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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001144204-07-068678.txt : 20071220
<SEC-HEADER>0001144204-07-068678.hdr.sgml : 20071220
<ACCEPTANCE-DATETIME>20071220193149
ACCESSION NUMBER:		0001144204-07-068678
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20071218
FILED AS OF DATE:		20071220
DATE AS OF CHANGE:		20071220

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN MORTGAGE ACCEPTANCE CO
		CENTRAL INDEX KEY:			0000878774
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				136972380
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		625 MADISON AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2124215333

	MAIL ADDRESS:	
		STREET 1:		625 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN MORTGAGE INVESTORS TRUST
		DATE OF NAME CHANGE:	19931013

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PERLA STANLEY R
		CENTRAL INDEX KEY:			0001259945

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14583
		FILM NUMBER:		071320529

	MAIL ADDRESS:	
		STREET 1:		C/O LEXINGTON CORPORATE PROPERTIES TRUST
		STREET 2:		355 LEXINGOTN AVE 14TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v097817_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-12-18</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000878774</issuerCik>
        <issuerName>AMERICAN MORTGAGE ACCEPTANCE CO</issuerName>
        <issuerTradingSymbol>AMC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001259945</rptOwnerCik>
            <rptOwnerName>PERLA STANLEY R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1></rptOwnerStreet1>
            <rptOwnerStreet2>625 MADISON AVENUE</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2007-12-18</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>9147</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.64</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>20509</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Mr. Perla received 9,147 common shares as compensation for serving as an independent member of the Board of Trustees of the
 Issuer.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Stanley R. Perla</signatureName>
        <signatureDate>2007-12-19</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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