You keep the title to your home. Rather of paying monthly home loan payments, though, you get a bear down part of your home equity (what are reverse mortgages and how do they work). The money you get usually is not taxable, and it usually won't affect your Social Security or Medicare advantages. When the last surviving customer passes away, sells the house, or no longer lives in the house as a principal house, the loan has actually to be repaid.Here are some things to consider about reverse home mortgages:. Reverse home mortgage loan providers typically charge an origination fee and other closing costs, as well as maintenance fees over the life of the home mortgage. Some likewise charge mortgage insurance premiums (for federally-insured HECMs). As you get money through your reverse mortgage, interest is added onto the balance you owe monthly.