<TABLE> <S> <C>


<ARTICLE>                     5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FORM
10-K FOR THE ANNUAL PERIODS ENDED DECEMBER 31, 1998, 1997 AND 1996 AND IS 
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANICAL STATEMENTS.
</LEGEND>

       
  
<S>                         <C>                                <C>                     <C>
<PERIOD-TYPE>              12-MOS                              12-MOS                  12-MOS   
<FISCAL-YEAR-END>                    Dec-31-1998                        Dec-31-1997              Dec-31-1996           
<PERIOD-START>                       Jan-01-1998                        Jan-01-1997              Jan-01-1996           
<PERIOD-END>                         Dec-31-1998                        Dec-31-1997              Dec-31-1996           
<CASH>                                9,821,639                         13,796,274               11,212,110            
<SECURITIES>                          7,509,641                          7,475,821                3,000,000            
<RECEIVABLES>                        10,199,590 <F1>                     4,321,151                1,181,513             
<ALLOWANCES>                                  0                                  0                        0                      
<INVENTORY>                          33,893,017 <F2>                    36,586,788 <F2>          52,766,342 <F2>         
<CURRENT-ASSETS>                        993,509                            782,357                  784,508             
<PP&E>                                   29,834                              7,203                        0                     
<DEPRECIATION>                          (4,469)                              (341)                        0                     
<TOTAL-ASSETS>                       62,442,761                        62,969,253               68,944,473                
<CURRENT-LIABILITIES>                 6,084,286                          2,899,038                7,584,003             
<BONDS>                              41,528,914 <F3>                    38,804,107 <F3>          41,218,205 <F3>       
<PREFERRED-MANDATORY>                         0                                  0                        0                      
<PREFERRED>                                   0                                  0                        0                      
<COMMON>                                 42,918                             42,918                   42,918                
<OTHER-SE>                           14,786,643                         21,223,190               20,099,347            
<TOTAL-LIABILITY-AND-EQUITY>         62,442,761                        62,969,253               68,944,473               
<SALES>                                 438,792                            488,563                5,479,114             
<TOTAL-REVENUES>                      2,407,571                          3,917,890                6,404,822             
<CGS>                                         0                                  0                        0                     
<TOTAL-COSTS>                                 0                                  0                        0                      
<OTHER-EXPENSES>                      3,599,290                          2,867,025                3,054,227             
<LOSS-PROVISION>                      1,073,494                            328,236               10,079,777                     
<INTEREST-EXPENSE>                    3,679,566                          3,599,487                3,983,606              
<INCOME-PRETAX>                      (5,944,779)                        (2,876,858)             (10,712,788)           
<INCOME-TAX>                             (5,600)                            (4,000)                 525,711              
<INCOME-CONTINUING>                  (5,950,379)                        (2,880,858)             (10,187,077)            
<DISCONTINUED>                                0                                  0                        0                     
<EXTRAORDINARY>                       2,300,037                          3,891,494                  487,600              
<CHANGES>                                     0                                  0                        0                     
<NET-INCOME>                         (3,650,342)                         1,010,636                9,699,477               
<EPS-PRIMARY>                             (1.12)                               .29                    (2.46)                 
<EPS-DILUTED>                             (1.12)                               .28                    (2.46)                 
   

<FN>
<F1> INCLUDES MATURED POLICIES RECEIVABLE AND LOANS RECEIVABLE.
<F2> INCLUDES ASSETS HELD FOR SALE AND PURCHASED LIFE INSURANCE POLICIES FOR 
     1996. INCLUDES PURCHASED LIFE INSURANCE POLICIES FOR 1998 AND 1997. 
<F3> REPRESENTS LONG TERM BORROWINGS OF THE COMPANY.
</FN>
        


</TABLE>