I remember in same time period:
A PICKER for harvests got a loan for $650,000 to buy a house in Fresno, Calif.
He MAY have been part of the Bracero program.
NEVER paid a single payment & house was foreclosed on 6 months later.
Had other non-citizens living there who were itinerant farm workers. House had plenty of damage. NOT sure there was any insurance coverage for that.
WITH THAT THOUGHT-—WHAT INSURANCE COMPANY IS GOING TO INSURE THE PROPERTY BOUGHT WITH THE LOAN???
OR ARE THESE JUST “LOANS”-—NOT FOR PURCHASING ANYTHING???