<ARTICLE>                     5
<LEGEND>
THIS SCHEDULE  CONTAINS SUMMARY  FINANCIAL  INFORMATION  EXTRACTED FROM THE FORM
10-Q FOR THE  QUARTERLY  PERIOD  ENDED JUNE 30, 1999 AND IS  QUALIFIED  IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANICAL STATEMENTS.
</LEGEND>



                         
<PERIOD-TYPE>              6-MOS
<FISCAL-YEAR-END>                              Dec-31-1999
<PERIOD-START>                                 Jan-01-1999
<PERIOD-END>                                   Jun-30-1999
<CASH>                                         12,501,256
<SECURITIES>                                   28,409,590
<RECEIVABLES>                                  19,355,165 <F1>
<ALLOWANCES>                                            0
<INVENTORY>                                    32,560,408 <F2>
<CURRENT-ASSETS>                                3,075,876
<PP&E>                                                  0
<DEPRECIATION>                                          0
<TOTAL-ASSETS>                                 95,902,295
<CURRENT-LIABILITIES>                          22,534,046
<BONDS>                                        41,528,914 <F3>
<PREFERRED-MANDATORY>                                   0
<PREFERRED>                                             0
<COMMON>                                           43,891
<OTHER-SE>                                     31,795,444
<TOTAL-LIABILITY-AND-EQUITY>                   95,902,295
<SALES>                                           111,001
<TOTAL-REVENUES>                                7,260,031
<CGS>                                                   0
<TOTAL-COSTS>                                           0
<OTHER-EXPENSES>                                3,795,212
<LOSS-PROVISION>                                        0
<INTEREST-EXPENSE>                              2,207,147
<INCOME-PRETAX>                                 1,257,672
<INCOME-TAX>                                            0
<INCOME-CONTINUING>                             1,257,672
<DISCONTINUED>                                          0
<EXTRAORDINARY>                                         0
<CHANGES>                                               0
<NET-INCOME>                                    1,257,672
<EPS-BASIC>                                       (0.38)
<EPS-DILUTED>                                       (0.34)


<FN>
<F1> INCLUDES MATURED POLICIES RECEIVABLE AND LOANS RECEIVABLE.
<F2> INCLUDES PURCHASED LIFE INSURANCE POLICIES.
<F3> REPRESENTS LONG TERM BORROWINGS OF THE COMPANY.
</FN>