Debtors in Louisiana who have been struggling with the foreclosure process should not feel alone. The June 2014 U.S. Foreclosure report published by RealtyTrac indicated that 68 percent of the number of current foreclosures come from loans originated between 2004 and 2008. The predatory and haphazard lending from this timeframe is often attributed to the housing crisis that contributed to the financial crash of 2008. The recent data shows an improvement from the 75 percent proportion registered during 2013.
The June 2014 report showed that 11 percent of the foreclosures stemmed from loans originated during 2003 or earlier while 21 percent dated back to 2009. From 2011 to 2014, the percentage of loans in foreclosure has been at the lowest levels since before 2000. However, the rate of distressed sales is around 14.3 percent, significantly higher than before the housing-crisis when levels averaged lower than 5 percent. Distressed sales includes selling bank-owned properties, selling property at foreclosure auctions and short sales.