Word: passarello
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Dates: during 1970-1979
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...purchase of a $60,000 house, residents would save $85 a month compared with the cost of a conventional mortgage. Engineer John Passarello, 24, and his wife, a secretary, saved for a year to get a down payment for a $45,000, two-bedroom house on the city's South Side, but were unable to find regular financing under 10.1%. The city-backed loan, Passarello says, "will make the difference between having to scrimp and being able to enjoy our new home...
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