Pre-Foreclosures owner finance?

Question, I know I can do a preforeclosure deal as subject to (leaving the note in the name of the seller), but if the home is in pre-foreclosure status, can the seller do owner financing and sell the property outright to me?

example: preforeclosure amount owed to bank 120000. 6000 back mtg payments etc…he is paying 1000/mo. Instead of sub to, do owner financing from seller 130000 for 20years payable at 1100/mo. Then of course fine renter to rent at 1500/mo.

the above example includes numbers just for the sake of an example. I am wondering if I can become the owner of the home outright with owner financing while allowing the seller to not run into issues when/if he wants to buy another home by having 2 mtgs in his name. Or is this even a concern?

Now that I have written it out, it seems that sub-to and owner financing are virtually the same things.

What you seek is possible, I believe. However, seller would have to make the loan current.

I would think it would be better if you were to stick with the sub-2

And then in 60 to 90 days refi the property