You keep the title to your home. Rather of paying regular monthly home loan payments, however, you get an advance on part of your home equity (how do fixed rate mortgages work). The cash you get usually is not taxable, and it typically won't affect your Social Security or Medicare benefits. When the last making it through customer dies, sells the house, or no longer lives in the house as a principal home, the loan has actually to be paid back.Here are some things to consider about reverse mortgages:. Reverse home mortgage loan providers typically charge an origination fee and other closing costs, along with maintenance costs over the life of the home mortgage. Some also 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 every month.