Keyword Analysis & Research: alternate vs alternative

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What does alternate option mean?

alternate settlement option. An option sometimes used by mortgage insurers to settle a claim in full in the event of an impending foreclosure. The payout includes legal costs, foreclosure fees, and expenses associated with bank repossession. The alternate settlement option fully discharges the insurer's responsibility under a policy.

What is an alternative option?

An alternate is something or someone that serves in place of another. An alternative is a second option that does not replace the first. For example, when a road undergoing maintenance is closed to traffic, you have to take an alternate route.

What does alternative mean?

alternative (ɔːlˈtɜːnətɪv) n 1. a possibility of choice, esp between two things, courses of action, etc 2. either of such choices: we took the alternative of walking. adj 3. presenting a choice, esp between two possibilities only 4. (of two things) mutually exclusive 5.

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