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.
Many folks wonder if there is a Waiting Period After Loan Modification: There are mandatory waiting periods after a bankruptcy. There are waiting period after foreclosure to qualify for a mortgage. There is a waiting period to qualify for a mortgage after a deed in lieu of foreclosure.