You keep the title to your home. Instead of paying regular monthly home loan payments, however, you get a bear down part of your house equity (how do reverse mortgages work?). The cash you get normally is not taxable, and it typically will not affect your Social Security or Medicare benefits. When the last enduring customer passes away, offers the house, or no longer lives in the home as a primary residence, the loan needs to be paid back.Here are some things to consider about reverse home mortgages:. Reverse home loan loan providers normally charge an origination cost and other closing costs, in addition to maintenance fees over the life of the home loan. Some likewise charge home mortgage insurance coverage premiums (for federally-insured HECMs). As you get money through your reverse home loan, interest is included onto the balance you owe each month.