Deceased Family Member Home

[Olga Ford]

Hello, 

A quick summary: A family member has passed away. In her will she stated that the equity in the home shall be split among the 4 people listed. The people listed have no desire to keep the home, however other family members are considering taking on the responsibility in order to keep the home she worked so hard for. The interest rate on this home is extremely low, so getting a traditional mortgage at 8% to buy out the 4 people would double the monthly expenses. 

Quick Recap: People listed in a will want the equity out of the home (that still has a mortgage), other family members want to keep the house and take over payments. Is there alternative way to acquire the house, without having to get a mortgage at current rates(8%) ?