HomeGold Financial, Inc.
is a specialty finance company primarily engaged in the business of
and selling conforming and sub-prime first and second-lien residential
mortgage loan products (Mortgage Loans) and issuing notes payable and
debentures to investors through its subsidiary, Carolina Investors,
(CII). HomeGold Financial's major operating subsidiaries are HomeGold,
Inc. (HGI) and CII. HomeGold Financial provides Mortgage Loan products
primarily to owners of single-family residences who use the loan
for such purposes as refinancing, debt consolidation, home improvements
and educational expenditures. A majority of the Mortgage Loans are made
to sub-prime borrowers. In March 2003, the Company and HGI filed for
under Chapter 11 of the United States Bankruptcy Code.