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: July 25, 1997
ADVANTA Home Equity Loan Trust 1997-2
New York 333-21265 "Pending"
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 June, 1997 Monthly Period of the Trust in respect of
the Home Equity Loan Pass-Through Certificates, Series 1997-2
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 June 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 June, 1997 Monthly Period
relating to the Home Equity Loan Pass-Through
Certificates Series 1997-2, Class A issued by the
ADVANTA Home Equity Loan Trust 1997-2.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the June, 1997 Monthly
Period relating to the Home Equity Loan Pass-Through
Certificates, Series 1997-2, Class A issued by the
ADVANTA Home Equity Loan Trust 1997-2.
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 1997-2
BY: ADVANTA Mortgage Corp., USA
BY: /s/ William P. Garland
William P. Garland
Senior Vice President
Loan Service Administration
July 31, 1997
<TABLE>
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1997-2
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
A-1 165,800,000.00 165,800,000.00 939,533 2,453,721.2 3,393,254.55
A-2 109,900,000.00 109,900,000.00 645,662 645,662.50
A-3 10,500,000.0 10,500,000.0 63,87 63,875.00
A-4 44,445,000.0 44,445,000.0 281,485 281,485.00
A-5 36,855,000.0 36,855,000.0 222,665 222,665.63
A-6 280,000,000.00 280,000,000.00 1,751,905. 3,576,245.2 5,328,150.85
A-7IO 153,562 153,562.50
M-1 13,650,000.0 13,650,000.0 85,88 85,881.25
M-2 24,150,000.0 24,150,000.0 154,962 154,962.50
B-1 14,700,000.0 14,700,000.0 98,61 98,612.50
R -
Totals 700,000,000.00 700,000,000.00 4,398,145. 6,029,966.5 10,428,112.28
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A-1 163,346,278.78 6.800000% 6.800000%
A-2 109,900,000.00 7.050000% 7.050000%
A-3 10,500,000.0 7.300000% 7.300000%
A-4 44,445,000.0 7.600000% 7.600000%
A-5 36,855,000.0 7.250000% 7.250000%
A-6 276,423,754.71 5.927500% 5.848440%
A-7IO 5.000000% 5.000000%
M-1 13,650,000.0 7.550000% 7.550000%
M-2 24,150,000.0 7.700000% 7.700000%
B-1 14,700,000.0 8.050000% 8.050000%
R 0.000000% 0.000000%
Totals 693,970,033.49
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A-1 00755WDD5 1000 5.666667 14.799284 20.465951 985.200716
A-2 00755WDE3 1000 5.875 0 5.875 1000
A-3 00755WDF0 1000 6.083333 0 6.083333 1000
A-4 00755WDG8 1000 6.333333 0 6.333333 1000
A-5 00755WDH6 1000 6.041667 0 6.041667 1000
A-6 00755WDJ2 1000 6.256806 12.772305 19.029111 987.227695
A7-IO 00755WDK9 0 0.219375 0 0.219375 1000
M-1 00755WDL7 1000 6.291667 0 6.291667 1000
M-2 00755WDM5 1000 6.416667 0 6.416667 1000
B-1 00755WDN3 1000 6.708333 0 6.708333 1000
R 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 4,507,975. 658,962
% of Pool Balanc 1.07706% 0.15744% 0.00000% 0.00000% 0.00000%
Number of Loans 77 9 0 0 0
% of Loans 1.13620% 0.13280% 0.00000% 0.00000% 0.00000%
Group 2 Principal Balanc 3,710,385. 404,937
% of Pool Balanc 1.33779% 0.14600% 0.00000% 0.00000% 0.00000%
Number of Loans 52 5 0 0 0
% of Loans 1.87726% 0.18051% 0.00000% 0.00000% 0.00000%
Loans in Bankrup Group 1 147,158.11
Group 2 148,581.20
295,739.31
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Beginning Aggregate Mortgage Loan Balance 420,000,031. 280,000,249. 700,000,281.
Principal Reduction 1,456,257 2,647,57 4,103,834
Ending Aggregate Mortgage Loan Balance ############# 277,352,673.48 #############
Beginning Aggregate Mortgage Loan Count 6794 2790 9584
Ending Aggregate Mortgage Loan Count 6777 2770 9547
Current Weighted Average Coupon Rate 10.903697% 10.538829% 10.757750%
Next Weighted Average Coupon Rate 10.899932% 10.534391% 10.754244%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Scheduled Principal 271,89 142,1 414,03
Curtailments
Prepayments 1,184,361 2,331,08 3,515,442
Repurchases/Substitutions 174,3 174,35
Liquidation Proceeds
Other Principal
Less: Realized Losses
Less: Delinquent Principal not Advanced by Servicer
Total Principal Reduction 1,456,257 2,647,57 4,103,834
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Accrued Servicing Fee for the Current Period 154,87 102,1 257,03
Less: Amounts to Cover Interest Shortfalls
Less: Delinquent Service Fees 20,1 14,5 34,6
Collected Servicing Fees for Current Period: 134,74 87,6 222,41
Advanced Principal 4,7 3, 8,4
Advanced Interest 450,94 314,3 765,30
</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 1,184,36 997,4
A-2
A-3
A-4
A-5
A-6 2,331,08 174,3 928,6
A-7IO
M-1
M-2
B-1
R
Total 3,515,44 174,3 1,926,13
</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 12.781816% 997,46 997,4 11,130,000.
Group II No N/A 928,66 928,9 11,200,000.
Total 1,926,132 1,926,41 22,330,000.
</TABLE>
<TABLE>
MISCELLANEOUS INFORMATION:
<CAPTION>
<S> <C>
Class A-7IO Notional Balance 36,855,000.00
Group II Insured Payment Included in amounts Distributed -
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 5,475,420.67
Principal Collected: 3,921,060.12
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 765,308.60
Delinquency Advances on Mortgage Principal 8,419.04
Substitution Amounts: 174,354.86
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 9,120.00
Capitalized Interest Requirement: -
Pre-Funding Account: N/A
Sum of the Above Amounts: 10,353,683.29
LESS:
Servicing Fees (including PPIS): 257,039.62
Dealer Reserve: -
Trustee Fees: 5,104.17
Insurance Premiums: 32,249.44
Reimbursement of Delinquency Advances: -
Reimbursements of Servicing Advances: -
Total Reductions to Available Funds Amount: 294,393.23
Total Available Funds: 10,059,290.06
</TABLE>
