Question: My father recently passed and I have inherited his townhouse. He had an existing mortgage. I am continuing to make the mortgage payments. I have not notified the mortgage company. I am unable to obtain financing for a home in my name at this time, and was turned down for 2 home loan attempts. If the lender finds out that I now own the house, can they pull the loan? I don’t want to lose the house. There was a Will (I was the PR and sole beneficiary) and I had an attorney prepare the deed which was properly recorded in my name. If I sell the home and payoff the mortgage, are there capital gains taxes or other taxes that I may have to pay? It was my father’s wish that the house be mine upon his death, yet I am afraid if I notify the mortgage company, they will pull the loan.

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