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La. foreclosure filings drop in May

Associated Press - June 11, 2009 12:34 PM ET

NEW ORLEANS (AP) - Residential foreclosure filings in Louisiana fell 16% from April to May, but still remained sharply higher than a year ago.

That's according to California-based RealtyTrac, which tracks foreclosure filings nationwide.

In May, 1,976 homeowners received at least one foreclosure-related filing, ranging from an initial notice of default to properties that have been repurchased by a financial institution. In Louisiana, 941 properties were taken back in May.

Louisiana ranked 40th in RealtyTrac's survey of foreclosure filings. The latest figure was 34% higher than in May 2008.

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