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.
If it were a modification with a first mortgage, then you need to wait one year after a loan Modification and show that you have been timely for 12 months in order to qualify for a FHA Loan. Please feel free to call me or anyone in my staff. Below is my contact information. Gustan Cho NMLS 873293. The Gustan Cho Team.