Word: adelizzi
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Dates: during 1980-1989
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...money by taking out adjustable-rate mortgages from builders and lenders. Such loans, which typically are made at 2 to 2.5 percentage points below the interest on fixed-rate mortgages and begin to rise after a year, now account for an estimated 60% of all home lending. Notes Robert Adelizzi, president of San Diego-based Home Federal Savings & Loan: "As many as 200,000 U.S. families last year were able to get into housing that they would not have been able to afford without adjustable-rate mortgages...
About 10 members of the NAACP also attended the meeting, bringing a letter to board chairman Joseph Adelizzi in which they said he could have only two reasons for reinstating Podryhula: Either she has been punished enough or she has threatened to sue the commission if not reinstated...