I was going to answer you last night about your dilemma. I think what Rachel means is the "buyer" pays to you not the "seller". In this instance, YOU'RE the seller.
Seller financing does mean the seller is like the bank, allowing the new buyer to provide you with a downpayment amount and then pay you monthly payments, which creates a new mortgage. It's called Contract for Deed. This mortgage must be registered with the county when the closing happens.
The problem for you, as the seller, is that if your current bank says you can't do that without paying them in full. There are some loans (most loans) that have a Due on Sale clause. That means you cannot create a new mortgage for the property with someone else (meaning you holding the mortgage) while this current mortgage still exists. So, if you're going to do that and you have that clause in your current papers, you will need to pay off the current mortgage to create your CD. I think that might not be possible for you right now since you're talking about foreclosure, right?
Good luck, John!