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.
I am coming up on the 24th payment of my modification. My modification included a $160,000 principal reduction. It was through Bank of America. I am not sure if this makes a difference, but I am in California. I tried to refi a year ago but was told I had to wait until 2 years after the modification was complete. I was going through my paperwork trying to sort out the logistics of exactly when I can refi and when I can buy again, but I can't seem to find anything in my paperwork that says anything about 2 years or 24 months.