Page 6 - Lutheran Children News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Lutheran Social Services housing debts exceed assets Management of apartments owned by Lutheran Social Services of North Dakota is being handled by a court-appointed receiver while preparations are being made to sell the buildings to new owners. Written By: Patrick Springer | × Lutheran Social Services is seen Friday, Jan. 15, at 3911 20th St. S., Fargo. Michael Vosburg / Forum Photo Editor FARGO The court-appointed third party now managing hundreds of affordable housing units owned by Lutheran Social Services of North Dakota has concluded that the properties market value is less than amounts owed to creditors. Preliminary financial analysis results are included in a court document prompted by several banks objections to some of the properties being placed in receivership, a court process to oversee sale of the properties so creditors can be paid.

Watford cityNorth dakotaUnited statesStutsman countyCass countyNorth dakotansLuther hallBob ottersonPatrick finnLighthouse management group of new brightonCornerstone bankA cass county district courtDacotah bankAmerican bank centerFirst international bankLutheran social services