Am I ever required to repay the money?

Not as long as you live in your home and maintain your property taxes, homeowners insurance, HOA dues (if applicable), upkeep of the home, and any other items listed in your loan agreement. But if you move out or sell the home, or fail to pay the items listed above, you must repay the loan just like any other mortgage. After you and your spouse die, your heirs can either sell the home or they can refinance it to pay off the reverse mortgage.