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 you Google â Waiting Period to qualify for conventional loan after short sale or deed in lieu of foreclosureâ, you will get dozens and dozens of articles the first few pages that highlights that there is a 2 year waiting period to qualify for a conventional loan with 20% down payment.