Back in 2007, just before the crash, we were selling homes to first-time buyers with no money down under an FHA program. The new owner would move in multiple people, never make a payment. It would take 2+ years for the bank to get around to foreclosing, so they got two free years of living. They would get utility assistance also, and food stamps. The living was good.
Those were called “NINJA” loans:
No
Income
No
Job, no
Assets