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.
Under the national mortgage settlement, in certain circumstances if a servicer denies a loan modification application for a first mortgage, it must provide borrowers with the right to appeal. The borrower must appeal within 30 days from the date of the denial letter.