FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   CENTERLINE HOLDING CO 2. Date of Event Requiring Statement (Month/Day/Year) 07/27/2007 3. Issuer Name and Ticker or Trading Symbol AMERICAN MORTGAGE ACCEPTANCE CO [AMC] (Last) (First) (Middle) 625 MADISON AVENUE 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed(Month/Day/Year) 07/31/2007 (Street) NEW YORK, NY 10022 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Shares 925,929 (1) D Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
CENTERLINE HOLDING CO 625 MADISON AVENUE NEW YORK, NY 10022	Â	  X	Â	Â

Signatures

/s/ Robert L. Levy, Chief Financial Officer		08/06/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	This amended Form 3 is being filed to correct the reporting of Centerline Holding Company's (the ?Company?) beneficial ownership in Table 1. Due to a clerical error, the original Form 3 filed on July 31, 2007 (the ?Original Form 3?), mistakenly recorded the Company as owning 922,129 common shares instead of 925,929. These 925,929 common shares include the 635,628 common shares set forth in Table II pf the Original Form 3 that the Company will receive upon conversion of 280,000 Series A Cumulative Convertible Preferred Shares that it owns. The Series A Cumulative Convertible Preferred Shares are convertible at any time, at the holder's election, and have no expiration date.

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