A "charge mortgage" refers to a loan that is secured by a legal claim on a property. It means that the lender has the right to take ownership of the property if the borrower fails to repay the loan as agreed.
Sentences with «charge mortgage»
Other lenders may not automatically accept your collateral charge mortgage if you want to transfer at the end of your term. (bridgewaterbank.ca)
This loan is no - money - down, too, but it does charge mortgage insurance (although at a lower cost than comparable conventional loans). (themortgagereports.com)
But you can not charge mortgage payments or car payments. (creditcards.com)