EXHIBIT 10.4 MODIFICATION AGREEMENT

                                                                    EXHIBIT 10.4

                             MODIFICATION AGREEMENT

This  Modification  Agreement  is being made  effective as of the date set forth
below on the signature page herein (the "Effective  Date") by and among MAP/MAC,
LLC, a Texas  limited  liability  company,  with offices at 1341 W.  Mockingbird
Lane,  Suite  1200W,  Dallas,  Texas  75247  (hereinafter  referred  to  as  the
"Company"), Mortgage Assistance Corporation, a Texas corporation with offices at
1341 W. Mockingbird Lane, Suite 1200W, Dallas, Texas 75247 (hereinafter referred
to as "MAC"),  and Mortgage  Acquisition  Partners,  L.L.C.,  a Missouri limited
liability company (hereinafter referred to as "MAP").

WHEREAS, MAP and MAC are equal members of the Company; and

WHEREAS, MAC is the manager of the Company; and

WHEREAS, the CompanFy is in the business of acquiring portfolios of distressed
real estate loans at discounted purchase prices; and

WHEREAS,  MAC services the Company's assets pursuant to the Servicing Agreement;
and

WHEREAS,  certain  items,  matters and disputes  regarding  the  management  and
operation  of the  Company,  and  services  provided  pursuant to the  Servicing
Agreement,  by MAC have been mutually  discussed and negotiated in good faith by
all the parties to this Modification Agreement; and

WHEREAS,  the parties  desire to resolve such items,  matters and disputes in an
amicable  manner by  modifying  the  agreements  that  control the  business and
contractual relationships amongst all the parties as set forth herein; and

WHEREAS,  the  Company has  borrowed  money from MAP  pursuant  to that  certain
executed  promissory  note in the amount of $566,000.00  dated June 6, 2006 (the
"6/6/06  Note"),  that  certain  executed  promissory  note  in  the  amount  of
$550,000.00  dated September 8, 2006 (the "9/8/06 Note") and the Subsequent Note
(as defined below) with an aggregate  balance due of $1,220,135.66  (hereinafter
collectively  referred to as the "Notes")  (with such Notes being secured by the
Company's obligation to transfer all of its right, title, and interest in and to
the Initial  Loan  Portfolio as set forth in Section 5.6 of the  Regulations  of
MAP/MAC, LLC (the "Regulations"); and

WHEREAS,  for the sake of  convenience,  the parties agree that the  capitalized
terms used but not otherwise  defined herein shall have the meanings ascribed to
them in the Regulations; and

NOW THEREFORE, in consideration of the mutual covenants and agreements contained
herein  and  for  other  good  and  valuable  consideration,   the  receipt  and



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sufficiency  of which is hereby  acknowledged  and agreed to, the parties hereto
agree on the terms and conditions as follows:

1.   The  parties  hereby  ratify and  confirm  all of the terms and  conditions
     contained in the Notes except as otherwise  set forth in this  Modification
     Agreement.

2.   MAP hereby  represents  that it is the current holder of the Notes and that
     no demand for payment on the Notes has been made by MAP upon the Company as
     of the Effective Date.

3.   The Company and MAC  represent and warrant to MAP that, as of the Effective
     Date,  assets  of the  Initial  Loan  Portfolio  and  all  Additional  Loan
     Portfolios  consist of the loans set forth on "Exhibit  A" attached  hereto
     and  incorporated  herein for all purposes  (the "Loan  Portfolios"),  each
     asset included in the Loan  Portfolios is titled in the Company's name, and
     the Company has good and marketable title to those assets free and clear of
     any and all liens.

4.   As of the Effective  Date, the Company does not owe any money to MAC or any
     of its affiliates for any fee, commission or reimbursement.

5.   The  parties  acknowledge  and  agree  that (i) MAP has  previously  loaned
     $104,135.66 to the Company,  (ii) the terms for such loan have always been,
     and continue to be,  those terms  included on the form of  Promissory  Note
     attached  to the  Regulations  as Exhibit B to the  Regulations;  provided,
     $104,135.66,  rather  than the  amount  stated on such  form,  shall be the
     principal  balance,  and (iii) a  promissory  note  with  those  terms,  as
     modified  below,  shall be deemed  executed by the Company and delivered to
     MAP by  virtue  of this  Agreement  as of the  date of  such  advance  (the
     "Subsequent Note").

6.   The  parties  agree  that  the  aggregate  balance  of the  6/6/06  Note is
     $566,000,  the aggregate  balance of the 9/8/06 Note is $550,000.00 and the
     aggregate balance of the Subsequent Note is $104,135.66.  Payments shall be
     applied to oldest loan first.

7.   The phrase "in lawful money of the United  States no later than thirty (30)
     days after written demand by Payee" in the first  paragraph of each Note is
     hereby  amended by deleting  said phrase in its entirety and by inserting a
     new phrase in lieu thereof,  which shall read as follows:  "in lawful money
     of the United States no later than October 1, 2008."

8.   The  second  paragraph  of each  Note,  beginning  with the  words "If this
     Promissory  Note or any  portion  thereof is not paid" and ending  with the
     words "shall not constitute a waiver of the right to exercise it later", is
     hereby  amended by deleting said paragraph in its entirety and by inserting
     a new paragraph in lieu thereof, which shall read as follows:

          If this Promissory Note or any portion thereof is not paid as and
          when the same becomes due,  whether by acceleration or otherwise,



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          the Maker agrees to pay interest  thereon at the Rate (as defined
          below) until the same is paid and, in addition thereto, the Maker
          agrees to pay all costs of collection and enforcement,  including
          but not limited to  reasonable  attorneys  fees and court  costs,
          incurred  by the holder of this  Promissory  Note  whether or not
          suit is filed. Failure at times to exercise such option shall not
          constitute  a waiver of the right to  exercise  it later.  "Rate"
          means  eighteen  (18%) per annum  compounded on a monthly  basis;
          provided,  however,  the Rate shall not exceed the maximum amount
          of  non-usurious  interest  that may be  contracted  for,  taken,
          reserved,  charged  or  received  under law and any  interest  in
          excess of said maximum  shall be credited to the principal of the
          debt or, if that has been paid, refunded.

9.   MAP  understands  and agrees  that this  Modification  Agreement  is hereby
     incorporated into each of the Notes for all purposes, and said Modification
     Agreement shall be controlling in the event of a conflict with the language
     or terms of the Notes.

10.  MAC hereby  absolutely  and  unconditionally  guarantees  full and punctual
     payment no later than  October 1, 2008 of all  obligations  of the  Company
     owing to MAP pursuant to the Notes,  now existing or hereafter  arising and
     howsoever evidenced or acquired (all such obligations and liabilities being
     collectively  referred to as the "Liabilities"),  together with any and all
     Costs (as defined below). If MAP employs counsel (i) to represent it in any
     litigation,  contest, dispute, suit or proceeding relating to this Guaranty
     or any of the  Liabilities  after October 1, 2008; or (ii) to enforce MAC's
     obligations to MAP, then, all reasonable attorneys' fees plus all expenses,
     costs and charges  arising in  connection  therewith  or  relating  thereto
     (collectively,  the  "Costs")  shall be paid by MAC to MAP,  whether or not
     suit is filed or arbitration is initiated within 30 calendar days after MAC
     receives a written statement of said Costs.

     Prior to receipt of, or as a condition to,  payment or  performance  by MAC
     hereunder,  MAP shall not be required to  prosecute  collection  or seek to
     enforce or resort to any  remedies  against  the  Company or  exercise  any
     diligence  whatsoever  in  collecting  or  attempting to collect any of the
     Liabilities  by any  means.  To the  extent  not  prohibited  by  law,  MAC
     unconditionally waives (i) presentment, notice of dishonor, protest, demand
     for  payment