An unusually prolonged or complex illness, esp. one that causes severe organ dysfunction or threatens life. Catastrophic illnesses often make exceptional demands on patients, caregivers, families, and health care resources.
However, if your current mortgage lender has discounted your current mortgage loan balance, the mandatory waiting period after loan modification is 12 months from the effective date of the loan modification with a 12 months on time payment history which is reflected on your credit report.
This BLOG On What Is The Waiting Period After Loan Modification To Qualify For FHA Loan Was Written By Gustan Cho NMLS 873293. A home loan modification is when a mortgage lender will agree to change the terms of the original mortgage loan in order to lower you monthly mortgage payment.