FHA/VA loans made I think in the 1980's are assumable by anyone without permission from the lender although fat chance of finding that.

Construction money is very tough to find right now, but I think it is doable with a nice, fat piece of collateral to immunize the lender's tertiary risk.

This will probably be a profitable trend that continues and expands in other directions for increasingly revenue-strapped government entities.After all, LLs are 'big fat rich' targets who cannot easily walk away, and who generate zero sympathy from the voting class.

Fat or slim?

@Nathan Harrison I started our real estate investment company in Cincy and have a good RE attorney there but a RE attorney that specializes in securities we ended up using Gene Trowbridge who is based out of California and has 40+ years of experience. 

Whereas typically subordinate Helocs (or even 2nd lien helocs sitting in 1st position) are some of the first credit “fat” to be cut.

If you're still worried get a parent co-signer, or fat damage deposit.

Or, when the fat pig sings & flies.

The answer is a big fat NO.

In order for this owner to be in a position to do owner financing on a $1,000,000.00 property it means he is a fat cat with allot of experience who will take 10 to 20 new investors just like you and eat you for breakfast.