Louisiana Foreclosure
Louisiana Foreclosure does not permit right of redemption to the borrower. Allows only judicial foreclosure and timeline is 60 days and deficiency judgment is allowable. Louisiana Foreclosure law allows a special clause in mortgages that speeds up the foreclosure process. This is known as ‘authentic act that imparts a confession of judgment’. Mortgages of this kind are testified by notary publics and two witnesses each. Lender needs to supply a certified copy of the mortgage and original note to the court when filing for foreclosure. Immediate issue of the court order permits just three days for the borrower to bring debt current. Court orders seizure and sale of the properties if the three day dead line is met by borrowers and sale date should be after 30 days of advertising.
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