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 (obtaining a home loan and how mortgages work). The money you get usually is not taxable, and it typically won't impact your Social Security or Medicare advantages. When the last enduring customer passes away, offers the house, or no longer lives in the home as a primary residence, the loan has actually to be repaid.Here are some things to consider about reverse mortgages:. Reverse home mortgage loan providers generally charge an origination fee and other closing costs, as well as servicing charges over the life of the home mortgage. Some also charge home mortgage insurance coverage premiums (for federally-insured HECMs). As you get money through your reverse home mortgage, interest is included onto the balance you owe every month.