ForeclosuresToGo
Learning Center | Louisiana Foreclosure Laws

Questions
How are mortgage liens treated in Louisiana?
How are Louisiana mortgages foreclosed?
What are the legal instruments that establish a Louisiana mortgage?
How long does it take to foreclose a property in Louisiana?
Is there a right of redemption in Louisiana?
Are deficiency judgments permitted in Louisiana?
What statutes govern Louisiana foreclosures?

Answers

How are mortgage liens treated in Louisiana?

Louisiana is generally known as alien theory state where the property acts as security for the underlying loan. The document that places the lien on the property is called amortgage. Louisiana law is based on the civil law system prevalent in Europe--as opposed to the English common law system which forms the basis for most of the law used in the United States.

top

FREE 7-DAY TRIAL!

You're only seconds away from searching foreclosures FREE for 7 days with America's largest and most trusted database.

It's fast and easy!

How are Louisiana mortgages foreclosed?

In Louisiana, the lenders go to court in what is known as ajudicial foreclosure proceeding where the court must issue a final judgment of foreclosure. There are two formats to this procedure known as theordinary process which serves as a contested litigation and theexecutory process which uses a pre-existingconfession of judgment that is authenticated through the judicial process. The property is then sold as part of a publicly noticed sale.

top

What are the legal instruments that establish a Louisiana mortgage?

The documents are known as themortgage,note, and in a commercial transaction, asecurity agreement. Sometimes the mortgage document is combined with the security agreement.  Amortgage is filed to evidence the underlying debt and terms of repayment, which is set forth in thenote.

top

How long does it take to foreclose a property in Louisiana?

Depending on the court schedule, it usually takes approximately 180-270 days to effectuate an uncontested foreclosure through the ordinary process. This process may be delayed if the borrower contests the action, seeks delays and adjournments of hearings, or files forbankruptcy. Theexecutory process usually takes no more than six (6) months. Typically a borrower whose foreclosure action is brought under theexecutory process receives a three (3) day notice upon default. If the loan is not brought current the property is advertised once a week for thirty (30) days ands then sold.

top

FREE 7-DAY TRIAL!

You're only seconds away from searching foreclosures FREE for 7 days with America's largest and most trusted database.

It's fast and easy!

Is there a right of redemption in Louisiana?

Louisiana has nostatutory right of redemption, which would allow a party whose property has been foreclosed to reclaim that property by making payment in full of the sum of the unpaid loan plus costs.

top

Are deficiency judgments permitted in Louisiana?

Yes. Adeficiency judgment may be obtained when a property in foreclosure is sold at a public sale for less than the loan amount which the underlying mortgage secures but only through the ordinary process or a separate lawsuit outside theexecutory process. This means that the borrower still owes the lender for the difference between what the property sold for at auction and the amount of the original loan.

top

What statutes govern Louisiana foreclosures?

The laws that govern Louisiana foreclosures are found in Louisiana Revised Statutes, Title 10:9-629

http://www.legis.state.la.us/lss/lss.asp?doc=74514


top
Home Login Contact About Lost Access Code Email Alerts FAQs
Privacy Policy & Security Statement Terms & Conditions of Service