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Bank Foreclosure Houses and Foreclosure Filings Up in Baton Rouge

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By : John Cutts    99 or more times read
The number of bank foreclosure houses and foreclosure filings increased in Baton Rouge, Louisiana, in 2010 compared with year-ago levels. Four other metro areas in the state recorded higher number of filings compared with 2009.

Baton Rouge foreclosed homes and foreclosure-related filings increased by 31% last year when compared with 2009 levels. When compared with 2008, the increase was a whopping 214%. In 2010, one household out of every 94 received at least a filing in the metro area, making it the 150th metropolitan region in the whole U.S. in terms of number of foreclosure filings in 2010.

Foreclosures in Louisiana jumped in five major metropolitan areas last year. Aside from Baton Rouge, New Orleans, Lafayette, Shreveport-Bossier and Houma-Thibodaux also posted higher foreclosure filings totals for 2010. However, among the five Louisiana metros, only New Orleans was ranked inside the top 100 U.S. metro regions in terms of foreclosure rates. The ranking was for regions with 200,000 residents at least.

The number of foreclosure-related filings, including bank foreclosure houses and repossessed properties, totaled 7,822 in the New Orleans-Metairie-Kenner region, representing a 36% jump when compared with 2009 levels and up 79% from 2008. One household out of every 57 properties in New Orleans was under some stage of foreclosure last year. The region was ranked 95th among all metro areas surveyed in terms of foreclosure rate.

For investors who went on to buy foreclosed houses, Shreveport-Bossier City offered a lot of choices last year as the region posted a total of 1,429 foreclosure-related filings, representing a 16.5% rise from 2009 levels and up 135% from 2008 figures. One out of every 122 property units in the area was under foreclosure in 2010, ranking Shreveport 170th nationwide in terms of rate of foreclosure.

Meanwhile, Lafayette posted 843 filings last year, giving the area a ratio of one household out of every 133 under foreclosure in 2010. The increase was 39% compared with the previous year and up 197% compared with 2008 levels. Lafayette came in at 174th overall. For Houma-Thibodaux, bank foreclosure houses and filings totaled 371, up by 64% from 2009 and represented a 689% increase from 2008. One household out of 222 units was in foreclosure last year, giving Houma a nationwide ranking of 192.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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