SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   FORM 12b-25

                                                 Commission File Number: 0-18226

                           NOTIFICATION OF LATE FILING

(Check One):   [_] Form 10-K [_] Form 11-K  [_] Form 20-F  [X]  Form 10-Q

[_] Form N-SAR
        For Period Ended:______________________________________________________

[_] Transition Report on Form 10-K           [_] Transition Report on Form 10-Q
[_] Transition Report on Form 20-F           [_] Transition Report on Form N-SAR
[_] Transition Report on Form 11-K
        For Period Ended:________________________________

     Read attached  instruction  sheet before  preparing  form.  Please print or
type.

     Nothing in this form shall be  construed to imply that the  Commission  has
verified any information contained herein.

     If the  notification  relates  to a portion of the  filing  checked  above,
identify the item(s) to which the notification relates:


                                     PART I
                             REGISTRANT INFORMATION

Full name of registrant  NYLIFE  Government  Mortgage  Plus Limited  Partnership
                         ------------------------------------------------------
Former name if applicable


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Address of principal  executive  office  (Street and number)

51 Madison  Avenue, Room 1700
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City, state and zip code 

New York, New York  10010
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                                     PART II
                             RULE 12b-25 (b) AND (c)

     If the subject  report could not be filed  without  unreasonable  effort or
expense  and  the  registrant  seeks  relief  pursuant  to Rule  12b-25(b),  the
following  should be  completed.  (Check  appropriate  box.)

[ ] (a) The  reasons  described  in  reasonable  detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report, transition report on Form
10-K,  20-F,  11-K or Form N-SAR,  or portion thereof will be filed on or before
the 15th  calendar  day  following  the  prescribed  due  date;  or the  subject
quarterly  report or transition  report of Form 10-Q, or portion thereof will be
filed on or before the fifth calendar day following the prescribed due date; and
[_] (c) The  accountant's  statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.

                                    PART III
                                    NARRATIVE

     State below in  reasonable  detail the reasons why Form 10-K,  11-K,  20-F,
10-Q,  N-SAR or the transition  report portion thereof could not be filed within
the prescribed time period. (Attach extra sheets if needed.)







  
                                     PART IV
                                OTHER INFORMATION

     (1) Name and  telephone  number  of  person  to  contact  in regard to this
notification

  Kevin Micucci                 (212)                                   576-6456
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    (Name)                   (Area Code)                      (Telephone Number)

     (2) Have all other periodic  reports  required under Section 13 or 15(d) of
the Securities  Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940  during the  preceding  12 months or for such  shorter  period  that the
registrant was required to file such report(s) been filed?  If the answer is no,
identify report(s).

                                                                   [X] Yes [_]No

     (3) Is it anticipated that any significant  change in results of operations
from the corresponding  period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?

                                                                    [X]Yes [ ]No

     If so: attach an explanation of the anticipated  change,  both  narratively
and  quantitatively,  and, of  appropriate,  state the reasons why a  reasonable
estimate of the results cannot be made.

     On July 1, 1996 Unitholders of the Partnership  approved the dissolution of
the Partnership.  As a result,  the Partnership  changed its basis of accounting
for the period  subsequent to July 2, 1996 from the historical cost basis to the
liquidation  basis.  For  financial  statement  purposes the  operations  of the
Partnership ceased on July 2, 1996;  therefore the results of operations for the
periods to be presented in the statement of operations are not comparable.

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(Name of Registrant as Specified in Charter)


Has  caused  this  notification  to be signed on its  behalf by the  undersigned
thereunto duly authorized.

Date 11/14/96                                       By /S/ KEVIN MICUCCI
                                                    -------------------------
             
          Instruction.  The form may be signed by an  executive  officer  of the
registrant or by any other duly authorized representative. The name and title of
the person signing the form shall be typed or printed beneath the signature.  If
the  statement  is  signed  on  behalf  of  the   registrant  by  an  authorized
representative   (other   than   an   executive   officer),   evidence   of  the
representative's  authority to sign on behalf of the  registrant  shall be filed
with the form.

                                    ATTENTION

          Intentional  misstatements  or  omissions of fact  constitute  Federal
criminal violations (see 18 U.S.C. 1001).



                              GENERAL INSTRUCTIONS

          1. This form is  required  by Rule  12b-25  of the  General  Rules and
Regulations under the Securities Exchange Act of 1934.

          2. One  signed  original  and four  conformed  copies of this form and
amendments  thereto must be completed and filed with the Securities and Exchange
Commission,  Washington,  DC 20549,  in accordance  with Rule 0-3 of the General
Rules and Regulations under the Act. The information  contained in or filed with
the form will be made a matter of the public record in the Commission files.

          3. A manually signed copy of the form and amendments  thereto shall be
filed with each national securities exchange on which any class of securities of
the registrant is registered.

          4. Amendments to the  notifications  must also be filed of Form 12b-25
but need not restate  information  that has been correctly  furnished.  The form
shall be clearly identified as an amended notification.

          5. Electronic Filers. This form shall not be used by electronic filers
unable to timely file a report  solely due to  electronic  difficulties.  Filers
unable to submit a report within the time period  prescribed due to difficulties
in  electronic  filing  should  comply  with  either  Rule  201 or  Rule  202 of
Regulation S-T or apply for any adjustment in filing date pursuant to Rule 13(b)
of Regulation S-T.