financialunion.info

foreclosure home louisiana
How long from the day your served your summons for foreclosure till you actually need to be out..in Louisiana?

Our house payment is over 3 months late and I recently received a letter from the mortgage company’s attorney requesting payment. It was not sent certified mail and I have not received anything from the court house yet. How much longer should I expect to be in our current home before we are forced to move due to foreclosure?
As of right now, we do not have a place to go. In the process of trying to find one though. No way to catch up on the mortgage. Had to file bankruptcy recently. We are definitely going to have to move but I didn’t know how much longer we would have before we were forced to leave.

There is no Non-Judicial Foreclosure process in Louisiana , and the original loan documents will not contain a “power of sale” clause, pre-authorizing the lender to sell the property in the event of a default. Judicial Foreclosure procedures in Louisiana can take two forms.

The first form requires the lender to sue the borrower on default of the loan, and obtain a court order to foreclose on the property.

The second form is called an executory process. This process requires the original mortgage documents to contain a “confession of judgment” clause, which can be executed if the borrower defaults on the loan. The court issues an order to foreclose and issues a demand for payment of the delinquent amount from the borrower. The borrower has only three (3) to cure the default, and if the borrower can not cure the default in the time given, the court issues a writ of seizure and sale.

With either form used, the sale must be advertised for (30) days before it is sold at a public auction. If the property does not sell for an amount that would pay off the original balance due plus costs, the lender has the right to sue the borrower for a deficiency judgment. The borrower has no right to redeem the property after the sale.

So the foreclosure process is fairly quick in LA, and you will have to determine if you want to try and drag it out or just react and move out quickly. You can file a lawsuit in the county court to halt the foreclosure and get a temporary restraining order against the bank. If granted, this will make sure they can not sell the property until you have a chance to argue against the foreclosure.

By itself, this may buy you an additional 1-2 months, and any more motions and court proceedings you engage in (or hire a lawyer to help you with) will drag out the foreclosure for even longer. If you just need a little extra time to move out, requesting a temporary restraining order might be the best idea.

Otherwise, you can try and call the bank and simply request that you be given more time. Ask them to postpone the sheriff sale if it is coming up because you are working on another solution. You’ll have to put your request in writing and fax it to them (and sending a copy by mail never hurts, either), but this can be surprisingly effective in getting an extra month to save your home or move out.

Good luck.
ForeclosureFish

foreclosure home louisiana

Increased Foreclosure Rates in US

The recent housing market boom has left many people in homes that they cannot afford with loans that they never should have been granted. This is resulting in a 72% increase in foreclosures from 2005 to 2006 according to recent reports. Foreclosure rates are increasing in 2007 due to lack of home sales and increasing mortgage rates. There is also a jump in the delinquency rate on US home loans. The biggest increase in delinquency is on sub prime mortgages where the current rate is up from 12.56% to 13.33%. FHA loans are also not far behind with a delinquency rate of just over 13.46%

This increase in foreclosures has affected all areas of the housing market: from starter homes to luxury residences. Industry experts believe that there are several reasons for this increase in home loan delinquencies and the increase in foreclosures. Consumer confidence in the current market might make many first time homebuyers, especially couples, take on a larger mortgage that they can afford. If they are unable to make payment due to a loss in employment for one of the partners, they usually lose their home to a foreclosure. Some experts believe that rising energy prices are also putting a strain on household budgets making it difficult for some consumers to make their mortgage payments.

Another important factor is the cooling off the housing market in some areas of the US. With the decrease in the rate of house sales in these areas foreclosure rates are on the rise. A decline in the price of housing also leads to a loss of equity for the homeowner that makes it difficult for him or her to leverage their property in case of difficulty with payments. The states with the highest current foreclosure rates are Michigan, Mississippi and Louisiana.

Foreclosure rates are high among ARM borrowers. ARM or adjustable rate mortgages frequently offer a low introductory interest rate, which is very tempting to potential homebuyers. Once signed on homeowners might experience an increase in their monthly payments due to increases in current interest rates. This might sometimes prove mortgage unaffordable to some homebuyers and lead to the loss of their property in a foreclosure.

The scenario is not one of doom and gloom however. This is a great time for those interested in purchasing foreclosed properties either as their primary homes or as investment properties. Foreclosure sales can allow one to purchase very desirable residences at a fraction of the real value providing one with instant equity and relatively low monthly payments.

About the Author

Homesearch4investors.com is an easy to use website that offers homes that are currently in pre-foreclosure, Foreclosure or for sale by owner. Find great property deals in all 50 states instantly.

foreclosure?

I’m from louisiana when they foreclose on your home how long is the process? How do they go by selling do they sell it to the lowest bidder and if the do will I still owe the company? Or should I file bankruptcy and get it over with? Because doesnt it stay on your credit report for seven years when the foreclose on your home?

The process is 6 months long. Yes, they will likely auction the home in a foreclosure sale, if you default. The loan company will take posession. Usually the bank sells the loan to another company and they can do what they want with it. The foreclosure stays on your credit record for 10 years, not seven. Seven years is for regular stuff like credit cards and other loans. It’s like the DMV. They can go back even further when they want to, such as when you apply for a commercial license they don’t stop at the 3 year limit.
When you file for bankruptcy, it still takes a long time and will be stretched out past the foreclosure time, so that will not help your situation. You will still end up going into foreclosure. The key is that if your main goal is to keep the house, then you can let all your other bills go and as long as you pay the mortgage, they cannot take your home from you. At that point, you can file for bankruptcy and start again. Your credit will be trashed, but at least you still have your home and in 7 years you will be in pretty good shape credit wise, plus you will still have your home if you have kept making payments.
Now, if you know you cannot make the house payments, you would do the reverse strategy and pay all your bills except the house and hurry up and find someone to buy it from you before it gets foreclosed upon. This will save your credit. I hope this helps.

Foreclose on the house of love

First Alert 3035DF Digital Locking Steel Security Box, 0.27 Cubic Foot, Black/Silver $41.99 Note:  Products are not available for Hawaii and Alaska States….

First Alert 2037F Fire and Water File Chest, 0.62 Cubic Foot, Gray $55.95 This UL classified First Alert media protection chest tested to withstand an external temperature up to 1550 degrees for 1/2 hour and independently verified to protect electronic media, such as memory sticks, CD’s, DVD’s and external hard drives. Waterproof even when fully submerged. Key Protector Chest Features: Interior Dimensions(HxWxD): 10.25 in. x 12.17 in. x 8.58 in. Stores standar…

First Alert 3040DF Digital Large Security Box, Black/Silver $53.99 Honeywell Security Lock Box with Digital Keypad. Lock it up… from important documents to your prized autographed baseball to your laptop, with the Honeywell Security Lock Box. And while you get BIG peace of mind, thieves just find one aggravating obstacle after another. 48″ security cable. State-of-the-art digital keypad. Double-steel wall construction. Plus, fire-retardant insulation provides a…

Passion of the Christ: Songs (Original Songs Inspired by the Film) $16.98 …

The Lost Soul $15.00 This CD features six new original works, two of them instrumentals, three traditional songs, and one borrowed tune. 1. Two Doves (Rathje) 5:232. Been All Around This World (trad. arr. Rathje) 3:123. Finn MacCool (Rathje) 3:534. The Lost Soul (trad. arr. Rathje) 2:545. Witch of the Westmereland (Fisher arr. Rathje) 4:146. Dobrology (Rathje) 2:547. Trout (Rathje) 2:408. Temperance Re…

Family $18.49 …

Alfa AIP-W505 802.11n/b/g Wireless Broadband Router & Access Point with 4 LAN ports – Wireless-N WiFi WISP, Bridge, AP Router – Advanced Security Futures and Supports URL & Keyword Filtering $49.99 AIP-W505 PCB is the 1 x 10/100Mbps WAN + 4 x 10/100Mbps LAN Ports, 802.11n AP/Router that provide up to 150Mbps high speed throughput. W505 PCB is suitable for WISP applications such as AP/Router mode, WISP mode, WDS Bridge Mode, Wireless Bridge Mode and Hybrid Mode; it’s easy to management by user friendly web-based interfaceSpecifications:ManagementWeb-base management interfaceRemote managementS…

Micro Innovations Wireless Link Keyboard (TKB700U) $14.99 Designed for travel and easy collapse, this keyboard is ideal for any user on the go. Foldable design lets you conveniently enter large amounts of data quickly and effortlessly. Ultra-slim design looks sharp and saves space. Folds to go wherever you want. Works with most Palm OS and Pocket PCs. For Device Type: Palm OS;Pocket PCs; Wired/Wireless: Wireless; Maximum Wireless Range: NA;Connector/Port…

Decorated Mouse Pad with {Keywords} $9.95 Professional “Brite White” fabric mouse pads are among the most versatile and durable, providing brilliant graphic reproduction for spot color or full color imprints. This durable polyester surface is above industry standards and provides a superior product value overall. Designed to reproduce vibrant detailed images. Our mouse pads have white fabric top with the 100% genuine black rubber base (n…

Charlie Rose – ‘What Just Happened?’ / Religulous (October 13, 2008) $24.95 A conversation about the film ‘What Just Happened?’ with Robert De Niro, Barry Levinson and Art Linson. || A conversation about the film Religulous with Bill Maher and Larry Charles.This product is manufactured on demand using DVD-R recordable media. Amazon.com’s standard return policy will apply….

Keyword Optimization – Complete Guide to Choosing Profitable Keywords for Your Website $14.95 …

Quality Pay-Per-Click Traffic Video Series (2008, DVD) $49.99 The DVD includes the following videos: 1 – Understanding Quality Clicks Over Quantity Focusing on clicks that convert is more important than just the concept of getting a high CTR (Click Through Rate). The problem most beginners face is they are taught to use a keyword tool and just start adding tons and tons of keywords into the Adwords keyword list and Walla, some magical conversions will hap…

Ohio State Buckeyes Ladies Logo Hair Scrunchie $8.95 Ladies, pull your hair back and show your Buckeye team spirit with this team logo scrunchie!…

EIKO KPR102 – 2.4V .7A/B3-1/2 SC Mini Flange Base Miniature $4.98 …

6 Watt – S6 – 48 Volt – Candelabra Base – Indicator Light Bulb – Bulbrite 750604 $3.99 Brand: Bulbrite – Part No.: 750604 – Wattage: 6 Watt – Voltage: 48 Volt – Base Finish: Brass – Base Type: Candelabra (E12) – Bulb Color: Clear – Bulb Shape: S6 – Bulb Type: Incandescent – Diameter: 3/4 in. – Length (M.O.L.): 1-7/8 in. – Life Hours: 1500 – Case Quantity: 10 -…

Samsung UN46C6300 46-Inch 1080p 120 Hz LED HDTV (Black) $1,699.99 The Samsung LED 6300: LED picture quality meets Auto Motion Plus 120HzTM Clear Motion Rate technology, with gorgeous results. The 6300′s LED Ultra Clear Panel absorbs ambient light and virtually eliminates reflections, for a more comfortable viewing environment. It’s beautiful form and function, complementing the most stylish of décor….

Samsung UN55C6500 55-Inch 1080p 120 Hz LED HDTV (Black) $2,799.99 What do you get when you combine Internet@TV with 120Hz Clear Motion Rate technology? The Samsung LED 6500. Get the best of the web, right on your HDTV, with downloadable and customizable widgets – and coming soon, Samsung apps. Connect to friends, share pictures, shop online and more. Samsung’s 120Hz Clear Motion Rate technology delivers smooth, natural action in every scene. Samsung LED backligh…

Samsung UN55C6300 55-Inch 1080p 120 Hz LED HDTV (Black) $2,499.99 The Samsung LED 6300 HDTV: LED picture quality meets Auto Motion Plus 120HzTM Clear Motion Rate technology, with gorgeous results. The 6300′s LED Ultra Clear Panel absorbs ambient light and virtually eliminates reflections, for a more comfortable viewing environment. It’s beautiful form and function, complementing the most stylish of décor….

Hanes Men’s Classic Basic Crew, Three Pack $16.00 Hanes Classics are constructed with very soft ring-spun cotton for added softness and resiliency….

Lilyette Women’s Microfiber Minimizer Bra #428 $32.00 Our Lilyette® Microfiber and Lace Minimizer® Bra offers you the very best in beauty and comfort!       * Beautiful and comfortable styling     * Luxuriously soft fabric* Gorgeous lace details* Smooth under clothes* Guaranteed comfort* Minimizes size – not shapeFabric content: Top Cup: 91% Nylon, 9% ElastaneBottom Cup: 100% NylonBack: 89% Nylon, 1…

Lilyette Women’s Strapless Bra with Convertible Straps #929 $32.00 Our Lilyette®Strapless Bra with Convertible Straps is essential for the full figure woman as it offers unparalleled fit and the security that every woman desires.      * Offers the best in fit and security   * Seamless smooth shaping       * Guaranteed to stay in place        * Luxurious super soft…

Green Toys Sand Play Set $12.94 Kids will ‘dig’ building castles and hunting for buried treasure with the environmentally friendly Sand Play Set from Green ToysTM. Made of recycled plastic, this classic 4-piece collection of tools consists of a bucket, sand castle mold, shovel and rake. Made in the U.S.A from recycled plastic milk containers, which helps save energy, reduces landfill waste, and lowers greenhouse gas emissions, a…

Alex Toys Draw like A Pro $30.00 A fun and easy way to draw…just turn down the lights, switch on the projector, insert a preprinted slide and trace away| Comes with 124 slides, 6 markers, 10 sheets of paper, and a flip book….

Alex 36 X 36 Vinyl Padded Playmat $13.20 All roads lead to fun with this take-along play mat that folds into a toy bag. Open it up anywhere – when you’re finished, pack up the toys and you’re on your way| Open mat measures a generous 36″ x 36″ of prime playing real estate….

Keywords: A Vocabulary of Culture and Society $10.95 …

The DAM Book: Digital Asset Management for Photographers $31.00 One of the main concerns for digital photographers today is asset management: how to file, find, protect, and re-use their photos. The best solutions can be found in The DAM Book, our bestselling guide to managing digital images efficiently and effectively.Anyone who shoots, scans, or stores digital photographs is practicing digital asset management (DAM), but few people do it in a way that makes …

YouTube and Video Marketing: An Hour a Day $14.68 A complete, task-based guide to developing, implementing, and tracking a video marketing strategy Online video marketing is crucial in today’s marketplace. This guide teaches you proven, practical guidelines for developing and implementing video marketing for your organization. If you’re a marketer, advertising professional, consultant, or small business owner, here’s a relevant guid…

New Balance Men’s 7516 Training Shoe ? One look at the heel will tell you this is no ordinary training shoe ? Lightweight, durable synthetic/mesh upper ? Breathable LIGHTNING DRY lining ? Removable EVA insole ? Injection-molded EVA midsole provides firm and flexible support ? NB Pulse heel-cushioning technology features air-filled pillars that compress on impact ? Ndurance rubber outsole for maximum durability…

Skechers Little Kid/Big Kid Diameter-Confirmed Lace Up Casual $39.95 ? Cool casual style for the boy who can’t wait to grow up ? Smooth synthetic upper with stitching and overlay details ? Padded collar and tongue ? Soft fabric shoe lining ? Cushioned comfort insole ? Shock absorbing midsole ? Flexible rubber sole…

Bass Women’s Sade Ankle Boot Shaft Height: Approx. 5” Tall. Heel Height: Approx. 1/2” Tall. Sade is a lace up leather bootie. Beautiful soft full grain uppers. Padded insoles and flexible rubber outsole for comfort. Lightweight fabric lining….