FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   (Mark One)

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

                For the quarterly period ended December 31, 2001

                                       OR

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

             For the transition period from ________ to ___________

                        Commission file number: 333-76435


                 WNC HOUSING TAX CREDIT FUND VI, L.P., Series 7


                      California                              33-0761517
            (State or other jurisdiction of               (I.R.S. Employer
             incorporation or organization)                 Identification No.)


                         3158 Redhill Avenue, Suite 120
                              Costa Mesa, CA 92626
                    (Address of principal executive offices)

                                 (714) 662-5565
                               (Telephone number)

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
    ---------     ---------


<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)


                               INDEX TO FORM 10-Q

              For the Three and Nine months Ended December 31, 2001




PART I. FINANCIAL INFORMATION


   Item 1. Financial Statements
     Balance Sheets
       December 31, 2001 and March 31, 2001 ..................................3

     Statements of Operations
       For the three and nine months ended December 31, 2001 and 2000.........4

     Statement of Partners' Equity (Deficit)
       For the nine months ended December 31, 2001............................5

     Statement of Cash Flows
       For the nine months ended December 31, 2001 and 2000...................6

     Notes to Financial Statements............................................7

   Item 2.  Management's Discussion and Analysis of Financial
       Condition and Results of Operations...................................14

   Item 3.  Quantitative and Qualitative Disclosures About Market Risks......15


PART II. OTHER INFORMATION

   Item 1.  Legal Proceedings................................................15

   Item 6.  Exhibits and Reports on Form 8-K.................................15

   Signatures ...............................................................16

                                       2
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)
<TABLE>
<CAPTION>

                                 BALANCE SHEETS




                                                                   December 31, 2001               March 31, 2001
                                                                 -----------------------        ----------------------
                                                                      (unaudited)
                                                       ASSETS

<S>                                                           <C>                            <C>
Cash and cash equivalents                                     $               4,381,323      $              5,103,916
Funds held in escrow disbursement accounts                                      616,166                     5,664,138
Subscription and notes receivable (Note 5)                                            -                       398,750
Investments in limited partnerships (Note 3)                                 12,293,014                     9,482,570
Loans receivable (Note 2)                                                       860,778                     1,080,974
Accrued interest receivable and other assets                                     26,827                        65,565
                                                                 -----------------------        ----------------------

                                                              $              18,178,108      $             21,795,913
                                                                 =======================        ======================


                                     LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
Liabilities:
   Due to limited partnerships                                $               1,719,273      $              5,142,481
   Accrued fees and expenses due to General
      Partner and affiliates (Note 4)                                           121,500                       112,886
                                                                 -----------------------        ----------------------

Total liabilities                                                             1,840,773                     5,255,367
                                                                 -----------------------        ----------------------

Commitment and contingencies (Note 7)

Partners' equity (deficit) (Note 5):
   General Partner                                                               (1,664)                        (1,424)

   Limited Partners (25,000 units authorized and
     18,850 units issued and outstanding at December
     31,  and March 31, 2001)                                                16,338,999                    16,541,970
                                                                 -----------------------        ----------------------

Total partners' equity                                                       16,337,335                    16,540,546
                                                                 -----------------------        ----------------------

                                                              $              18,178,108      $             21,795,913
                                                                 =======================        ======================
</TABLE>


                 See accompanying notes to financial statements
                                        3
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                            STATEMENTS OF OPERATIONS

         For the Three and Nine months Ended December 31, 2001 and 2000
                                   (unaudited)


<TABLE>
<CAPTION>
                                                                       2001                                   2000
                                                      ---------------------------------------   ----------------------------------
                                                        Three months          Nine months        Three months        Nine months
                                                      -----------------     -----------------   ----------------    --------------

<S>                                                 <C>                   <C>                            <C>      <C>
Interest income                                     $           23,357    $         102,742              79,266   $      232,255
                                                      -----------------     -----------------   ----------------    --------------

Operating expenses:
     Amortization (Note 3)                                      14,229               42,687              12,546           26,388
     Asset management fees (Note 4)                             12,405               25,871              19,313           24,057
     Legal and accounting fees                                  17,835               29,251               3,464           18,479
     Other                                                      28,938               35,319               3,899           11,356
                                                      -----------------     -----------------   ----------------    --------------

       Total operating expenses                                 73,407              133,128              39,222           80,280
                                                      -----------------     -----------------   ----------------    --------------

Income (loss) from operations                                 (50,050)             (30,386)              40,044          151,975
                                                      -----------------     -----------------   ----------------    --------------

Equity in losses of limited partnerships (Note 3)             (64,289)             (202,685)           (83,620)         (204,434)
                                                      -----------------     -----------------   ----------------    --------------

Net loss                                            $        (114,339)    $       (233,071)  $         (43,576)   $     (52,459)
                                                      =================     =================   ================    ==============

Net loss allocated to:
     General Partner                                $            (114)    $           (233)  $             (43)   $         (52)
                                                      =================     =================   ================    ==============
                                                                                                                  $
     Limited Partners                               $        (114,225)    $       (232,838)            (43,532)         (52,407)
                                                      =================     =================   ================    ==============

Net loss per limited partnership unit               $              (6)    $             (13)                (2)   $          (4)
                                                      =================     =================   ================    ==============

Outstanding weighted average
   limited partner units                                        18,550                18,550             18,166            13,180
                                                      =================     =================   ================    ==============

</TABLE>



                 See accompanying notes to financial statements
                                       4
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                     STATEMENT OF PARTNERS' EQUITY (DEFICIT)

                   For the Nine months Ended December 31, 2001
                                   (unaudited)


<TABLE>
<CAPTION>

                                                        General             Limited
                                                        Partner             Partners                Total
                                                    ----------------     ----------------     ------------------

<S>                                               <C>                  <C>                  <C>
Partners' equity (deficit) at March 31, 2001      $         (1,424)    $     16,541,970     $       16,540,546

Sale of limited partnership units issued for
   promissory notes receivable                                   -               37,000                 37,000

Offering expenses                                               (7)              (7,133)                (7,140)

Net loss                                                      (233)            (232,838)              (233,071)
                                                    ----------------     ----------------     ------------------

Partners' equity (deficit) at December 31, 2001   $         (1,664)          16,338,999             16,337,335
                                                    ================     ================     ==================

</TABLE>



                 See accompanying notes to financial statements
                                        5
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                             STATEMENT OF CASH FLOWS

              For the Nine months Ended December 31, 2001 and 2000
                                   (unaudited)
<TABLE>
<CAPTION>

                                                                          2001                   2000
                                                                          ----                   ----
Cash flows from operating activities:
<S>                                                         <C>                      <C>
   Net loss                                                 $           (233,071)   $         (52,459)
   Adjustments to reconcile net income to net cash
      provided by operating activities:
      Amortization                                                        42,687               26,388
      Equity in losses of limited partnerships                           202,685              204,434
      Accrued interest receivable                                         38,738               27,963
      Accrued fees and expenses due to General
       Partner and affiliates                                              8,614              (12,068)
                                                               -------------------      ---------------

Net cash provided by operating activities                                 59,653              194,258
                                                               -------------------      ---------------

Cash flows from investing activities:
   Investments in limited partnerships, net                           (6,479,024)          (1,776,220)
   Funds held in escrow disbursement account                           5,047,972           (6,045,342)
   Loans receivable                                                      220,196             (926,974)
   Capitalized acquisition costs and fees                                      -           (1,099,080)
                                                               -------------------      ---------------

Net cash used in investing activities                                 (1,210,856)          (9,847,616)
                                                               -------------------      ---------------

Cash flows from financing activities:
   Capital contributions                                                 435,750           11,801,920
   Offering expenses                                                      (7,140)          (1,546,485)
                                                               -------------------      ---------------

Net cash provided by financing activities                                428,610           10,255,435
                                                               -------------------      ---------------

Net (decrease) increase in cash and cash equivalents                    (722,593)             602,077
                                                               -------------------      ---------------

Cash and cash equivalents, beginning of period                         5,103,916            4,295,471
                                                               -------------------      ---------------

Cash and cash equivalents, end of period                    $          4,381,323     $      4,897,548
                                                               ===================      ===============

SUPPLEMENTAL DISCLOSURE OF CASH
   FLOW INFORMATION
      Taxes paid                                            $                800     $            800
                                                               ===================      ===============
</TABLE>


                 See accompanying notes to financial statements
                                        6

<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                       For the Three and Nine Months Ended
                                December 31, 2001
                                   (unaudited)




NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

General

The accompanying  condensed unaudited financial statements have been prepared in
accordance with generally accepted  accounting  principles for interim financial
information and with the  instructions to Form 10-Q for quarterly  reports under
Section 13 or 15(d) of the Securities Exchange Act of 1934. Accordingly, they do
not include all of the information and footnotes  required by generally accepted
accounting  principles  for  complete  financial  statements.  In the opinion of
management, all adjustments (consisting of normal recurring accruals) considered
necessary for a fair presentation have been included.  Operating results for the
three and nine months ended December 31, 2001 are not necessarily  indicative of
the results that may be expected for the fiscal year ending March 31, 2002.  For
further  information,  refer to the financial  statements and footnotes  thereto
included  in the  Partnership's  annual  report on Form 10-K for the fiscal year
ended March 31, 2001.

Organization

WNC  Housing  Tax  Credit  Fund  VI,  L.P.,  Series  7,  (a  California  Limited
Partnership) (the  "Partnership")  was formed on June 16, 1997 under the laws of
the state of California.  The Partnership began operations on September 3, 1999,
the  effective  date of its public  offering  pursuant to Security  and Exchange
approval of the Partnership's  Pre-Effective  Amendment No. 3 to Form S-11 filed
with the  Securities and Exchange  Commission on July 16, 1999. The  Partnership
was formed to invest primarily in other limited partnerships (the "Local Limited
Partnerships")  which  own  and  operate  multi-family  housing  complexes  (the
"Housing  Complexes") that are eligible for low income housing tax credits.  The
local  general  partners  (the "Local  General  Partners") of each Local Limited
Partnership will retain  responsibility for maintaining,  operating and managing
the Housing Complex.

WNC & Associates,  Inc. ("WNC") a California  corporation and Wilfred N. Cooper,
Sr.  are the  general  partners  (collectively  the  "General  Partner")  of the
Partnership.  Wilfred N. Cooper,  Sr., through the Cooper Revocable Trust,  owns
93.65% of the outstanding  stock of WNC.  Wilfred N. Cooper,  Jr.,  President of
WNC, owns 3.01% of the outstanding stock of WNC. The business of the Partnership
is conducted  primarily  through WNC, as the Partnership has no employees of its
own.

The Partnership shall continue in full force and effect until December 31, 2060,
unless terminated prior to that date,  pursuant to the partnership  agreement or
law.

The financial  statements  include only activity relating to the business of the
Partnership,  and do not give  effect to any assets that the  partners  may have
outside of their interests in the Partnership, or to any obligations,  including
income taxes, of the partners.

The  Partnership  agreement  authorized the sale of up to 25,000 units at $1,000
per  Unit  ("Units").  As of  September  31,  2001,  18,850  Units  representing
subscriptions  in the  amount  of  $18,828,745  had  been  sold,  net of  volume
discounts of $45 and $21,210 of dealer discounts, had been accepted. The General
Partner has a 0.1% interest in operating profits and losses,  taxable income and
losses,  cash available for distribution from the Partnership and tax credits of
the  Partnership.  The limited partners will be allocated the remaining 99.9% of
these items in proportion to their respective investments.

                                       7

<PAGE>
                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                       For the Three and Nine Months Ended
                                December 31, 2001
                                   (unaudited)



NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued

After the limited  partners  have received  proceeds from a sale or  refinancing
equal to their capital  contributions and their return on investment (as defined
in the  Partnership  Agreement)  and the General  Partner has received  proceeds
equal  to its  capital  contribution  and a  subordinated  disposition  fee  (as
described in Note 4) from the  remainder,  any  additional  sale or  refinancing
proceeds will be distributed 90% to the limited partners (in proportion to their
respective investments) and 10% to the General Partner.

Risks and Uncertainties

The Partnership's  investments in Local Limited  Partnerships are subject to the
risks incident to the management and ownership of low-income  housing and to the
management and ownership of multi-unit  residential  real estate.  Some of these
risks  are that the low  income  housing  credit  could be  recaptured  and that
neither the  Partnership's  investments  nor the Housing  Complexes owned by the
Local Limited Partnerships will be readily marketable. To the extent the Housing
Complexes  receive  government  financing  or operating  subsidies,  they may be
subject to one or more of the following risks: difficulties in obtaining tenants
for the Housing Complexes: difficulties in obtaining rent increases; limitations
on cash distributions; limitations on sales or refinancing of Housing Complexes;
limitations on transfers of Local Limited Partnership Interests:  limitations on
removal of Local General Partners; limitations on subsidy programs; and possible
changes in applicable regulations.  The Housing Complexes are or will be subject
to  mortgage  indebtedness.  If a Local  Limited  Partnership  does not make its
mortgage payments, the lender could foreclose resulting in a loss of the Housing
Complex  and  low-income  housing  credits.  As a limited  partner  of the Local
Limited Partnerships, the Partnership will have very limited rights with respect
to management of the Local  Limited  Partnerships,  and will rely totally on the
Local General  Partners of the Local Limited  Partnerships for management of the
Local Limited Partnerships.  The value of the Partnership's  investments will be
subject  to  changes  in  national  and  local  economic  conditions,  including
unemployment  conditions,  which could adversely  impact vacancy levels,  rental
payment  defaults and operating  expenses.  This, in turn,  could  substantially
increase  the  risk of  operating  losses  for  the  Housing  Complexes  and the
Partnership.  In addition,  each Local Limited  Partnership  is subject to risks
relating  to  environmental  hazards  and  natural  disasters,  which  might  be
uninsurable. Because the Partnership's operations will depend on these and other
factors  beyond  the  control  of the  General  Partner  and the  Local  General
Partners,  there can be no assurance  that the  anticipated  low income  housing
credits will be available to Limited Partners.

In addition  Limited  Partners are subject to risks in that the rules  governing
the low income  housing  credit are  complicated,  and the use of credits can be
limited.  The only  material  benefit from an investment in Units may be the low
income housing credits. There are limits in the transferability of Units, and it
is unlikely that a market for Units will develop.  All management decisions will
be made by the General Partner.

                                       8
<PAGE>

                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                       For the Three and Nine Months Ended
                                December 31, 2001
                                   (unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued

Method of Accounting for Investments in Limited Partnerships

The Partnership  intends to account for its investments in limited  partnerships
using the equity method of accounting,  whereby the Partnership  will adjust its
investment balance for its share of the Local Limited  Partnership's  results of
operations and for any distributions  received.  The accounting  policies of the
Local  Limited  Partnerships  are  expected to be  consistent  with those of the
Partnership. Costs incurred by the Partnership in acquiring the investments will
be  capitalized  as part of the investment and amortized over 30 years (see Note
3).

Offering Expenses

Offering  expenses are expected to consist of  underwriting  commissions,  legal
fees,  printing,  filing and  recordation  fees,  and other  costs  incurred  in
connection with the selling of limited partnership interests in the Partnership.
The General  Partner is obligated to pay all  offering  and  organization  costs
inclusive of selling commissions and dealer manager fees, in excess of 4% of the
total  offering  proceeds.  Offering  expenses  are  reflected as a reduction of
limited  partners'  capital and  amounted to  $2,429,245  and  $2,422,105  as of
December 31, 2001 and March 31, 2001, respectively.

Use of Estimates

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect  the  reported  amounts  of assets  and  liabilities  and  disclosure  of
contingent assets and liabilities at the date of the financial  statements,  and
the  reported  amounts of revenues  and expenses  during the  reporting  period.
Actual results could materially differ from those estimates.

Cash and Cash Equivalents

The  Partnership   considers  all  highly  liquid   investments  with  remaining
maturities of three months or less when purchased to be cash equivalents.  As of
December 31, 2001 and March 31, 2001 the  Partnership  had cash  equivalents  of
$1,004,000 and $2,128,000,  respectively. These amounts consist primarily of tax
exempt  instruments  collateralized  by tax exempt  municipal bonds from various
municipalities  throughout the United  States.  These  instruments  generate tax
exempt yields and generally have 35 days or less maturities.

Concentration of Credit Risk

At December  31,  2001,  the  Partnership  maintained  cash  balances at certain
financial institutions in excess of the federally insured maximum.

Net Income Per Limited Partner Unit

Net income per limited  partnership unit is calculated  pursuant to Statement of
Financial  Accounting Standards No. 128, Earnings Per Share. Net income per unit
includes no dilution  and is computed by dividing  income  available  to limited
partners by the weighted average number of units outstanding  during the period.
Calculation of diluted net income per unit is not required.


                                       9
<PAGE>

                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                       For the Three and Nine Months Ended
                                December 31, 2001
                                   (unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued

Reporting Comprehensive Income

In June 1997,  the FASB  issued  Statement  of  Financial  Accounting  Standards
("SFAS") No. 130, Reporting  Comprehensive  Income.  This statement  establishes
standards for reporting the components of comprehensive income and requires that
all items that are  required to be  recognized  under  accounting  standards  as
components of comprehensive  income be included in a financial statement that is
displayed with the same prominence as other financial statements.  Comprehensive
income  includes net income as well as certain items that are reported  directly
within a separate  component of partners' equity and bypass net income.  For the
periods  presented,  the  Partnership  has no  elements  of other  comprehensive
income, as defined by SFAS No. 130.

Reclassification

Certain  prior  period  balances  have  been  reclassified  to  conform  to  the
presentation for the three and nine months ended December 31, 2001.

NOTE 2 - LOANS RECEIVABLE

Loans  receivable  represent  amounts loaned by the Partnership to certain Local
Limited  Partnerships  in which the  Partnership  may  invest.  These  loans are
generally applied against the first capital  contribution due if the Partnership
ultimately invests in such entities.  In the event that the Partnership does not
invest in such  entities,  the loans are to be repaid  with  interest at a rate,
which is equal to the rate charged to the holder.  At December  31, 2001,  loans
receivable were due from three different Local Limited Partnerships.

NOTE 3 - INVESTMENTS IN LIMITED PARTNERSHIPS

As of December 31, 2001 and March 31, 2001, the Partnership has acquired limited
partnership   interests  in  eleven  and  eight  Local   Limited   Partnerships,
respectively. Each Local Limited Partnership owns one Housing Complex consisting
of an aggregate of 386 and 291 apartment units, respectively. As of December 31,
2001 construction or rehabilitation of three of the Housing Complexes were still
in process.  The respective  general partners of the Local Limited  Partnerships
manage the  day-to-day  operations  of the entities.  Significant  Local Limited
Partnership  business  decisions  require  approval  from the  Partnership.  The
Partnership, as a limited partner, is generally entitled to 99.98%, as specified
in the Local  Limited  Partnership  agreements,  of the  operating  profits  and
losses,  taxable  income  and  losses  and  tax  credits  of the  Local  Limited
Partnerships.

Equity  in  losses  of the  Local  Limited  Partnerships  is  recognized  in the
financial  statements until the related  investment account is reduced to a zero
balance. Losses incurred after the investment account is reduced to zero are not
recognized. If the Local Limited Partnerships report net income in future years,
the  Partnership  will resume applying the equity method only after its share of
such net  income  equals  the share of net  losses  not  recognized  during  the
period(s) the equity method was suspended.

Distributions  received by limited  partners are accounted for as a reduction of
the investment balance.  Distributions received after the investment has reached
zero are recognized as income.  As of December 31, 2001, no investment  accounts
in Local Limited Partnerships has reached zero.


                                       10
<PAGE>

                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                       For the Three and Nine Months Ended
                                December 31, 2001
                                   (unaudited)


NOTE 3 - INVESTMENTS IN LIMITED PARTNERSHIPS, continued

Following is a summary of the equity method activity of the investments in
limited partnerships for the periods presented:
<TABLE>
<CAPTION>

                                                               For the Nine months
                                                                      Ended                 For the Year Ended
                                                                December 31, 2001             March 31, 2001
                                                              -----------------------   ----------------------------

<S>                                                         <C>                       <C>
  Investment in limited partnerships, beginning of period   $             9,482,570   $                  1,284,221
  Capital contributions paid, net                                         2,829,576                      2,205,074
  Capital contributions payable                                             229,157                      5,071,026
  Capitalized acquisition fees and costs                                          -                      1,053,270
  Equity in losses of limited partnerships                                 (202,685)                       (90,404)
  Amortization of capitalized
    acquisition fees and costs                                              (42,687)                       (40,617)
  Tax credit adjustment                                                      (2,917)                              -
                                                              -----------------------   ----------------------------

  Investment in limited partnerships, end of period         $            12,293,014   $                  9,482,570
                                                              =======================   ============================
</TABLE>

Selected financial information for the nine months ended December 31, 2001 and
2000 from the unaudited combined condensed financial statements of the limited
partnerships in which the Partnership has invested as follows:
<TABLE>
<CAPTION>

                     COMBINED CONDENSED STATEMENT OF OPERATIONS

                                                                       2001                   2000
                                                                 -------------------    ------------------

<S>                                                            <C>                    <C>
         Revenue                                               $         1,158,000    $          338,000
                                                                 -------------------    ------------------

         Expenses:
           Interest expense                                                431,000               113,000
           Depreciation                                                    310,000               101,000
           Operating expenses                                              620,000               328,000
                                                                 -------------------    ------------------
             Total expenses                                              1,361,000               542,000
                                                                 -------------------
                                                                                        ------------------
         Net loss                                              $          (203,000)   $         (204,000)
                                                                 ===================    ==================
         Net loss allocable to the
              Partnership                                      $          (203,000)   $         (204,000)
                                                                 ===================    ==================
         Net loss recorded by the
              Partnership                                      $          (203,000)   $         (204,000)
                                                                 ===================    ==================
</TABLE>

                                       11
<PAGE>
                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                       For the Three and Nine Months Ended
                                December 31, 2001
                                   (unaudited)



NOTE 4 - RELATED PARTY TRANSACTIONS

The Partnership has no officers,  employees,  or directors.  However,  under the
terms of the  Partnership  Agreement the Partnership is obligated to the General
Partner or its affiliates for the following fees:

     (a)  Acquisition fees of 7% of the gross proceeds from the sale of Units as
          compensation for services  rendered in connection with the acquisition
          of Local Limited  Partnerships.  As of December 31, 2001 and March 31,
          2001,  the  Partnership   incurred  acquisition  fees  of  $1,319,500.
          Accumulated  amortization of these  capitalized costs were $67,872 and
          $34,881 as of December 31, 2001 and March 31, 2001, respectively.

     (b)  Acquisition  costs of 2% of the gross proceeds from the sales of Units
          as full  reimbursement  of costs  incurred by the  General  Partner in
          connection with the acquisition of Local Limited  Partnerships.  As of
          December  31,  2001 and  March  31,  2001,  the  Partnership  incurred
          acquisition costs of $377,000.  Accumulated  amortization were $19,830
          and $10,134 as of December 31, 2001 and March 31, 2001, respectively.

     (c)  An annual  asset  management  fee not to exceed  0.2% of the  invested
          assets  (defined  as  the  Partnership's  capital  contributions  plus
          reserves of the  Partnership  of up to 5% of gross  proceeds  plus its
          allocable  percentage  of the mortgage  debt  encumbering  the housing
          complexes)  of the  Local  Limited  Partnerships.  Management  fees of
          $25,871  and  $34,573  were  incurred  during  the nine  months  ended
          December 31, 2001 and the year ended March 31, 2001, respectively.

     (d)  A subordinated  disposition  fee in an amount equal to 1% of the sales
          price of real estate sold.  Payment of this fee is subordinated to the
          limited  partners  receiving a return on investment (as defined in the
          Partnership  Agreement) and is payable only if the General  Partner or
          its affiliates render services in the sales effort.

The accrued fees and expenses due to the General Partner and affiliates  consist
of the following at:
<TABLE>
<CAPTION>

                                                                    December 31, 2001       March 31, 2001
                                                                  ----------------------   ------------------
<S>                                                             <C>                      <C>
         Interest payable to Local Limited Partnerships         $                86,524  $            66,436
         Organizational, offering and selling costs payable                       2,590               21,735
         Asset management fee payable                                            31,086               24,715
         Reimbursement for expenses paid by
           the General Partner or an affiliate                                    1,300                    -
                                                                  ----------------------   ------------------

                                                                $               121,500  $           112,886
                                                                  ======================   ==================
</TABLE>

The General  Partners do not anticipate that the accrued fees will be paid until
such time as  capital  reserves  are in excess  of  future  foreseeable  working
capital requirements.

                                       12
<PAGE>
                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                       For the Three and Nine Months Ended
                                December 31, 2001
                                   (unaudited)



NOTE 5 - SUBSCRIPTIONS AND NOTES RECEIVABLE

As of December 31, 2001, the Partnership had received  subscriptions  for 18,850
units which  included  promissory  notes of $282,250,  of which  $282,250 of the
promissory  notes  were  collected  before  December  31,  2001 and prior to the
issuance of these financial statements, leaving an unpaid balance of $0. Limited
partners who subscribed for ten or more units of limited  partnerships  interest
($10,000) could elect to pay 50% of the purchase price in cash upon subscription
and the  remaining 50% by the delivery of a promissory  note  payable,  together
with  interest at a rate equal to the three month  treasury  bill rate as of the
date of execution of the promissory  note, due no later than 13 months after the
subscription date.

NOTE 6 - INCOME TAXES

No provision for income taxes has been recorded in the financial statements,  as
any  liability  for  income  taxes  is the  obligation  of the  partners  of the
Partnership.

NOTE 7 - COMMITMENTS AND CONTINGENCIES

In January 2002, the Partnership made previously committed capital contributions
in the amount of $100,000.


                                       13

<PAGE>



Item 2. Management's  Discussion and Analysis of Financial Condition and Results
of Operations

Forward Looking Statements

With  the  exception  of  the  discussion  regarding   historical   information,
"Management's  Discussion  and  Analysis of Financial  Condition  and Results of
Operations"  and other  discussions  elsewhere in this Form 10-Q contain forward
looking statements. Such statements are based on current expectations subject to
uncertainties and other factors,  which may involve known and unknown risks that
could  cause  actual  results  of  operations  to differ  materially  from those
projected or implied. Further, certain forward-looking statements are based upon
assumptions about future events, which may not prove to be accurate.

Risks and uncertainties  inherent in forward looking statements include, but are
not  limited  to,  our  future  cash  flows and  ability  to  obtain  sufficient
financing, level of operating expenses, conditions in the low income housing tax
credit property market and the economy in general, as well as legal proceedings.
Historical  results are not necessarily  indicative of the operating results for
any future period.

Subsequent  written and oral forward  looking  statements  attributable to us or
persons  acting on our behalf  are  expressly  qualified  in their  entirety  by
cautionary  statements  in this Form 10-Q and in other reports we filed with the
Securities and Exchange  Commission.  The following discussion should be read in
conjunction  with the  Consolidated  Financial  Statements and the Notes thereto
included elsewhere in this filing.

The following discussion and analysis compares the results of operations for the
fiscal  quarter  ended  December  31,  2001  and  2000,  and  should  be read in
conjunction   with  the  condensed   consolidated   financial   statements   and
accompanying notes included within this report.

Financial Condition

The Partnership's  assets at December 31, 2001 consisted primarily of $4,381,000
in cash and cash equivalents,  $616,000 in cash in escrow, aggregate investments
in the eleven Local Limited  Partnerships  of $12,293,000  and $861,000 in loans
receivable.  Liabilities at December 31, 2001 primarily  consisted of $1,719,000
due  to  limited  partnerships,   $35,000  of  accrued  asset  management  fees,
commissions payable, and reimbursements due to the General Partner or affiliates
and $86,000 in interest payable.

Results of Operations

Three months Ended December 31, 2001 Compared to Three months Ended December 31,
2000.  The  Partnership's  net loss for the three months ended December 31, 2001
was  $(114,000),  reflecting an increase in loss of $(70,000) from the $(44,000)
net loss for the three months ended  December 31, 2000. The increase in net loss
was  primarily  due to a decrease in income  from  operations  of (90,000)  from
income of $40,000 to a loss of $(50,000) for the three months ended December 31,
2000 and 2001,  respectively.  The decrease in income from  operations is caused
primarily  by the  decrease of  $(56,000)  in interest  income,  from $79,000 to
$23,000  for the  three  months  ended  December  31,  2000  compared  to  2001,
respectively  and an  increase  in  operating  expense of $34,000  for the three
months ended December 31, 2001 compared to 2000 caused  primarily by the reserve
for the  uncollectibility  of interest  receivable accrued during the prior year
ended March 31, 2001 of $0.00.  Along with the  increase in net loss,  equity in
losses of limited partnerships  decreased by $20,000 to $(64,000) from $(84,000)
for the three months ended December 31, 2001 and 2000, respectively.

Nine months Ended  December 31, 2001 Compared to Nine months Ended  December 31,
2000. The Partnership's net loss for the nine months ended December 31, 2001 was
$(233,000),  reflecting an increase in loss of $(181,000) from the $(52,000) net
loss  experienced  for the nine months ended  December 31, 2000. The increase in
net loss was primarily due to a decrease in income from operations of $(103,000)
from income  $152,000 to a loss of $(30,000) for the nine months ended  December
31, 2000 and 2001,  respectively.  The change in operations is due to a decrease
of $(129,000) in interest income,  from $232,000 to $103,000 for the nine months
ended December 31, 2000 compared to 2001, respectively. Also, operating expenses
increased by $53,000 to $133,000 from $80,000,  primarily  caused by the reserve


                                       14
<PAGE>


Nine months Ended December 31, 2001 Compared to Nine months Ended December 31,
2000, (continued).

for the  uncollectibility  of interest  receivable accrued during the prior year
ended March 31, 2001 of 25,000.  Along with the increase in net loss,  equity in
losses of limited partnerships decreased by $1,000 from $(204,000) to $(203,000)
for the nine months ended December 31, 2000 and 2001, respectively.

 Cash Flows

Nine months Ended  December 31, 2001 Compared to Nine months Ended  December 31,
2000.  Net decrease in cash during the nine months  ended  December 31, 2001 was
$723,000,  compared to a net increase in cash for the nine months ended December
31, 2000 of $602,000  reflecting a decrease of  $1,325,000.  The decrease in net
cash used is due  primarily  to  $(9,827,000)  decrease in net cash  provided by
financing  activities due to the completion of syndication process. The decrease
in  cash  provided  by  financing  activities  was  offset  by the  decrease  by
$8,637,000 of cash used in investing activities,  due to capital contributing to
Local  Limited  Partnerships,  and an  decrease in cash  provided  by  operating
activities by $(134,000)  to $60,000  during the nine months ended  December 31,
2001 from $194,000 for the nine months ended December 31, 2000.

The Partnership  expects its future cash flows,  together with its net available
assets at December 31, 2001, to be sufficient to meet all currently  foreseeable
future cash requirements.


Item 3: Quantitative and Qualitative Disclosures Above Market Risks

         NOT APPLICABLE


Part II.  Other Information

Item 1.  Legal Proceedings

         NONE

Item 6.  Exhibits and Reports on Form 8-K

         NONE.
                                       15
<PAGE>


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.

WNC HOUSING TAX CREDIT FUND VI, L.P., Series 7
----------------------------------------------
(Registrant)

By:   WNC & Associates, Inc., General Partner of the Registrants



By:   /s/ Wilfred N. Cooper, Jr.
       -------------------------
Wilfred N. Cooper, Jr., President - Chief Operating Officer of
                                    WNC & Associates, Inc.

Date: February 27, 2002



By:  /s/ Thomas J. Riha
     -------------------
Thomas J. Riha, Vice President - Chief Financial Officer of
                                 WNC & Associates, Inc.

Date: February 27, 2002