Louisiana Foreclosure Rate Still Low, But a Change Could Come Soon

According to new statistics, Louisiana’s foreclosure rate ranked 39th among other states in the nation during the third quarter of 2006. This number may be surprisingly low too many, but can probably be explained by the presence of a federal moratorium on foreclosures in the area following Hurricane Katrine. That moratorium recently ended however, and it is worht noting that the the number of foreclosures increased by 155% from the second quarter to the third. This could signal a rising trend in foreclosure in an area that is still far from rebuilt after the storm.

[via Baton Rouge Business Report]

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