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.
Most experience modification factor calculations use data from three prior policy years, but sometimes mods can be calculated using fewer policy periods. The usual âwindowâ used for the payroll and loss data goes back four years for the first policy year, and also encompasses the next two policy years.