Document ID: chunk:federal_register_of_legislation:F2024C00882:schedule:1:p6
Version: federal_register_of_legislation:F2024C00882
Segment Type: schedule
Provision Reference: sch 1 (pt 6/40)
Character Range: 409112–411609

15 If my contract says I have to give a mortgage, what does this mean?
  A mortgage means that you give your credit provider certain rights over any property you mortgage. If you default under your contract, you can lose that property and you might still owe money to the credit provider.

 16 Should I get a copy of my mortgage?
  Yes. It can be part of your credit contract or, if it is a separate document, you will be given a copy of the mortgage within 14 days after your mortgage is entered into.
  However, you need not be given a copy if the credit provider has previously given you a copy of the mortgage document to keep.

 17 Is there anything that I am not allowed to do with the property I have mortgaged?
  The law says you can not assign or dispose of the property unless you have your credit provider's, or the court's, permission. You must also look after the property. Read the mortgage document as well. It will usually have other terms and conditions about what you can or can not do with the property.

 18 What can I do if I find that I can not afford my repayments and there is a mortgage over property?
  See the answers to questions 22 and 23.
  Otherwise you may—
           * if the mortgaged property is goods — give the property back to your credit provider, together with a letter saying you want the credit provider to sell the property for you;
           * sell the property, but only if your credit provider gives permission first;
OR
           * give the property to someone who may then take over the repayments, but only if your credit provider gives permission first.
  If your credit provider won't give permission, you can contact the AFCA scheme for help.
  If you have a guarantor, talk to the guarantor who may be able to help you.
  You should understand that you may owe money to your credit provider even after the mortgaged property is sold.

 19 Can my credit provider take or sell the mortgaged property?
  Yes, if you have not carried out all of your obligations under your contract.

 20 If my credit provider writes asking me where the mortgaged goods are, do I have to say where they are?
  Yes. You have 7 days after receiving your credit provider's request to tell your credit provider. If you do not have the goods you must give your credit provider all the information you have so they can be traced.

 21 When can my credit provider or its agent come into a residence to take possession of mortgaged goods?
  Your credit provider can only