You keep the title to your home. Instead of paying monthly home loan payments, however, you get a bear down part of your house equity (how do reverse mortgages work example). The cash you get normally is not taxable, and it typically will not impact your Social Security or Medicare advantages. When the last making it through debtor dies, sells the home, or no longer lives in the house as a principal residence, the loan has to be paid back.Here are some things to consider about reverse mortgages:. Reverse home loan lenders typically charge an origination cost and other closing expenses, as well as servicing fees over the life of the home loan. Some likewise charge home mortgage insurance premiums (for federally-insured HECMs). As you get cash through your reverse home mortgage, interest is added onto the balance you owe monthly.