Owner Financing for Heir

[Michael Hurdle]

I have a sister, of a deceased home owner, who is left handling her sister's affairs. There is 65K left on a 1st ($900 plus) and 2nd ($100 plus) mortgage with same bank.  The sister made one payment but she is not willing to make anymore; and, she is not interested in being a landlord.  She is open to owner financing.  Who can negotiate with the bank for lower payments and possibly work a deal, on the 2nd mortgage, without raising a red flag with the bank? The sister has already tried to list with a Realtor and do a short sale. These did not work out.  I would think the bank would want to accept either a lower payoff or better monthly terms for payoff if there is an interested buyer. ANY ADVICE?  I know this is long.