<ARTICLE>           5
<LEGEND>
                    The Schedule contains summary financial 
                    information extracted from the financial
                    statements for Fogelman Mortgage LP 1
                    and is qualified in its entirety by reference
                    to such financial statements
</LEGEND>

<RESTATED>          

<CIK>               0000800608
<NAME>              Fogelman Mortgage LP 1
<MULTIPLIER>        1

<FISCAL-YEAR-END>               Dec-31-1997

<PERIOD-START>                  Jan-1-1997

<PERIOD-END>                    Dec-31-1997

<PERIOD-TYPE>                   12-Mos

<CASH>                          420,884

<SECURITIES>                    0

<RECEIVABLES>                   25,701,746

<ALLOWANCES>                    0

<INVENTORY>                     0

<CURRENT-ASSETS>                0

<PP&E>                          285,565

<DEPRECIATION>                  0

<TOTAL-ASSETS>                  26,408,195

<CURRENT-LIABILITIES>           336,485

<BONDS>                         0

<PREFERRED-MANDATORY>           0

<PREFERRED>                     0

<COMMON>                        0

<OTHER-SE>                      26,071,710

<TOTAL-LIABILITY-AND-EQUITY>    26,408,195

<SALES>                         0

<TOTAL-REVENUES>                1,682,766

<CGS>                           0

<TOTAL-COSTS>                   525,757

<OTHER-EXPENSES>                0

<LOSS-PROVISION>                0

<INTEREST-EXPENSE>              0

<INCOME-PRETAX>                 0

<INCOME-TAX>                    0

<INCOME-CONTINUING>             0

<DISCONTINUED>                  0

<EXTRAORDINARY>                 0

<CHANGES>                       0

<NET-INCOME>                    1,157,009

<EPS-PRIMARY>                   16.93

<EPS-DILUTED>                   0