SUPPLEMENT
(To Prospectus Dated September 10, 1997 and Prospectus Supplement Dated
November 14, 1997)
FIRSTPLUS INVESTMENT CORPORATION
(Seller)
FIRSTPLUS FINANCIAL, INC.
(Transferor and Servicer)
FIRSTPLUS HOME LOAN OWNER TRUST 1997-4
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Capitalized terms used but not defined herein have the meanings assigned
to them in the Prospectus Supplement dated November 14, 1997 (the "Prospectus
Supplement").
The table captioned "Default Data" under "The Transferor and Servicer --
Servicing Experience -- Delinquency Experience" on page S-26 of the
Prospectus Supplement is hereby deleted in its entirety and replaced with the
following table:
DEFAULT DATA:
- ------------
THREE MONTHS ENDED
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December 31, March 31, June 30, September 30, December 31,
1996 1997 1997 1997 1997
Defaults as a percentage of the
average Serviced Loan Portfolio (2).
. . . . . . . 0.35% 0.31% 0.35% 0.39% 0.44%
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(2) The average Serviced Loan Portfolio is calculated by adding the
beginning and ending balances for the period presented and dividing the
sum by two.
Each percentage set forth above was calculated by adding the principal
amounts of all loans in the Servicer's portfolio that were defaulted during
the applicable three-month period and dividing such sum by the average
Serviced Loan Portfolio (determined as described in the Prospectus
Supplement).
The date of this Supplement is February 9, 1998