You keep the title to your home. Rather of paying regular monthly home loan payments, though, you get a bear down part of your house equity (how does chapter 13 work with mortgages). The cash you get usually is not taxable, and it typically won't impact your Social Security or Medicare advantages. When the last making it through borrower dies, offers the house, or no longer lives in the house as a primary residence, the loan needs to be repaid.Here are some things to consider about reverse mortgages:. Reverse home loan lenders usually charge an origination cost and other closing expenses, in addition to maintenance costs over the life of the home loan. Some likewise charge mortgage insurance coverage premiums (for federally-insured HECMs). As you get cash through your reverse home loan, interest is added onto the balance you owe monthly.