The grandkids can buy the house at that bank auction. (Although they could be outbid, naturally.)
The estate would still owe the difference, and may be insolvent due to that, but the grandkids would not owe that difference / have to assume the mortgage.
Assuming the estate is in debt and loses money on the house, the bank may be more involved in other aspects of the estate. For example they may want items of value (eg: jewelery) to also be sold at auction rather than gifted to heirs.
Just saying that you may wish to pick your battles.
Poor Nick Mason. Only member to always be in the band and zero mention of him.