[JasonC]

A grab bag of 4 different things is not what I asked about. I am disputing the claim that banks are giving reverse mortgages to people with no equity - the specific combination of a no money down reverse mortgage. Which I regard as mythical hyperbole from bears who will say anything about real estate and maybe even believe it, but are out of touch with reality.

[Pelham]

I am disputing the claim that banks are giving reverse mortgages to people with no equity - the specific combination of a no money down reverse mortgage. Which I regard as mythical hyperbole from bears who will say anything about real estate and maybe even believe it, but are out of touch with reality.

You can dispute it all you want. Payment option ARMs allow the borrower to pay less than what is required to cover even the interest on his loan. The difference is added to the principal of the loan each month. These loans have become very common in southern California. Research will serve you better than attitude, but suit yourself.