Louisiana foreclosure process

According to the law of foreclosures in Louisiana, the proceedings of a foreclosure can only be conducted judicially. The normal time period for a Louisiana foreclosure can vary from 6-9 months.

Period of Pre-foreclosure

There are basically two types of Louisiana court foreclosure processes and they are ordinary and executory.

The ordinary Louisiana court foreclosure process is quite expensive and extensive. It can be compared to a lawsuit and hence it is time consuming. The normal foreclosure process or course of action can take as long as nine months.

On the other hand, the executory Louisiana court foreclosure process takes less time. In this process, the lender a clause in the mortgage that can initiate an act imparting a confession to the judgment through which the borrower will have to accept all the obligations mentioned in the mortgage.

The executory Louisiana court foreclosure process can be completed within six months. Under the executory process, the lender is not required to send any kind of sales notification to the borrower prior to initiating the process of foreclosure. Some mortgages and deeds of trust might include the fact that a lender has to send a sales notification to the borrower prior to the foreclosure sale.

Once the lender files a petition in the Louisiana courts, the borrower will be served a notice demanding the default amount within a specific time period. Upon receiving this notice, if the borrower is unable to pay the default amount within three days, then the Louisiana court will order a writ for seizure and sale of the property, which will be delivered by the clerk to the sheriff.

Auction Notice

It is the responsibility of the county sheriff to serve a notice of foreclosures sale to the borrower. The county sheriff also has to publish the foreclosure sale notice in any of the local newspapers twice and also post it in the local community parish.

The Louisiana foreclosure sale will be conducted by the sheriff it is an open to all auction. The bidder who wins will have to pay the price of the foreclosure property in cash and on the same day itself. In some special cases, the bidder is also allowed to pay the price within 30 days from the date of the closure of the sale. In such a case, the bidder will have to make a 10% advance deposit. Once all this is done, the county sheriff will issue a deed of sale to the bidder.

The Louisiana foreclosure laws don’t give the borrower any redemption rights.

Celebrate Diversity with New Orleans Foreclosure Homes

If you are looking to move to the big easy then take a peak at New Orleans foreclosure listings. New Orleans, Louisiana is the home to one of the largest and busiest ports in the world and is one of the largest port cities in Louisiana as well as a major port city in the US. It is one of the oldest cities in the United States meaning it is steeped in history and is an ideal place for history lovers. New Orleans is known for its multi cultural heritage as well as its music and cuisine and is considered the birthplace of jazz. The best way to get into this great city is to look into New Orleans foreclosure listings. Buying or investing in New Orleans foreclosure homes gives the seller or investor a large dose of cultural diversity. After all it's not called "The most unique city in America" for nothing.

The city is in the top twenty of the most visited cities in the United States, and tourism is a major staple in the area's economy. Louisiana foreclosure listings are a great idea for anyone looking to like here. Tourism in New Orleans makes buying New Orleans foreclosure homes and even more lucrative business. In 2004 it was estimated that over ten million tourists visited New Orleans. Investors can purchase homes from New Orleans foreclosure listings and rent them out during the busiest season and make a hefty profit.

There is one major draw back to finding New Orleans foreclosure listings. Finding New Orleans foreclosed homes can take a long time to find and then there is trying to buy the home after you have found it. This is where Mostlyforeclosures.com comes in. ForeclosureDatabank.com does all of the research for you and puts New Orleans foreclosure listings right at your fingertips. They also take you through each step needed to make buying New Orleans home foreclosures a dream come true.

Why invest in Elgin foreclosures for sale is a good idea

Invest In Elgin Distressed Properties

If you have ever given any thought to real estate investing, the one thing that real estate investors need to know about is Elgin foreclosure listings. In many cases, foreclosures for sale offer the greatest opportunity for getting a great return on your investment. The reason that these properties are such great investments is that you can often buy them for less than other homes that are of similar value. It makes perfect sense when you think about buying properties for low prices and selling them for higher prices.

Take A Good Look At Bank Owned Properties

Elgin bank foreclosures are one of a wide variety of property buying options that are available to investors. Seasoned investors know that they are great deals, and they know that the best way to find them is to scope them out in our database for Elgin, IL. Banks own these homes because of a mortgage default. They want to sell them to qualified investors so that they can begin making money on the mortgage loan again. So it is worth your while to take a peek at the many REOs that are currently for sale in Elgin.

Find Out What Seasoned Investors Know

Find out what seasoned investors know when it comes to real estate investing success. They know that finding great deals on the real estate they buy can make all the difference when it comes to how much of a profit they get when they go to sell it. This is just one of the many tips you can learn about on our site.

Buying Power with Shreveport Foreclosure Homes

Consumer power is waning. More and more these retailers and the mortgage lenders have wrangled people into a corner and are pelting them with higher and higher expenses in relation to their respective markets. But that doesn't have to remain the case, especially if you look into Shreveport foreclosure homes.

If you plan to buy a home in the near future you can use Shreveport foreclosure listings to give yourself the power in this scenario. Shreveport has foreclosure listings from $13,000 and up, so there is something for everyone. You do it by picking through the offerings and finding something that appeals to you. Let's say you chose a property up for auction. Well you just attend the auction and buy your home.

The good thing with Shreveport bank foreclosures is that when you buy at auction you don't have to put a large down payment up front. Also you can save as much as half of the market value when you buy using Shreveport foreclosure homes.

Another plus is that with Shreveport foreclosure homes you have negotiating power. If you deal directly with the defaulting owner during a pre-foreclosure well then you can get a better deal because they are trying to sell the home and get as much as possible out of it. This gives you a lot of leverage.

If you were to deal with a real estate agent and buy a home off the market you would be stuck paying their commission because it gets tacked onto your mortgage. Plus you would pay a balloon fee at the end of your mortgages life. But Shreveport homes in foreclosure allow you the power to make the system work for you.

Without a doubt there is the potential for the consumer to gain the advantage by using this method to by a home. Without a doubt it offers the best savings and the most potential in terms of your buying power. And, without a doubt the wise home buyers shop Shreveport foreclosure homes.

Economically speaking Shreveport has a lot to offer. It has made the transition from a manufacturing economy to a service economy and now has a vibrant tourism economy second only to New Orleans in the state. It has roughly 300 properties in foreclosure list prices vary from $40,000 to over $300,000.

Flip Over New Orleans Foreclosure Homes

There is a unique way for people to make money in the real estate industry. It's called flipping. It isn't really a very difficult concept to grasp at all.

You start buy browsing through the New Orleans foreclosure listings and finding a property that is appealing to you. Then you go through the New Orleans bank foreclosure process and buy the property for up to half its actual market value. From that step you turn around and sell the property at market value for a profit.

This is a very popular method of making yourself some money. In fact many people turn it into a successful career. New Orleans foreclosure homes can be a way for people to start fresh and get control of their own destiny.

It can also be a method for people to make money for an upcoming large purchase. Maybe you want to buy a larger house. Just use the listings New Orleans foreclosure homes to flip a few properties and then you'll have the money for your purchase.

Or you could create a sustainable inflow of revenue for yourself. You do this by purchasing some New Orleans bank foreclosures and spend some of the capital from your previous flips to fix them up or convert them over into rental units. Then you become a landlord and have a sustainable and monthly inflow of cash.

This is especially significant because of the rising default rates in recent times. More and more people will be looking for rentals and if you can provide that service then you will be able to dictate the terms upon which the market grows.

The foreclosure market in New Orleans is growing. As the tourism economy continues to regain its strength so will the foreclosure market. There are 33 homes in foreclosure right now and this would be a prime time for someone to get into the flipping game because more and more people will be coming back to New Orleans.

The bottom line is that if you wish to improve yours you will do very well to look at flipping. The best way to get started is with New Orleans foreclosure homes.