You keep the title to your house. Instead of paying monthly home loan payments, however, you get a bear down part of your home equity (how adjustable rate mortgages work). The cash you get usually is not taxable, and it typically won't impact your Social Security or Medicare advantages. When the last enduring debtor dies, offers the house, or no longer lives in the home as a primary house, the loan needs to be paid back.Here are some things to consider about reverse home mortgages:. Reverse home mortgage lending institutions usually charge an origination cost and other closing costs, in addition to maintenance charges over the life of the home mortgage. Some also charge home loan insurance coverage premiums (for federally-insured HECMs). As you get money through your reverse home mortgage, interest is included onto the balance you owe monthly.