Right of Redemption: No

-  Deficiency Judgments Allowed: Yes

In Louisiana, lenders may foreclose on a mortgage in default by using the judicial foreclosure process.

Judicial Foreclosure

There are two types of judicial foreclosure proceedings in Louisiana, executory and ordinary process.

The executory process takes place when the lender uses a mortgage that includes an “authentic act that imparts a confession of judgment”, as provided in the Louisiana statutes. Essentially, this means the borrower signed and acknowledged the obligations of the mortgage in the presence of a notary public and two witnesses. This type of mortgage makes the foreclosure process easier for the lender because once the suit has been filed and the original note and a certified copy of the mortgage has been provided, the court will issue an order for the process to begin.

Once ordered, the borrower must be then be served with a demand for the delinquent payments. The borrower has three (3) days to provide the delinquent payments or the court will order a writ of seizure and sale and the property will be sold after proper notice has been advertised for thirty (30) days.

Lenders may also sue to obtain a deficiency judgment, but buyers have no rights of redemption.

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About Barry Johnson

Barry Johnson is a Co-Editor and writer for iNews. He takes a "no holds barred" writing approach to all of the subjects he covers. Opinionated, and with a well established sense of right and wrong, you can always count on him to tell it like it is. He gets his core values from growing up in the South, where God and Country are the prevailing themes. You may not like what he has to say, but know that he believes in it to his very core. As an editor, he will stand by each writer in their decision to take on controversial subjects and allow them to tell the story in their own unique ways.
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