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 your current mortgage lender has extended the term of your mortgage loan to reduce your new mortgage payment, there is a mandatory one year waiting period and 12 months of on time mortgage payments that is reflected on the credit bureaus.