Mr. Schad said a hearing was scheduled for today on a temporary debtor-in-possession plan under which the lenders finance the building's continuing operation.

Now lenders are looking at the leases and financing the leases rather than financing the building.

A year ago, the family applied for a construction loan at the Chase Manhattan Bank, but the lender would not finance the entire cost of the renovation.

From that, a plan was to emerge under which the lenders would finance the building's continuing operation.

It is too bad that more lenders won't finance five-unit houses.

Without such coverage, lenders will not finance real estate purchases, construction or investments by business in plants and equipment.

Several lenders are currently financing Biltmore Estates and Northgate .

But no one knows whether local lenders alone can finance the replacement of so much that has been destroyed.

The lender financed Spencer's purchase of a larger shop in Dec. 2010 which more than doubled his previous space.

Should most of the units still be held by the sponsor the data are even more critical, since they could have a substantial impact on whether a lender will finance the shares.