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Louisiana Foreclosure Law |
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Back to Foreclosure Information by State
- 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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Legal Information Is Not The Same as Legal Advice
This site provides information about foreclosure law designed to help users safely cope with their own legal needs. But legal information is not the same as legal advice. The application of law varies with an individual's specific circumstances. The laws of every state are in constant change, and Although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation.
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