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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 28,1998
ADVANTA Home Equity Loan Trust 1997-4
New York 333-37107-01 "Pending"
c/o ADVANTA Mortgage Corp., USA
Attn: William P. Garland
10790 Rancho Bernardo Road
San Diego, CA 92127
(619) 674-1800
Item 5. Other Events
Information relating to the distributions to Certificate holders
for the November, 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 November, 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 November, 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 Mortgage Loan Trust 1997-4
BY: ADVANTA Mortgage Corp., USA
BY: /s/ William P. Garland
William P. Garland
Senior Vice President
Loan Service Administration
December 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-1 146,039,000. 48,476,73 230,2 14,351,463. 14,581,751.62
A-2 91,159,000 91,159,00 496,0 496,056.89
A-3 33,579,000 33,579,00 183,2 183,285.37
A-4 59,837,000 59,837,00 332,0 332,095.35
A-5 15,601,000 15,601,00 87,3 87,365.60
A-6 41,285,000 41,285,00 244,2 244,269.58
A-7 50,000,000 50,000,00 276,2 276,250.00
A-8 98,000,000 58,277,75 278,4 4,821,992 5,100,441.92
A-9 302,000,000. 234,690,563 1,136,40 8,036,653 9,173,059.16
A-IO 208,333.33 208,333.33
B-1 15,000,000 15,000,00 94,2 94,250.00
M-1 17,500,000 17,500,00 102,6 102,666.67
M-2 30,000,000 30,000,00 181,0 181,000.00
R 1,910,46 1,910,469.77
Totals 900,000,000. 695,406,058 5,761,18 27,210,109. 32,971,295.26
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A-1 34,125,274 5.182340% 5.764380%
A-2 91,159,000 6.530000% 6.530000%
A-3 33,579,000 6.550000% 6.550000%
A-4 59,837,000 6.660000% 6.660000%
A-5 15,601,000 6.720000% 6.720000%
A-6 41,285,000 7.100000% 7.100000%
A-7 50,000,000 6.630000% 6.630000%
A-8 53,455,764 5.212340% 5.794380%
A-9 226,653,909. 5.282340% 5.864380%
A-IO 5.000000% 5.000000%
B-1 15,000,000 7.540000% 7.540000%
M-1 17,500,000 7.040000% 7.040000%
M-2 30,000,000 7.240000% 7.240000%
R 0.000000% 0.000000%
Totals 668,195,948.60
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A-1 00755WEC6 331.943786 1.576892 98.271447 99.848339 233.672339
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 594.670983 2.841325 49.204001 52.045326 545.466983
A-9 00755WEM4 777.12107 3.762933 26.611435 30.374368 750.509634
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 2.122744 0 2.122744 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 14,835,73 5,750,16 1,878,906 2,029,43 11,798,452.
% of Pool Balanc 3.70350% 1.43544% 0.46904% 0.50662% 2.94530%
Number of Loans 272 96 43 28 213
% of Loans 3.93405% 1.38849% 0.62193% 0.40498% 3.08071%
Group 2 Principal Balanc 12,946,99 4,156,02 2,333,996 2,819,96 15,024,067.
% of Pool Balanc 4.38718% 1.40830% 0.79089% 0.95556% 5.09101%
Number of Loans 155 46 29 27 163
% of Loans 4.50189% 1.33604% 0.84229% 0.78420% 4.73424%
Loans in Bankrup Group 1 5,206,748.93
Group 2 5,472,010.64
10,678,759.57
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Beginning Aggregate Mortgage Loan Balance 414,937,882. 307,730,929. 722,668,811.
Principal Reduction 14,351,462. 12,588,565 26,940,028.
Ending Aggregate Mortgage Loan Balance 400,586,418. 295,109,931. 695,696,350.
Beginning Aggregate Mortgage Loan Count 7161 3591 10752
Ending Aggregate Mortgage Loan Count 6914 3443 10357
Current Weighted Average Coupon Rate 10.537137% 10.543516% 10.539854%
Next Weighted Average Coupon Rate 10.537037% 10.541004% 10.538720%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Scheduled Principal 784,08 298,7 1,082,837
Curtailments
Prepayments 13,544,382. 12,163,890 25,708,273.
Repurchases/Substitutions
Liquidation Proceeds 22,9 158,3 181,35
Other Principal
Less: Realized Losses 32,4 32,4
Less: Delinquent Principal not Advanced by Servicer
Total Principal Reduction 14,351,462. 12,588,565 26,940,028.
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Accrued Servicing Fee for the Current Period 125,41 90,4 215,81
Less: Amounts to Cover Interest Shortfalls 5,5 2, 7,8
Less: Delinquent Service Fees 47,4 37,8 85,3
Collected Servicing Fees for Current Period: 72,3 50,2 122,61
Advanced Principal 65,6 12,7 78,3
Advanced Interest 1,015,474 791,0 1,806,525
</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 13,544,382 22,
A-2
A-3
A-4
A-5
A-6
A-7
A-8 4,561,45 59, 101,2 32,4
A-9 7,602,43 98, 168,7
A-IO
B-1
M-1
M-2
R
Total 25,708,273 181,3 270,0 32,4
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Has a Senior Overcolla- Extra Overcolla-
Trigger Event Enhancement Teralization Principal Realized Teralization
Occurred Percentage Amount Distributed Loss Amount Amount
<S> <S> <C> <C> <C> <C> <C>
Group I No 18.722588% 12,500,144 12,500,144.
Group II N/A N/A 14,762,609 270,07 32,4 15,000,257.
Total 27,262,753 270,08 32,4 27,500,402.
</TABLE>
<TABLE>
<CAPTION>
Target
Overcolla- Prior Current Cumulative Prior Unreimbursed
Teralization Realized Realized Realized Unreimbursed Servicing Fee
Amount Losses Losses Losses Servicing Fee Due
<S> <C> <S> <C> <C> <C> <C>
Group I 12,500,144 65,739.98 1.00 65,740.98 0.00 N/A
Group II 15,000,257 67,828.47 32,431.75 100,260.22 0.00 N/A
Total 27,500,402 133,568.45 32,432.75 166,001.20 0.00 0.00
Unreimbursed Cumulative
Servicing Fee Unreimbursed
Paid Servicing Fee
<S> <C> <S>
Group I N/A 0.00
Group II N/A 0.00
Total 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
MISCELLANEOUS INFORMATION:
<CAPTION>
<S> <C>
Class A-IO Notional Balance 50,000,000.00
Group II Insured Payment Included in amounts Distributed to Cl -
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 4,455,527.56
Principal Collected: 26,712,741.94
Insurance Proceeds Received: -
Net Liquidation Proceeds: 148,917.73
Delinquency Advances on Mortgage Interest: 1,806,525.37
Delinquency Advances on Mortgage Principal 78,368.94
Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 25,308.87
Capitalized Interest Requirement: -
Pre-Funding Account: -
Sum of the Above Amounts: 33,227,390.41
LESS:
Servicing Fees (including PPIS): 215,811.99
Dealer Reserve: -
Trustee Fees: 5,269.46
Insurance Premiums: 35,013.71
Reimbursement of Delinquency Advances: -
Reimbursements of Servicing Advances: -
Total Reductions to Available Funds Amount: 256,095.16
Total Available Funds: 32,971,295.
</TABLE>
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