Most of the time, a reverse mortgage is paid back by selling the property. You (or your estate) have the option of selling the house and turning over proceeds to the reverse mortgage lender. However, you could also refinance or repay the loan with other funds if you want to keep the house. You don’t have to make payments towards your reverse mortgage like you would a traditional mortgage. Reverse mortgage loans generally come due after a maturity event occurs, such as a change of residency, title transfer, failure to pay property charges or death.