UNITED STATES OF AMERICA
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549

                                    FORM 10-K/A

                                   Amendment No.1

                   Annual Report Pursuant to Section 13 or 15(d)
                      of the Securities Exchange Act of 1934

                             For the fiscal year ended
                                 December 31, 2004

                        Commission file number: 333-116432-01

                                Lehman ABS Corp.
               (Exact name of Registrant as specified in its Charter)

                Delaware                                     13-3447441
           (State or other jurisdiction                  (I.R.S. Employer
           incorporation or organization)              Identification Number)

          745 Seventh Avenue, 7th Floor
          New York, NY                                   10019
         (Address of principal executive offices)      (Zip Code)

            Registrant's telephone number, including area code:
                               (212) 526-7000

                     IndyMac Home Equity Loan Trust 2004-2
              (Title of each class of securities covered by this form)

          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 the Registrant's knowledge, in definitive proxy
     or information statements incorporated by reference in Part III of the
     Form 10-K or any amendment to this Form 10-K.         [x]

     Indicate by check mark whether the registrant is an accelerated filer
     (as defined in Rule 12b-2 of the Act).  Yes   No [x]

     State the aggregate market value of the voting and non-voting common
     equity held by non-affiliates computed by reference to the price at
     which the common equity was last sold, or the average bid and asked
     price of such common equity, as of the of the last business day of
     the registrant's most recently completed second fiscal quarter
     NOT APPLICABLE.

     Exhibits 99.2 and 99.3 of the Registrant's Annual Report on Form 10-K
     for the fiscal year ended December 31, 2004, originally filed March
     31, 2005, did not relate to the servicing of home equity line of credit
     loans.  The correct versions of Exhibits 99.2 and 99.3 are attached to
     this Amendment No.1.


     ITEM 15. Exhibits, Financial Statement Schedules.

     (a) List the following documents filed as a part of the report:

         (1) All financial statements:

             Exhibit 31   Section 302 Certification

             Exhibit 99.2 Servicer's Report of Independent Registered
             Public Accounting Firm for Year End December 31, 2004

             Exhibit 99.3 Servicer's Annual Report of Management for
             Year End December 31, 2004

          (2) Not Applicable

         (3) Not Applicable

     (b) Not Applicable

     (c) Not Applicable


                                     SIGNATURE

          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.


                                   By: Lehman ABS Corp.
                                      By: /s/:Joseph J. Kelly
                                             Joseph J. Kelly
                                             Senior Vice President

     Date: April 1, 2005

     EXHIBIT INDEX

     Exhibit Document

      31   Section 302 Certification

      99.2 Servicer's Report of Independent Registered Public Accounting
           Firm for Year End December 31, 2004

      99.3 Servicer's Annual Report of Management for Year End December 31, 2004