House Under Contract...Won't Sell

A House I used to own...is on the market now and it can't sell...

I used to own this great 2 story home in the country club and then was forced to sell it because I lost it through divorce, now the new property owner has since died and his wife has had it on the market for about 5 months and they just can't sell it.

I sold it for 250K and they put down 25K, the balance should be about 220K, it looks like she's about to throw in the towel and stop making payments soon since she's on a fixed income, that plus it's too much home for her alone...5 bdrms, 3 bths.

Here's my question, is there a way that without having to wait the many months it normally takes to go into Foreclosure, even after the owner stops making monthly payment, to somehow negotiate with the Bank to reduce it to 175K or even 200K?

Could this then be passed along to a new buyer or perhaps an investor before it goes into foreclosure and is majorly discounted???

Investors and Comments are welcomed!

Longing For Better Times...