10-Q/A

                                UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C.  20549


                                 FORM 10-Q/A


(Mark One)

[X]   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES 
      EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 1996

                                     OR

[ ]   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES 
      EXCHANGE ACT OF 1934

For the transition period from ________________________

Commission file number 0-18226
                       -------

             NYLIFE GOVERNMENT MORTGAGE PLUS LIMITED PARTNERSHIP
            (Exact name of registrant as specified in its charter)

                 MASSACHUSETTS                         13-3487910
         (State or other jurisdiction               (I.R.S. Employer
       of incorporation or organization)           Identification No.)

   51 MADISON AVENUE, NEW YORK, NEW YORK                  10010
  (Address of principal executive offices)              (Zip Code)

Registrant's telephone number, including area code (212) 576-7300
                                                   --------------

Indicate by check mark whether the registrant (1) has filed all reports 
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 
1934 during the preceding 12 months (or for such shorter period that the 
registrant was required to file such reports), and (2) has been subject to 
such filing requirements for the past 90 days.

         Yes X      No
            ---       ---

         Yes X      No
            ---       ---



                                 SIGNATURES 

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 on June 25, 1996.

                                    NYLIFE Government Mortgage Plus
                                    Limited Partnership


                                    By:  NYLIFE Realty Inc.
                                         General Partner


                                    By:    /s/     Kevin M. Micucci          
                                       ------------------------------------- 
                                        Kevin M. Micucci
                                        President and Controller
                                        (Principal Executive, Financial
                                        and Accounting Officer)




                                       2

EX-27

 


<ARTICLE> 7
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               MAR-31-1996
<DEBT-HELD-FOR-SALE>                                 0
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                           0
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                              17,165,065
<CASH>                                      13,937,222
<RECOVER-REINSURE>                                   0
<DEFERRED-ACQUISITION>                         873,295
<TOTAL-ASSETS>                              32,113,831
<POLICY-LOSSES>                                      0
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                      0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                32,113,831
<PREMIUMS>                                           0
<INVESTMENT-INCOME>                            569,360
<INVESTMENT-GAINS>                                   0
<OTHER-INCOME>                                  57,098
<BENEFITS>                                           0
<UNDERWRITING-AMORTIZATION>                          0
<UNDERWRITING-OTHER>                                 0
<INCOME-PRETAX>                                558,873
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   558,873
<EPS-PRIMARY>                                      .07
<EPS-DILUTED>                                        0
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0