Some schemes have many defaulting mortgages, while others have only a few or none at all. If you are not sure, contact the manager. The borrower may succeed in raising the money to pay you. However, if the borrower cannot pay, and if the mortgaged land cannot be sold for what you are owed, then you face a loss. It all depends on the rules of your mortgage scheme.
Some investors can use their full legal rights as mortgagees and sell the mortgaged property.
Other investors may have signed over these rights to the scheme managers, and will have to wait until the scheme is wound up. If you do not know where you stand, get legal advice from a different solicitor in a different firm from the one who is managing your mortgage. A solicitor who is independent of your mortgage scheme may be best placed to advise you. ASIC will be reviewing these schemes and wants them to wind up in an orderly way so that investors will get the best deal. While further delay in closing schemes can make losses worse, we will consider doing that, if it is truly in the best interests of investors.