Item 1. Business.
Omitted.
Item 2.
Item 2. Properties.
Not applicable.
Item 3.
Item 3. Legal Proceedings.
The registrant knows of no material pending legal proceedings involving the Issuer created under the Amended and Restated Trust Agreement, the Indenture Trustee, the Servicer or the registrant with respect to the Trusts other than routine litigation incidental to the duties of the respective parties.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.
None.
PART II
Item 5.
Item 5. Market for registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Records provided to the Issuer by the DTC and the Trustee indicate that as of December 31, 2004, the number of holders of record for each class of Notes were as follows:
Class A 1 Class M-1 1 Class M-2 1 Class B 1
Total: 4
Item 6.
Item 6. Selected Financial Data.
Omitted.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation.
Omitted.
Item 7A.
Item 7A. Quantitative and Qualitative Disclosures about Market Risk.
Not applicable.
Item 8.
Item 8. Financial Statements and Supplementary Data.
Omitted.
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
Item 9A.
Item 9A. Controls and Procedures.
Not applicable.
Item 9B.
Item 9B. Other Information.
	 None.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Not applicable.
Item 11.
Item 11. Executive Compensation.
Not applicable.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
Not applicable.
Item 13.
Item 13. Certain Relationships and Related Transactions.
Not applicable.
Item 14.
Item 14. Principal Accounting Fees and Services.
Not applicable.
PART IV
Item 15.
Item 15. Exhibits, Financial Statement Schedules.
(a) Exhibits
(99.1) Annual Independent Accountants' Servicing Reports concerning servicing activities for the year ended December 31, 2004
(99.2) Annual Statements of Compliance under the Servicing 	 Agreement for the year ended December 31, 2004.
(99.3) Aggregate Statement of Principal and Interest Distributions to 	 Noteholders.
(b) The exhibits required to be filed by the Registrant pursuant to Item 601 of Regulation S-K are listed above and in the Exhibit Index that immediately follows the signature page hereof.
(c) Not applicable.
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:
Mid-State Capital Corporation 2004-1 Trust (Registrant)
Signed: Mid-State Capital Corporation, as depositor
By: Kimberly Perez
By: /s/ Kimberly Perez
Title: Chief Financial Officer
Dated: March 29, 2005
SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.
(a)(i) No annual report is provided to the Noteholders other than with respect to aggregate principal and interest distributions.
(a)(ii) No proxy statement, form of proxy or other proxy soliciting material has been sent to any Noteholder with respect to any annual or other meeting of Noteholders.
Exhibit Index
Exhibit No.
(31.1)	Rule 13a-14(a)/ 15d-14 (a) Certification
(99.1) 	Annual Independent Accountants' Servicing Reports 		concerning servicing activities for the year ended 		December 31, 2004.
(99.2)	Annual Statements of Compliance under the Servicing 		Agreement for the year ended December 31, 2004.
(99.3)	Aggregate Statement of Principal and Interest 		Distributions to Noteholders.
							Exhibit 31.1
				CERTIFICATION
		 MID-STATE CAPITAL CORPORATION 2004-1 Trust
I ,Kimberly Perez, the Chief Financial Officer of Mid-State Capital Corporation, certify that:
l. I have reviewed this annual report on Form 10-K, and all reports on Form 8-K containing distribution or servicing reports filed in respect of periods included in the year covered by this annual report, of Mid-State Capital Corporation, 2004-1 Trust.
2. Based on my knowledge, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by this annual report;
3. Based on my knowledge, the distribution or servicing information required to be provided to the trustee by the servicer under the servicing agreement for inclusion in these reports is included in these reports;
4. Based on my knowledge and upon the annual compliance statement included in the report and required to be delivered to the indenture trustee in accordance with the terms of the servicing agreement and based upon the review required under the servicing agreement, and except as disclosed in the reports, the servicer has fulfilled its obligations under the servicing agreement; and
5. The reports disclose all significant deficiencies relating to the servicer's compliance with the minimum servicing standards based upon the report provided by an independent public accountant, after conducting a review in compliance with the Uniform Single Attestation Program for Mortgage Bankers or similar standard, as set forth in the servicing agreement, that is included in these reports.
In giving the certifications above, I have reasonably relied on information provided to me by The Bank of New York.
By: /s/ Kimberly Perez
Name: Kimberly Perez
Title: Chief Financial Officer
Dated: March 29, 2005
Ex-99.1
Report of Independent Registered Certified Public Accounting Firm
To the Board of Directors:
We have examined management's assertion about Mid State Homes, Inc. ("the Company") compliance with the minimum servicing standards identified in the Mortgage Bankers Association of the America's Uniform Single Attestation Program for Mortgage Bankers ("USAP") as of and for the year ended December 31, 2004 included in the accompanying management assertion (see Exhibit 1). Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination.
Our examination was made in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards.
In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2004 is fairly stated, in all material respects.
/s/ PricewaterhouseCoopers LLP February 28, 2005 Tampa, Florida
								Exhibit 1
MSH
Mid State Homes Inc. 4211 W. Boy Scout Blvd. Tampa FL 33607
		Managements Assertion Concerning Compliance 	 	 with USAP Minimum Servicing Standards
As of and for the year ended December 31, 2004, Mid State Homes, Inc. ("the Company"), a wholly owned subsidiary of Walter Industries, Inc., has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP"), except for as noted below.
We believe that the following minimum servicing standards are not applicable to the Company: 	- III-5 and IV-1 related to investors who purchase mortgage 	 backed and asset backed bonds
As of and for this same period, the Company had in effect a fidelity bond and errors and omissions policy in the amounts of $25,000,000 and $5,000,000 respectively.
By:	/s/ Joseph J. Troy Name:	 Joseph J. Troy Title:	 President Dated:	 February 23, 2005
By:	/s/ Kimberly Perez Name:	 Kimberly Perez Title:	 Executive Vice President Chief Financial Officer Dated:	 February 23, 2005
Ex-99.2
				ANNUAL CERTIFICATE
Pursuant to Section 3.02 of the Servicing Agreement dated as of July 15, 2004 among Mid State Capital Corporation 2004-1 Trust, as Issuer, Mid-State Homes, Inc., as Servicer and The Bank of New York, as Indenture Trustee, the undersigned hereby certify that:
	1 	each of us has read and is familiar with the conditions 		and convenants contained in the Servicing Agreement;
	2	the statement or opinions herein contained are based upon 		examinations or investigations of the affairs and operations 		of the Servicer during the period beginning July 15, 2004 and 		ending December 31, 2004 made under the supervision of the 		undersigned in the discharge of their duties as officers 		of the Servicer;
	3	in our opinion, such examinations and investigations are 		sufficient to express an informed opinion as set forth 		in (4) below;
	4 	to the best of our knowledge the Servicer has kept, observed, 		performed and fulfilled each and every obligation contained 		in said Servicing Agreement and no Default by the Servicer 		has occurred and is continuing.
				 MID STATE HOMES, INC.
				 By:	 /s/ J.H. Kelly 				 Name: J.H. Kelly 				 Title: Senior Vice President 				 Dated: March 15, 2005
				 By:	 /s/ K.A. Perez 				 Name: K.A. Perez 				 Title: Senior Vice President 				 Dated: March 15, 2005
Ex-99.3 Schedule of Year-To-Date Principal and Interest Distributions to Noteholders