This assumes the mortgage company allows the loan to be re-casted

@David FuhrmannTheoretically, if you still want to go through with this, forget HardieBacker and go with firebrick and the specialized high temp mortar for firebricks which is also used for casting.

I've heard of it being done in a steel mill water reclamation system where the original cast iron piping was rotting out inside of cement floors etc due to the corrosive/leeching by incoming low pH waste water.

Brown spots on the ceiling, possible roof or pipe leak.Cracked walls, possibly from stress due to the house settling.Rusted cast iron piping, time to replace the line.The list goes on and on.

Converting the basement would probably cast a lot of money and if the laws were enforced all that money spent would go to waste.

Read, listen to pod cast, engage in the forums, and create relationships those are the best resources you have and they're FREE.

After cleaning I cast another vote for Zinnser BIN, it is expensive but it is the best primer for covering smells I have found.

Most common sewer line issues are tree roots growing into the line, or on older properties cast iron pipes. 

Plumbing, cast iron pipes can rust from the inside out and the rust can cause clogs.

,cast iron waste?