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.
Yes. The CD may be revised without a new waiting period for any valid changed circumstance other than those that require an additional CD 3 Day Waiting Period, see above. This material is intended for mortgage professionals only and should not be shared with consumers or other third parties.