You keep the title to your house. Instead of paying monthly home loan payments, though, you get an advance on part of your house equity (how home mortgages work). The cash you get typically is not taxable, and it normally will not affect your Social Security or Medicare benefits. When the last enduring customer dies, offers the home, or no longer lives in the house as a primary home, the loan needs to be repaid.Here are some things to consider about reverse home loans:. Reverse mortgage loan providers normally charge an origination fee and other closing expenses, along with maintenance fees over the life of the mortgage. Some likewise charge home loan insurance coverage premiums (for federally-insured HECMs). As you get cash through your reverse mortgage, interest is added onto the balance you owe monthly.