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.
Again, borrowers who don't pay on time in the 90 day trial period are considered a bad risk and will be denied permanent loan modification plan. Borrowers must sign a statement indicating that all information provided to qualify for loan modification are true.