Pre-foreclosure and what to do with second mortgage

[Peter Halliday]

I'm in contact with a seller a couple weeks from auction date. He owes $189k plus $1k on a second to get caught up. The first would be paid off. Leaving $250k on the second. He offered to carry the second. Is that something a bank would do? I assume with a second. He isn't far behind with second and was being directed to stop. If he does that the flip would likely work.