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                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549


                                   FORM 10-K/A


(Mark One)
[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934  
For the fiscal year ended  December 31, 1996

                                       OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
For the transition period from  __________  to  _____________



                      FIRSTPLUS HOME LOAN OWNER TRUSTS
                   (Issuer with respect to the Securities)


                      FIRSTPLUS INVESTMENT CORPORATION
                 (Originator of the Trusts described herein)
           (Exact name of Registrant as specified in its charter)


        Nevada                      33-65373                     75-2596063
(State of Incorporation)       (Commission File No.)          (I.R.S. Employer
                                                             Identification No.)

    3773 Howard Hughes Parkway
           Suite 300N
        Las Vegas, Nevada                                        89109
(Address of Principal executive offices)                       (Zip Code)


     Registrant's Telephone Number, Including Area Code: (702) 892-3772


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Securities registered pursuant to Section 12(b) of the Act:  None

Securities registered pursuant to Section 12(g) of the Act:  None

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 /  /

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of Registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to
this Form 10-K.  /  /

Aggregate market value of voting stock held by nonaffiliates of the Registrant
as of the latest practicable date, December 31, 1996:  None

As of December 31, 1996, the latest practicable date, there were 1,000 shares
of FIRSTPLUS INVESTMENT CORPORATION common stock outstanding.

The Registrant meets the conditions set forth in General Instruction I(1)(a)
and (b) of Form 10-K and, therefore, is furnishing the abbreviated narrative
disclosure specified in Paragraph (2) of General Instruction I.


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                               TABLE OF CONTENTS


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                                                                        Page No.
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PART IV

         Item 14.    Exhibits, Financial Statement Schedules, and Reports
                     on Form 8-K
</TABLE>

Signatures





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                                    PART IV

The Registrant is filing this Annual Report on Form 10-K/A solely for the
purpose of filing Exhibits 13.1, 13.2, 13.3, and 28.1 which were omitted from
the initial filing.

ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.

         (a)     Not applicable.

         (b)     Not applicable.

         (c)     Exhibits

                 13.1     Annual Report Aggregating Servicer Monthly Remittance
                          Reports for Series 1996-2 for the fiscal year ended
                          December 31, 1996.

                 13.2     Annual Report Aggregating Servicer Monthly Remittance
                          Reports for Series 1996-3 for the fiscal year ended
                          December 31, 1996.

                 13.3     Annual Report Aggregating Servicer Monthly Remittance
                          Reports for Series 1996-4 for the fiscal year ended
                          December 31, 1996.

                 28.1     Quarterly Statements of Compliance of Servicer for 
                          Series 1996-2 and Series 1996-3.



         (d)     Not applicable.





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                                   SIGNATURES

         Pursuant to the requirements of Section 13 or 15(d) 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.

                                           FIRSTPLUS INVESTMENT CORPORATION



                                           By: /s/ CHRISTOPHER J. GRAMLICH
                                              -------------------------------
                                              Christopher J. Gramlich
                                              Senior Vice President

Dated:  July 17, 1997







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                              INDEX TO EXHIBITS

<TABLE>
  EXHIBIT
  NUMBER                         DESCRIPTION
  ------                         -----------
<CAPTION>
    <S>      <C>
    13.1     Annual Report Aggregating Servicer Monthly Remittance
             Reports for Series 1996-2 for the fiscal year ended
             December 31, 1996.

    13.2     Annual Report Aggregating Servicer Monthly Remittance
             Reports for Series 1996-3 for the fiscal year ended
             December 31, 1996.

    13.3     Annual Report Aggregating Servicer Monthly Remittance
             Reports for Series 1996-4 for the fiscal year ended
             December 31, 1996.

    28.1     Quarterly Statements of Compliance of Servicer for 
             Series 1996-2 and Series 1996-3.


</TABLE>