For many who may inherit the home of their parent in recent years, it may mean figuring out a plan to deal with the expense of paying the existing mortgage on the property. According to this NY Times article, the lender should be notified of the death. There are various strategies that may be implemented based on the beneficiary’s needs at the time. The main goal is to protect the asset by dealing strategically with the lender to avoid a default on the mortgage. Read article.