[Letterhead of Elliott Davis LLC]


October 14, 2002



Securities and Exchange Commission
Washington, D.C. 20549

Dear Sir:

We have read Item 4 included in the Form 8-K dated  October 14, 2002 of HomeGold
Financial,  Inc. filed with the  Securities  and Exchange  Commission and are in
agreement with the statements contained therein, except we are not in a position
to comment on the  statement,  "The registrant  believes that it has taken steps
to correct the weaknesses specified by Elliott Davis", made by the registrant.

Very truly yours,

/s/  Elliott Davis, LLC

Elliott Davis, LLC