|Interest Rate:||12 % + 5% Penalty|
|Bid Method:||Bid Down Interest|
|Redemption Period:||3 Years|
|Sale Date(s):||January – April|
|Statute Section(s):||LA Constitution – Article VII, Sec. 25|
Rate of Return:
There is a 12% annual rate of return or a 1% per month return in Louisiana. The sate also mandates a flat penalty rate of 5% due to the deed holder upon property redemption. The overall rate of return an investor receives is determined by the redemption date. A property redeemed after 1 month would yield an interest rate of 72% (1% + 5% penalty X 12 months), while a property that redeemed after 35 months would yield a return of 13.7%.
Louisiana uses a bid down ownership method. Investors compete by bidding down how much of the property will be security for the lien. Using this system requires a lien holder to file a court action to prosecute the foreclosure in order to sell the property. The proceeds would then be divided based on the percentage of the ownership held.
|Resource||Description||Instructions and Additional Information|
|Louisiana Sheriffs Association website:||Contract information and websites, if such exists, for the 65 Parish Sheriffs Offices.|
|Police Jury Association of Louisiana website:||Contact information and websites, if such exist, for all 64 Parishes.|
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Louisiana County Resource Directory
Everything you want to know that about Louisiana Tax Line Certificates is a click away. In this table below, you can click on County for links to the County websites, click Census for U.S Census bureau information, see county auction types, population, and click the map image a detailed county map.
Reference Site Source: http://en.wikipedia.org/wiki/List_of_counties_in_Louisiana
Louisiana County Map
Local Real Estate ClubsN.O. Real Estate Investor’s Association
Contact: Jan Hedrick
Telephone: (504) 364-5813
When: 3rd Thursday of the month, 7:15pm
Where: Quality Hotel, 2261 N. Causeway,
Contact: Stephen Mouton
Telephone: (318) 237-0641
When: 1st Monday of each month, 7:00pm
Where: Lafayette Hilton, Safayette