You keep the title to your home. Rather of paying monthly home loan payments, however, you get an advance on part of your home equity (how do assumable mortgages work). The cash you get generally is not taxable, and it typically will not impact your Social Security or Medicare advantages. When the last making it through debtor dies, sells the house, or no longer lives in the house as a principal residence, the loan needs to be repaid.Here are some things to consider about reverse home loans:. Reverse home loan lenders normally charge an origination charge and other closing expenses, in addition to servicing charges over the life of the home loan. Some likewise charge mortgage insurance coverage premiums (for federally-insured HECMs). As you get cash through your reverse mortgage, interest is added onto the balance you owe each month.