Q: How Can I Receive My Loan Proceeds? A: Reverse mortgage payments are tax-free and can be received in a variety of ways, so a reverse mortgage payout plan can be tailored to fit your specific needs. There are Five Ways You Can Receive Your Money. 1. Tenure Equal monthly payments as long as at least one borrower lives and continues to occupy the property as a principal residence. 2. Term Equal monthly payments for a fixed period of months selected. 3. Line of Credit Unscheduled payments or installments, at times and in amounts of your choosing until the line of credit is exhausted. 4. Modified Tenure Combination of line of credit with monthly payments for as long as you remain in the home. 5. Modified Term Combination of line of credit plus monthly payments for a fixed period of months selected by the borrower.