In an effort to reduce those numbers --- and combat practices that have made Fulton one of the nation's leaders in mortgage foreclosures --- County and top home loan agency officials stressed the need for a "Stop Before You Borrow" homebuyer/owner education campaign.

City leaders received detailed information about foreclosures in their areas at a symposium convened by the Fulton County Office of Housing at the direction of District 7 Commissioner William "Bill" Edwards.

"The numbers are eye-opening and show that everyone is affected," Edwards said. "What we're talking about is 'homeownership preservation.' We are asking our municipalities to join Fulton County and our partner loan agencies in this campaign."

Among the major causes of foreclosures are unscrupulous persons in the home sales industry, buyers who opt for more house than they can afford, and financially troubled owners who don't know, or can't work out a payment plan. Fulton County also leads the nation in incidences of mortgage fraud cases, and Georgia is the leading state. The Office of Housing is planning public information sessions about mortgage foreclosures.

"Foreclosure is a loss for lenders and is not an acceptable alternative," said Vaughn Irons, Freddie Mac's national director of Community Development Lending. Other speakers were Bruce Paradis, president and CEO, GMAC Residential Funding Corporation; and Charlie McGuire, HomeBanc general counsel.

For more information, call the Fulton Office of Housing at 404-730-8100.