HELOC on SubTo property?

[Christian Epperson]

I've read through multiple posts of people asking about a HELOC on a seller financed property, but what I'm wondering is if anyone has done so on a home purchased "Subject To" the existing note? From everything I've found regarding a seller financed deal, it seems that the right lender could make it happen as long as it is your name on the deed. My concern is the current lien holder (Navy Federal) being notified of the second lien (not in the original purchasers name obviously) and then calling the note due. Kind of in a pinch for some capital, and the only other option I'm considering is a straight cash out refi to avoid the risk. However, if we went that route, we'd be giving up the 2.5% rate on the home as it is. Any thoughts or advice on the matter?