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New midlevel mortgages get 'purgatory' rates

Oct. 18, 2008
The federal government's efforts to make jumbo mortgages more available to borrowers have created a three-tiered mortgage market in areas with expensive housing. There are the standard loans that Fannie Mae and Freddie Mac buy from lenders and then sell to...
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Lori Anne Madison, 6, competes in Scripps National Spelling Bee
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Lori Anne Madison, 6, of Woodbridge, Virginia, spells out the letters in her word as she competes during the opening round of the Scripps National Spelling Bee, May 30, 2012, in National Harbor, Maryland. Madison, the youngest known qualifier in the history of the contest, correctly spelled the word "dirigible*", a lighter-than-air aircraft, to advance. UPI/Mike Theiler