You keep the title to your home. Rather of paying month-to-month home mortgage payments, though, you get an advance on part of your home equity (how do mortgages work in monopoly). The cash you get typically is not taxable, and it usually will not impact your Social Security or Medicare advantages. When the last enduring borrower dies, offers the home, or no longer lives in the home as a principal home, the loan needs to be paid back.Here are some things to consider about reverse mortgages:. Reverse home loan loan providers typically charge an origination cost and other closing expenses, along with servicing fees over the life of the home mortgage. Some likewise charge home mortgage insurance coverage premiums (for federally-insured HECMs). As you get money through your reverse mortgage, interest is included onto the balance you owe each month.