UNITED STATES
                              
             SECURITIES AND EXCHANGE COMMISSION
                              
                  Washington, D. C. 20549
                              
                          FORM 8-K
                              
                       CURRENT REPORT
                              
                              
PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE 
                        ACT OF 1934
                              
Date of Report (Date of earliest event reported)      March 19, 1996     

                         (March 12, 1996)                                

Commission File Number                        0-18550                     

                           NTS Mortgage Income Fund                       
           (Exact name of registrant as specified in its charter)

         Delaware                           61-1146077            
(State or other jurisdiction of   (I.R.S. Employer Identification 
incorporation or organization)    No.)

   10172 Linn Station Road
   Louisville, Kentucky                         40223             
(Address of principal executive              (Zip Code)
offices)

Registrant's telephone number, 
including area code                         (502) 426-4800        

                              Not Applicable                              
           Former name, former address and former fiscal year,
                       if changed since last report

<PAGE>
Item 5.  Other Items

         On March 12, 1996 the Board of Directors of the NTS Mortgage Income
         Fund (the "Fund") increased the number of directors on the  Fund's
         Board of Directors from three to five.  Pursuant to the terms of
         the Fund's By-Laws, vacancies among the Independent Directors shall
         be filled for the unexpired term by the remaining Independent
         Directors.  Likewise, vacancies among the Affiliated Directors
         shall be filled for the unexpired term by the remaining Affiliated
         Directors.  The independent members of the Fund's Board of
         Directors have appointed Mr. Gerald B. Thomas, and the Affiliated
         Director has appointed Mr. Richard L. Good, to fill the vacancies
         created as a result of the increase in the number of directors. 
         Mr. Thomas, age 57, is currently Vice President, Commercial Real
         Estate Loans for Citizens Bank of Kentucky.  Mr. Good, age 56, is
         currently President and Chief Operating Officer of NTS Corporation,
         the Fund's Sponsor, as well as President of the Fund. Messrs.
         Thomas and Good will serve as members of the Board of Directors
         until the next annual meeting of shareholders and until they or
         their successors are duly elected and qualified.
<PAGE>
                         SIGNATURES

Pursuant to the requirements of the Securities exchange Act of 1934, NTS
Mortgage Income Fund has duly caused this report to be signed on its behalf
by the undersigned, hereunto duly authorized.

NTS MORTGAGE INCOME FUND


/s/ John W. Hampton                          Date:  March 19, 1996
John W. Hampton
Secretary/Treasurer of the 
NTS Mortgage Income Fund
<PAGE>
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UNITED STATES
                              
             SECURITIES AND EXCHANGE COMMISSION
                              
                  Washington, D. C. 20549
                              
                          FORM 8-K
                              
                       CURRENT REPORT
                              
                              
PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE 
                        ACT OF 1934
                              
Date of Report (Date of earliest event reported)      March 19, 1996     

                         (March 12, 1996)                                

Commission File Number                        0-18550                     

                           NTS Mortgage Income Fund                       
           (Exact name of registrant as specified in its charter)

         Delaware                           61-1146077            
(State or other jurisdiction of   (I.R.S. Employer Identification 
incorporation or organization)    No.)

   10172 Linn Station Road
   Louisville, Kentucky                         40223             
(Address of principal executive              (Zip Code)
offices)

Registrant's telephone number, 
including area code                         (502) 426-4800        

                              Not Applicable                              
           Former name, former address and former fiscal year,
                       if changed since last report
Item 5.  Other Items

         On March 12, 1996 the Board of Directors of the NTS Mortgage Income
         Fund (the "Fund") increased the number of directors on the  Fund's
         Board of Directors from three to five.  Pursuant to the terms of
         the Fund's By-Laws, vacancies among the Independent Directors shall
         be filled for the unexpired term by the remaining Independent
         Directors.  Likewise, vacancies among the Affiliated Directors
         shall be filled for the unexpired term by the remaining Affiliated
         Directors.  The independent members of the Fund's Board of
         Directors have appointed Mr. Gerald B. Thomas, and the Affiliated
         Director has appointed Mr. Richard L. Good, to fill the vacancies
         created as a result of the increase in the number of directors. 
         Mr. Thomas, age 57, is currently Vice President, Commercial Real
         Estate Loans for Citizens Bank of Kentucky.  Mr. Good, age 56, is
         currently President and Chief Operating Officer of NTS Corporation,
         the Fund's Sponsor, as well as President of the Fund. Messrs.
         Thomas and Good will serve as members of the Board of Directors
         until the next annual meeting of shareholders and until they or
         their successors are duly elected and qualified.
SIGNATURES

Pursuant to the requirements of the Securities exchange Act of 1934, NTS
Mortgage Income Fund has duly caused this report to be signed on its behalf
by the undersigned, hereunto duly authorized.

NTS MORTGAGE INCOME FUND

/s/ John W. Hampton                          Date:  March 19, 1996
John W. Hampton
Secretary/Treasurer of the 
NTS Mortgage Income Fund