SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: December 26, 1997
ADVANTA Home Equity Loan Trust 1997-1
New York 333-21265 33-0756430
c/o ADVANTA Mortgage Corp., USA
Attn: William P. Garland
16875 West Bernardo Drive
San Diego, Ca 92127
(619) 674-1800
Item 5. Other Events
Information relating to the distributions to Certificate holders
for the November, 1997 Monthly Period of the Trust in respect of
the Home Equity Loan Pass-Through Certificates, Series 1997-1
Class A (the "Certificates") issued by the Registrant and the
performance of the Trust (including distributions of principal
and interest, delinquent balances of Home Equity Loans,
and the Subordinated amount remaining), together with certain other
information relating to the certificates, is contained in the
Monthly Report for the Monthly Period provided to certificateholders
pursuant to the Pooling and Servicing Agreement (the "Agreement")
dated as of March 1, 1997 between ADVANTA Mortgage Corp.,
USA as Servicer, and Bankers Trust Company, as Trustee.
Item 7. Financial Statements, Exhibits
Exhibit No. Exhibit
1. Monthly Report for the November, 1997 Monthly Period
relating to the Home Equity Loan Pass-Through
Certificates Series 1997-1, Class A issued by the
ADVANTA Home Equity Loan Trust 1997-1.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the November, 1997 Monthly
Period relating to the Home Equity Loan Pass-Through
Certificates, Series 1997-1, Class A issued by the
ADVANTA Home Equity Loan Trust 1997-1.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
ADVANTA Home Equity Loan Trust 1997-1
BY: ADVANTA Mortgage Corp., USA
BY: /s/ William P. Garland
William P. Garland
Senior Vice President
Loan Service Administration
December 29, 1997
<TABLE>
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1997-1
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
A-1 141,000,000. 90,878,126 518,7 7,144,182 7,662,945.17
A-2 82,000,000 82,000,000 485,1 485,166.67
A-3 11,500,000 11,500,000 70,9 70,916.67
A-4 34,015,000 34,015,000 216,8 216,845.63
A-5 29,835,000 29,835,000 182,7 182,739.38
A-6 168,000,000. 135,696,895. 695,2 6,873,644 7,568,902.94
M-1F 10,200,000 10,200,000 65,0 65,025.00
M-1A 12,600,000 12,600,000 66,2 66,293.50
M-2F 22,100,000 22,100,000 143,6 143,650.00
M-2A 10,500,000 10,500,000 56,7 56,781.67
B-1F 9,350,00 9,350,00 63,5 63,502.08
B-1A 18,900,000 18,900,000 109,0 109,042.50
R -
Totals 550,000,000. 467,575,022. 2,673,98 14,017,827. 16,691,811.21
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A-1 83,733,944 6.850000% 6.850000%
A-2 82,000,000 7.100000% 7.100000%
A-3 11,500,000 7.400000% 7.400000%
A-4 34,015,000 7.650000% 7.650000%
A-5 29,835,000 7.350000% 7.350000%
A-6 128,823,250. 5.950000% 6.325000%
M-1F 10,200,000 7.650000% 7.650000%
M-1A 12,600,000 6.110000% 6.485000%
M-2F 22,100,000 7.800000% 7.800000%
M-2A 10,500,000 6.280000% 6.655000%
B-1F 9,350,00 8.150000% 8.150000%
B-1A 18,900,000 6.700000% 7.075000%
R 0.000000% 0.000000%
Totals 453,557,194.93
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A-1 00755WCR5 644.525723 3.679168 50.667961 54.347129 593.857762
A-2 00755WCS3 1000 5.916667 0 5.916667 1000
A-3 00755WCT1 1000 6.166667 0 6.166667 1000
A-4 00755WCU8 1000 6.375 0 6.375 1000
A-5 00755WCV6 1000 6.125 0 6.125 1000
A-6 00755WCZ7 807.719615 4.138441 40.914553 45.052994 766.805063
M-1F 00755WCW4 1000 6.375 0 6.375 1000
M-1A 00755WDA1 1000 5.261389 0 5.261389 1000
M-2F 00755WCX2 1000 6.5 0 6.5 1000
M-2A 00755WDB9 1000 5.407778 0 5.407778 1000
B-1F 00755WCY0 1000 6.791666 0 6.791666 1000
B-1A 00755WDC7 1000 5.769444 0 5.769444 1000
R AM9701112 0 0 0 0 0
</TABLE>
<TABLE>
Delinquent Loan Information:
<CAPTION>
90+ Days Loans Loans
30-59 60-89 excldg f/c,REO in in
Days Days & Bkrptcy REO Foreclosure
<S> <C> <C> <C> <C> <C>
Group 1 Principal Balanc 9,605,30 3,073,81 1,016,090 579,6 6,557,610
% of Pool Balanc 3.30280% 1.05694% 0.34938% 0.19930% 2.25484%
Number of Loans 167 57 21 2 112
% of Loans 3.39776% 1.15972% 0.42726% 0.04069% 2.27874%
Group 2 Principal Balanc 6,986,18 2,124,51 1,115,356 239,3 10,857,642.
% of Pool Balanc 3.91341% 1.19007% 0.62478% 0.13409% 6.08205%
Number of Loans 69 21 14 3 98
% of Loans 3.98614% 1.21317% 0.80878% 0.17331% 5.66147%
Loans in Bankrup Group 1 2,789,510.52
Group 2 3,027,136.69
5,816,647.21
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Beginning Aggregate Mortgage Loan Balance 297,113,869. 184,726,358. 481,840,227.
Principal Reduction 6,290,736 6,206,89 12,497,636.
Ending Aggregate Mortgage Loan Balance 290,823,132. 178,519,458. 469,342,591.
Beginning Aggregate Mortgage Loan Count 5028 1780 6808
Ending Aggregate Mortgage Loan Count 4915 1731 6646
Current Weighted Average Coupon Rate 10.928854% 10.944389% 10.934810%
Next Weighted Average Coupon Rate 10.920343% 11.002600% 10.951630%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Scheduled Principal 355,01 88,6 443,71
Curtailments
Prepayments 5,693,335 6,014,29 11,707,630.
Repurchases/Substitutions 242,38 242,38
Liquidation Proceeds 103,9 103,90
Other Principal
Less: Realized Losses (11,0 17,9 6,8
Less: Delinquent Principal not Advanced by Servicer
Total Principal Reduction 6,301,818 6,188,97 12,490,790.
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Accrued Servicing Fee for the Current Period 90,3 53,1 143,47
Less: Amounts to Cover Interest Shortfalls 3,1 3,8
Less: Delinquent Service Fees 33,4 23,8 57,2
Collected Servicing Fees for Current Period: 53,6 28,6 82,3
Advanced Principal 36,8 7, 44,6
Advanced Interest 737,26 530,9 1,268,264
</TABLE>
<TABLE>
<CAPTION>
Other Subordination
Prepayment Unscheduled Increase Applied Realized Loss Unpaid
Principal Principal Principal Realized Loss Amortization Realized Loss
Class Distributed Distributed Distributed Amount Amount Amount
<S> <C> <C> <C> <C> <C> <C>
A-1 5,693,33 242,3 842,3
A-2
A-3
A-4
A-5
A-6 6,014,29 103,9 684,6
M-1F
M-1A
M-2F
M-2A
B-1F
B-1A
R
Total 11,707,630 346,2 1,527,03
</TABLE>
<TABLE>
<CAPTION>
Prior Current Target
Has a Senior Overcolla- Extra Overcolla- Overcolla-
Trigger Even Enhancement Teralization Principal Teralization Teralization
Occurred Percentage Amount Distributed Amount Amount
<S> <S> <C> <C> <C> <C> <C>
Group I No 14.321419% 7,235,74 842,36 8,089,18 9,010,000
Group II No 24.569610% 7,029,46 684,67 7,696,20 8,400,000
Total 14,265,205 1,527,037 15,785,396 17,410,000.
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 3,064,076.88
Principal Collected: 12,106,672.52
Insurance Proceeds Received: -
Net Liquidation Proceeds: 98,116.30
Delinquency Advances on Mortgage Interest: 1,268,264.02
Delinquency Advances on Mortgage Principal 44,673.05
Substitution Amounts: 242,385.16
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 14,608.41
Capitalized Interest Requirement: -
Pre-Funding Account: N/A
Sum of the Above Amounts: 16,838,796.34
LESS:
Servicing Fees (including PPIS): 143,471.71
Dealer Reserve: -
Trustee Fees: 3,513.42
Insurance Premiums: N/A
Reimbursement of Delinquency Advances: -
Reimbursements of Servicing Advances: -
Total Reductions to Available Funds Amount: 146,985.13
Total Available Funds: 16,691,811.
</TABLE>
