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 27, 1998
ADVANTA Home Equity Loan Trust 1997-4
New York 333-37107-01 "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, 1998 Monthly Period of the Trust in respect of
the Home Equity Loan Pass-Through Certificates, Series 1997-4
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 December 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, 1998 Monthly Period
relating to the Home Equity Loan Pass-Through
Certificates Series 1997-4, Class A issued by the
ADVANTA Home Equity Loan Trust 1997-4.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the June,1998 Monthly
Period relating to the Home Equity Loan Pass-Through
Certificates, Series 1997-4, Class A issued by the
ADVANTA Home Equity Loan Trust 1997-4.
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 1997-4
BY: ADVANTA Mortgage Corp., USA
BY: /s/ William P. Garland
William P. Garland
Senior Vice President
Loan Service Administration
July 31, 1998
<TABLE>
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1997-4
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
A-1 ###############################################################################
A-2 ###############################################################################
A-3 ###############################################################################
A-4 ###############################################################################
A-5 ###############################################################################
A-6 ###############################################################################
A-7 ###############################################################################
A-8 ###############################################################################
A-9 ###############################################################################
A-IO ################################################ ################
B-1 ###############################################################################
M-1 ###############################################################################
M-2 ###############################################################################
R ###############################################################################
Totals ###############################################################################
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A-1 ################################################ 5.796250% 5.796250%
A-2 ################################################ 6.530000% 6.530000%
A-3 ################################################ 6.550000% 6.550000%
A-4 ################################################ 6.660000% 6.660000%
A-5 ################################################ 6.720000% 6.720000%
A-6 ################################################ 7.100000% 7.100000%
A-7 ################################################ 6.630000% 6.630000%
A-8 ################################################ 5.826250% 5.826250%
A-9 ################################################ 5.896250% 5.896250%
A-IO ################################################ 5.000000% 5.000000%
B-1 ################################################ 7.540000% 7.540000%
M-1 ################################################ 7.040000% 7.040000%
M-2 ################################################ 7.240000% 7.240000%
R ################################################ 0.000000% 0.000000%
Totals ################################################
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A-1 00755WEC6 759.838281 3.914856 63.36681 67.281666 696.471471
A-2 00755WED4 1000 5.441667 0 5.441667 1000
A-3 00755WEE2 1000 5.458333 0 5.458333 1000
A-4 00755WEF9 1000 5.55 0 5.55 1000
A-5 00755WEG7 1000 5.6 0 5.6 1000
A-6 00755WEH5 1000 5.916667 0 5.916667 1000
A-7 00755WEJ1 1000 5.525 0 5.525 1000
A-8 00755WEL6 850.825086 4.406329 39.283786 43.690115 811.541301
A-9 00755WEM4 919.320411 4.81826 21.246197 26.064457 898.074214
A-IO 00755WEK8 1000 4.166667 0 4.166667 0
B-1 00755WEQ5 1000 6.283333 0 6.283333 1000
M-1 00755WEN2 1000 5.866667 0 5.866667 1000
M-2 00755WEP7 1000 6.033333 0 6.033333 1000
R AM9704114 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##############################################################################
% of Pool Balanc 2.63417% 0.63627% 0.26151% 0.03081% 1.80491%
Number of Loans 229 57 26 2 130
% of Loans 2.85216% 0.70993% 0.32383% 0.02491% 1.61913%
Group 2 Principal Balanc##############################################################################
% of Pool Balanc 2.78536% 0.65310% 0.19478% 0.01557% 2.97610%
Number of Loans 116 31 8 1 124
% of Loans 2.79653% 0.74735% 0.19286% 0.02411% 2.98939%
Loans in Bankrup Group 1 2,576,366.91
Group 2 2,074,360.71
################
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Beginning Aggregate Mortgage Loan Balance 472,698,443. 368,661,546. 841,359,989.
Principal Reduction 8,035,199 9,095,88###############
Ending Aggregate Mortgage Loan Balance 464,663,244.################ 824,228,906.
Beginning Aggregate Mortgage Loan Count 8170 4246 12416
Ending Aggregate Mortgage Loan Count 8029 4148 12177
Current Weighted Average Coupon Rate 10.617747% 10.567127% 10.595566%
Next Weighted Average Coupon Rate 10.609064% 10.555779% 10.585819%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Scheduled Principal 756,58 180,6###############
Curtailments ###############
Prepayments 7,218,318 8,558,53###############
Repurchases/Substitutions ###############
Liquidation Proceeds 60,2 356,7###############
Other Principal ###############
Less: Realized Losses ###############
Less: Delinquent Principal not Advanced by Servicer ###############
Total Principal Reduction 8,035,199 9,095,88###############
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Accrued Servicing Fee for the Current Period 153,13 120,7###############
Less: Amounts to Cover Interest Shortfalls 3,7 2,###############
Less: Delinquent Service Fees 43,8 32,8###############
Collected Servicing Fees for Current Period: 105,56 85,2###############
Advanced Principal 125,53 15,7###############
Advanced Interest 949,66 698,3###############
</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 7,218,31 60,2 1,218,82
A-2
A-3
A-4
A-5
A-6
A-7
A-8 2,096,95 87,4 286,7
A-9 6,461,58 269,3 883,5
A-IO
B-1
M-1
M-2
R
Total ##############################################################################################
</TABLE>
<TABLE>
<CAPTION>
Prior Current Target
Has a Senior Overcolla- Extra Overcolla- Overcolla-
Trigger Event Enhancement Teralization Principal Teralization Teralization
Occurred Percentage Amount Distributed Amount Amount
<S> <S> <C> <C> <C> <C> <C>
Group I No 15.385389% 7,771,42 1,218,826###############################
Group II N/A N/A 7,645,92 1,170,278###############################
Total ##############################################################
</TABLE>
<TABLE>
MISCELLANEOUS INFORMATION:
<CAPTION>
<S> <C>
Class A-IO Notional Balance 50,000,000.00
Group II Insured Payment Included in amounts Distributed to -
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: ###############
Principal Collected: ###############
Insurance Proceeds Received: ###############
Net Liquidation Proceeds: ###############
Delinquency Advances on Mortgage Interest: ###############
Delinquency Advances on Mortgage Principal ###############
Substitution Amounts: ###############
Trust Termination Proceeds: ###############
Investment Earnings on Certificate Account: ###############
Capitalized Interest Requirement: ###############
Pre-Funding Account: ###############
Sum of the Above Amounts: ################
LESS:
Servicing Fees (including PPIS): ###############
Dealer Reserve: ###############
Trustee Fees: ###############
Insurance Premiums: ###############
Reimbursement of Delinquency Advances: ###############
Reimbursements of Servicing Advances: ###############
Total Reductions to Available Funds Amount: ################
Total Available Funds: ###############
</TABLE>
