You keep the title to your house. Instead of paying month-to-month home loan payments, however, you get a bear down part of your house equity (how do escrow accounts work for mortgages). The money you get normally is not taxable, and it typically will not affect your Social Security or Medicare benefits. When the last making it through debtor dies, sells the house, or no longer lives in the home as a principal home, the loan needs to be repaid.Here are some things to consider about reverse mortgages:. Reverse home mortgage lenders generally charge an origination cost and other closing expenses, along with servicing charges over the life of the home mortgage. Some likewise charge 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 each month.