Definition of alleviate for English Language Learners. : to reduce the pain or trouble of (something) : to make (something) less painful, difficult, or severe.
A mortgage commitment letter can take up to 4 weeks after an appraisal is complete so it is very important to set an appraisal date. Also note that in this market appraisals do not always come in at or above your accepted offer and an appraisal lower than accepted offer will lead to a renegotiation or change of terms. mortgage commitment letter can take up to 4 weeks after an appraisal is complete so it is very important to set an appraisal date. Also note that in this market appraisals do not always come in at or above your accepted offer and an appraisal lower than accepted offer will lead to a renegotiation or change of terms.
For instance, the contingency might give the buyer 20 days to obtain a mortgage commitment for a 30-year fixed rate loan at or below 5 percent with no points. The buyer has the option of terminating the contract if he can't get a loan within those parameters.