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


                                    FORM 10-Q

(Mark one)

(X)     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
        SECURITIES AND EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD
        ENDED JUNE 30, 2002

OR

(  )    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
        SECURITIES AND EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD
        FROM ___________ TO ___________

        COMMISSION FILE NUMBER 0-13415


                   CONSOLIDATED RESOURCES HEALTH CARE FUND II
             (Exact name of registrant as specified in its charter)


                  Georgia                                        58-1542125
        (State or other jurisdiction                          (I.R.S. Employer
     of incorporation or organization)                       Identification No.)


1175 Peachtree Street, Suite 850, Atlanta, GA                       31106
  (Address of principal executive offices)                       (Zip Code)


                          (404) 873-1919 (Registrant's
                     telephone number, including area code)

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, and (2) has been subject to such filing requirements
for the past 90 days.    Yes       No  x
                            ----     ----

Indicate by check mark whether the registrant is an accelerated filer (as
defined in rule 126-2 of the Exchange Act).                Yes       No  x
                                                              ----     ----


<PAGE>


                          Part I. Financial Information

                   Consolidated Resources Health Care Fund II
                      Condensed Consolidated Balance Sheets


<TABLE>
<CAPTION>


                                                            June 30,
                                                              2002           December 31,
                                                          (Unaudited)            2001
                                                         ---------------    ---------------
<S>                                                          <C>                <C>

ASSETS
Current assets:
    Cash and cash equivalents                                $2,016,734         $1,496,189
    Accounts receivable,  net of allowance for doubtful
    accounts of $11,947 and $8,934, respectively                367,159            468,264
    Prepaid expenses and other                                    7,663             22,577
                                                         ---------------    ---------------
        Total current assets                                  2,391,556          1,987,030

Property and equipment
    Land                                                        178,609            178,609
    Buildings and improvements                                7,205,665          7,192,829
    Equipment and furnishings                                 1,348,063          1,259,391
                                                         ---------------    ---------------
                                                              8,732,337          8,630,829

    Accumulated depreciation and amortization                (6,251,496)       (6,005,933)
                                                         ---------------    ---------------
        Net property and equipment                            2,480,841          2,624,896
                                                         ---------------    ---------------

Other
    Restricted escrows and other deposits                       648,298            621,000
    Deferred loan costs, net of accumulated amortization
    of $16,682 and $17,460, respectively                         15,128             15,646
                                                         ---------------    ---------------
        Total other assets                                      663,426            636,646
                                                         ---------------    ---------------

                                                             $5,535,823         $5,248,572
                                                         ===============    ===============
</TABLE>


See accompanying notes to condensed consolidated financial statements.


                                                                          Page 2
<PAGE>


<TABLE>
<CAPTION>


                                                            June 30,
                                                              2002           December 31,
                                                           (Unaudited)           2001
                                                          --------------    ---------------
<S>                                                         <C>                 <C>

LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
Current liabilities:
    Current maturities of long-term debt                    $    92,283         $   90,464
    Accounts payable                                            186,482            119,524
    Accrued expenses                                            545,708            499,553
    Accrued management fees                                       ---                 ---
    Due to related party                                         78,591             52,631
    Deposit liabilities                                         102,467            173,500
                                                          --------------    ---------------
                                                              1,005,531            935,672
        Total current liabilities
                                                          --------------    ---------------

Long-term obligations, less current maturities                3,724,893          3,774,945
                                                          --------------    ---------------

        Total liabilities                                     4,730,424          4,410,617
                                                          --------------    ---------------

Partners' equity (deficit):
    Limited partners                                            940,751            684,005
    General partners                                           (135,352)         (146,050)
                                                          --------------    ---------------
        Total partners' equity                                  805,399            537,955
                                                          --------------    ---------------

                                                            $ 5,535,823         $5,248,572
                                                          ==============    ===============
</TABLE>


See accompanying notes to condensed consolidated financial statements.


                                                                          Page 3
<PAGE>


                   Consolidated Resources Health Care Fund II
                 Condensed Consolidated Statements of Operations
                                   (Unaudited)


<TABLE>
<CAPTION>


                                   Three months ended             Six months ended
                                        June 30,                      June 30,
                                   2002           2001           2002           2001
                               -------------  -------------  -------------  -------------
<S>                              <C>            <C>            <C>            <C>

Revenue:
    Operating revenues           $2,143,275     $2,051,073     $4,337,515     $3,970,921
    Interest income                  19,871         12,165         39,925         26,690
                               -------------  -------------  -------------  -------------
        Total revenue             2,163,146      2,063,238      4,377,440      3,997,611
                               -------------  -------------  -------------  -------------

Expenses:
    Operating expenses            1,817,065      1,710,065      3,622,140      3,401,505
    Depreciation &
    amortization                    123,041        125,821        246,082        244,883
    Interest                         73,485         73,598        146,053        147,751
    Partnership
      administration costs           33,975         19,675         95,721         52,794
                               -------------  -------------  -------------  -------------

Total expenses                    2,047,566      1,929,159      4,109,996      3,846,933
                               -------------  -------------  -------------  -------------

Net income                         $115,580       $134,079       $267,444      $ 150,678

                               =============  =============  =============  =============

Net income per L.P. unit            $  7.40        $  8.58       $  17.12        $  9.64

                               =============  =============  =============  =============

L.P. units outstanding               15,000         15,000         15,000         15,000
                               =============  =============  =============  =============
</TABLE>


See accompanying notes to condensed consolidated financial statements.


                                                                          Page 4
<PAGE>


                   Consolidated Resources Health Care Fund II
                 Condensed Consolidated Statements of Cash Flows
                                   (Unaudited)


<TABLE>
<CAPTION>


                                                           Six months ended June 30,
                                                             2002             2001
                                                         -------------     ------------
<S>                                                        <C>              <C>

Operating Activities:
    Cash   received  from   residents  and   government
    agencies                                                4,438,620        4,046,538
    Cash paid to suppliers and employees                   (3,652,893)      (3,384,741)
    Property Taxes Paid                                       (35,272)
    Interest received                                          39,925           26,690
    Interest paid                                            (146,053)        (147,751)
                                                         -------------     ------------

        Cash provided by operating activities                 644,327           540,736

Investing Activities:
    Additions to property and equipment                      (101,509)        (133,440)

Financing Activities:
    Principal payments on long-term debt                      (48,233)        (44,723)
    Increase (decrease) in amount due to related party         25,960         (15,913)
                                                         -------------     ------------
    Cash used in financing activities                         (22,273)        (60,636)
                                                         -------------     ------------

Net increase in cash and cash equivalents                     520,545          346,660
Cash and cash equivalents, beginning of period              1,496,189        1,105,822
                                                         -------------     ------------

Cash and cash equivalents, end of period                   $2,016,734       $1,452,482
                                                         =============     ============
</TABLE>


See accompanying notes to condensed consolidated financial statements.


                                                                          Page 5
<PAGE>


                   Consolidated Resources Health Care Fund II
                 Condensed Consolidated Statements of Cash Flows
                                   (Unaudited)


<TABLE>
<CAPTION>


                                                               Six months ended June 30,
                                                                2002              2001
                                                          ----------------    ------------
<S>                                                             <C>             <C>
Reconciliation of net income to cash
provided by (used in) operating activities:

   Net income                                                   $ 267,444       $ 150,678

          Depreciation and amortization                           246,082         244,883


          Changes in assets and liabilities:

              Accounts receivable                                 101,105          75,616

              Restricted escrows                                  (27,298)        (8,111)

              Prepaid expense and other assets                     14,914           6,046

              Accounts payable and accrued liabilities             42,080          71,623
                                                          ----------------    ------------

Cash provided by operating activities                           $ 644,327       $ 540,736
                                                          ================    ============
</TABLE>


See accompanying notes to condensed consolidated financial statements.


                                                                          Page 6
<PAGE>


                   CONSOLIDATED RESOURCES HEALTH CARE FUND II
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

                                  June 30, 2002


NOTE 1.

The financial  statements are unaudited and reflect all adjustments  (consisting
only of normal recurring  adjustments)  which are, in the opinion of management,
necessary  for a fair  presentation  of the  financial  position  and  operating
results of Consolidated  Resources Health Care Fund II (the  "Partnership")  for
the interim periods. The results of operations for the six months ended June 30,
2002, are not necessarily  indicative of the results to be expected for the year
ending December 31, 2002.

NOTE 2.

The  consolidated  financial  statements  should be read in conjunction with the
consolidated  financial  statements  and  the  notes  thereto  contained  in the
Partnership's  Annual Report on Form 10-K for the year ended  December 31, 2001,
as  filed  with  the  Securities  and  Exchange  Commission,  a copy of which is
available  upon  request by writing to WelCare  Service  Corporation-II  at Post
Office Box 8779, Atlanta, Georgia 31106.

NOTE 3.

A  summary  of  compensation   paid  to  or  accrued  for  the  benefit  of  the
Partnership's  general partners and their affiliates and amounts  reimbursed for
costs incurred by these parties on the behalf of the Partnership are as follows:

                                                  Six months ended June 30,

                                                     2002            2001
                                                     ----            ----
Charged to operating expenses:
    Property management and oversight
    management fees.........................       $44,038          $39,675

Financial accounting, data processing,
    tax reporting, legal and compliance,
    investor relations and supervision
    of outside services....................        $95,721          $52,794


                                                                          Page 7
<PAGE>


NOTE 4.

Net income or loss per limited  partnership  (L.P.) unit represents that portion
attributable to L.P. units in each period presented, which is 96% of such income
or loss. The remaining 4% is attributable to the general partners,  Consolidated
Associates II and WelCare Service Corporation-II.


                                                                          Page 8
<PAGE>


ITEM 2  MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

Certain statements contained in this Management  Discussion and Analysis are not
based on historical  facts,  but are  forward-looking  statements that are based
upon numerous  assumptions  about future conditions that may ultimately prove to
be inaccurate.  Actual events and results may materially differ from anticipated
results described in such statements.  The Partnership's ability to achieve such
results  is  subject  to  certain  risks  and  uncertainties.   Such  risks  and
uncertainties  include, but are not limited to, additional changes in healthcare
reimbursement  systems and rates,  the  availability  of capital and  financing,
changes to amounts  recorded as revenues due to final  resolution of amounts due
to and from third-party  payors,  and other factors  affecting the Partnership's
business that may be beyond its control.

At June 30,  2002,  the  Partnership  had two  general  partners  (the  "General
Partners"),   Consolidated   Associates   II  ("CA-II")   and  WelCare   Service
Corporation-II,  as managing general partner  ("WSC-II" or the "Managing General
Partner").

Results of Operations

Revenues:
---------

Operating  revenues increased by $92,202 for the quarter ended June 30, 2002, as
compared  to the same period for the prior  year,  and by  $366,594  for the six
months ended June 30, 2002, as compared to the prior six month period. Occupancy
levels at the retirement facility remained stable, as compared to the prior year
period,  but declined at the nursing  facility.  At June 30, 2002, the occupancy
rate at the retirement  facility was 89.9%,  compared to 89.7% at June 30, 2001,
and the occupancy rate of the nursing  facility was 92.7%,  compared to 95.1% at
June 30, 2001.  Notwithstanding  these variances in occupancy  rates,  operating
revenues  increased  due to  positive  Medicare  rate and mix  variances  at the
nursing facility,  an increase in the number of assisted living unit rentals and
periodic rate increases at the retirement facility, and, with respect to the six
month period, occupancy increases during the first quarter of the fiscal year at
both facilities.

Expenses:
---------

Operating  expenses increased by $187,000 for the quarter ended June 30, 2002 as
compared to the same period for the prior year,  and  increased  by $220,635 for
the six months ended June 30, 2002,  as compared to the prior six month  period.
The increase during the quarter is primarily due to increased labor expenses due
to  increased  staffing  levels  and hourly  wage  increases  at the  retirement
facility due to the provision of additional assisted living services,  partially
offset  by  reductions  in  labor,   contract   services  costs,   and  workers'
compensation  expenses at the nursing center.  The increase during the six month
period is also due to increased  management fees for the nursing facility due to
revenue  increases in the first quarter and increased plant contact  services at
the nursing facility.

Net Income:
-----------

Net income for the three months ended June 30, 2001  declined as compared to the
same period of the prior  fiscal  year by $18,499.  Net income for the six month
period ended June 30, 2002 exceeded net income for the prior six month period by
$116,766.  The  decrease in net income for the three month  period is  primarily
attributable to increases in operating expenses,  offset in part by increases in
revenues,  and increases in partnership  administrative  costs. The increase for
the six month  period was  attributable  primarily  to  increases  in  operating
revenues, offset in part by increases in operating expenses.


                                                                          Page 9
<PAGE>


Liquidity and Capital Resources:
--------------------------------

At June 30, 2002, the Partnership  held cash and cash equivalents of $2,016,734,
an increase of $520,545 from December 31, 2001. The current cash balance will be
necessary  to meet  the  Partnership's  current  obligations  and for  operating
reserves.  In  addition,  cash  balances  maintained  at the  Partnership's  two
facilities must be maintained in accordance with operating reserves  established
by HUD.

The  Partnership's  two facilities  produced  sufficient  revenues to meet their
operating  and  debt  service   obligations.   Management  believes  that  these
facilities  will  produce  positive  cash flow for the year ending  December 31,
2002;  however,  no  assurance  can be given that the  facilities  will  produce
positive cash flow if revenues decline.

As of June 30,  2002,  the  Partnership  was not  obligated to perform any major
capital  expenditures or renovations.  The Managing General Partner  anticipates
that any repairs, maintenance or capital expenditures will be financed with cash
reserves, HUD replacement reserves and cash flow from operations.

Significant   changes  have  and  will   continue  to  be  made  in   government
reimbursement  programs, and such changes could have a material impact on future
reimbursement formulas. The Balance Budget Act of 1997 has targeted the Medicare
program for reductions in spending  growth for skilled  nursing  facilities over
the next five years,  primarily  through the  implementation  of the prospective
payment system ("PPS")  reimbursement system. The Partnership's nursing facility
changed to the PPS reimbursement system on January 1, 1999.  Management believes
that  continued and increased  reductions in therapy  costs,  the use of general
purchasing agents and other expense reduction measures should in part offset the
effect of any rate reductions  arising from the PPS  reimbursement  system.  The
Partnership can give no assurance that payments under such program in the future
will  remain  at a level  comparable  to the  present  level  or  increase,  and
decreases in the level of payments  could have a material  adverse effect on the
Partnership.

New Accounting Pronouncements:
------------------------------

In December 2003, the Financial  Accounting  Standards  Board ("FASB")  issued a
revision to SFAS No.  132,  "Employers'  Disclosures  about  Pensions  and Other
Postretirement  Benefits."  This  statement  does not change the  measurement or
recognition  aspects  for  pensions  and  other  postretirement  benefit  plans;
however, it does revise employers' disclosures to include more information about
the plan assets, obligations to pay benefits and funding obligations.  SFAS 132,
as revised,  is generally  effective for financial  statements with fiscal years
ending after December 15, 2003. The adoption of the required  provisions of SFAS
132, as revised,  is not expected to have a material effect on the Partnership's
consolidated financial statements.

In May 2003,  the FASB issued SFAS No. 150,  "Accounting  for Certain  Financial
Instruments with  Characteristics  of both Liabilities and Equity." SFAS No. 150
clarifies the  definition  of a liability as currently  defined in FASB Concepts
Statement No. 6,  "Elements of Financial  Statements,"  as well as other planned
revisions.  This  statement  requires a financial  instrument  that  embodies an
obligation  of an issuer to be  classified  as a  liability.  In  addition,  the
statement  establishes  standards for the initial and subsequent  measurement of
these financial instruments and disclosure  requirements.  SFAS 150 is effective
for financial  instruments  entered into or modified  after May 31, 2003 and for
all other  matters,  is effective at the beginning of the first  interim  period
beginning after June 15, 2003.

In April 2003,  the FASB issued SFAS No. 149,  "Amendment  of  Statement  133 on
Derivative Instruments and Hedging Activities." SFAS No. 149 amends SFAS No. 133
for decisions made by the FASB's


                                                                         Page 10
<PAGE>


Derivatives  Implementation  Group,  other FASB projects  dealing with financial
instruments,  and in response to implementation issues raised in relation to the
application  of the  definition  of a  derivative.  This  statement is generally
effective  for  contracts  entered into or modified  after June 30, 2003 and for
hedging  relationships  designated after June 30, 2003. The adoption of SFAS 149
is not  expected  to  have a  material  effect  on the  Partnership's  financial
position or results of operations.

In January 2003, the FASB issued  Interpretation  ("FIN") No. 46, "Consolidation
of Variable  Interest  Entities" and in December 2003, a revised  interpretation
was issued (FIN No. 46, as  revised).  In general,  a variable  interest  entity
("VIE") is a corporation,  partnership, trust, or any other legal structure used
for business  purposes  that either does not have equity  investors  with voting
rights  or has  equity  investors  that  do  not  provide  sufficient  financial
resources for the entity to support its activities. FIN 46, as revised, requires
a VIE to be consolidated  by a Partnership if that  Partnership is designated as
the  primary  beneficiary.  The  interpretation  applies to VIEs  created  after
January 31, 2003,  and for all financial  statements  issued after  December 15,
2003 for VIEs in which an enterprise  held a variable  interest that it acquired
before February 1, 2003. The adoption of FIN 46, as revised,  is not expected to
have a material  effect on the  Partnership's  financial  position or results of
operations.

ITEM 3  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Partnership has not entered into any transactions using derivative financial
instruments  or other market risk  sensitive  instruments  and believes that its
exposure to market risk  associated with other  financial  instruments  (such as
investments and borrowings) and interest rate risk is not material.


ITEM 4  CONTROLS AND PROCEDURES

This report on Form 10-Q covers the fiscal  quarter  ended June 30, 2002.  As of
the end of that period, no evaluation  procedure was specified by the Securities
and Exchange  Commission with respect to the Partnership's  disclosure  controls
and  procedures  (as now  defined by Rules  13a-15(e)  and  15d-15(e)  under the
Securities  Exchange Act of 1934, as amended (the "Exchange Act")). In fact, the
concept of disclosure  controls and  procedures  had not yet been defined by the
above-referenced  rules.  However, in light of the recently adopted requirements
with  respect to  disclosure  controls and  procedures,  John F.  McMullan,  the
principal  executive officer and chief financial officer of the managing general
partner of the Partnership, who performs such functions for the Partnership, has
evaluated the  effectiveness  of the design and  operation of the  Partnership's
disclosure  controls and procedures in connection  with the  preparation of this
report  on Form  10-Q.  Based  on that  evaluation,  he has  concluded  that the
Partnership's  disclosure controls and procedures are effective at ensuring that
required   information   is  made   available  to  him  for  disclosure  in  the
Partnership's  reports filed under the Exchange Act. However, the Partnership is
not timely in filing its reports with the  Securities  and Exchange  Commission.
The  Partnership  is in the process of bringing its filings with the  Securities
and Exchange  Commission up to date and in connection with those efforts intends
to improve its disclosure controls and procedures such that material information
will be made available on a timely basis for disclosure in required reports.


In connection with such review, Mr. McMullan also conducted a preliminary review
of the  Partnership's  internal  control  over  financial  reporting.  While the
Managing Partner (MCII) has an informal system of internal  controls,  given the
size of the Partnership and the control  structures in place at each subsidiary,
management does not believe that any material  weaknesses  exist in the internal
controls  that could have a material  effect on the  financial  reporting of the
Partnership.   Management   intends  to  conduct   additional   reviews  of  the
Partnership's  systems of internal  control,  including  control over  financial
reporting,  and will  seek  appropriate  advice  from its  independent  auditors
regarding recommendations for improving


                                                                         Page 11
<PAGE>


such controls. No changes were been made in internal control over financial
reporting during the quarter covered by this report.

                           Part II - Other Information

ITEM 5  EXHIBITS AND REPORTS ON FORM 8-K

Exhibit 31.1 Certification Pursuant to 17 CFR 240.13a-14.

Exhibit 32.1 Certification  Pursuant to 18 U.S.C.  Section 1350, as adopted
             pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.


                                                                         Page 12
<PAGE>


                                   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.


                         CONSOLIDATED RESOURCES HEALTH CARE FUND II

                         By: WELCARE SERVICE CORPORATION - II
                             Managing General Partner



Date: August 5, 2004              By: /s/ John F. McMullan
     ------------------              -----------------------------
                                     John F. McMullan
                                     Chief Financial Officer



Date: August 5, 2004              By: /s/ Marilyn McMullan
     ------------------              -----------------------------
                                     Marilyn McMullan
                                     Assistant Secretary