Thank you. Thank you, Mr. Speaker. Okay, question for the Minister of Housing. Can the Minister provide a list that details the value of all outstanding mortgages owed to the Housing Corporation by communities by community in the Tlicho region? Thank you.
Thank you, Member for Monfwi. Minister responsible for Northwest Territories Housing Corporation.
Thank you, Mr. Speaker. I will meet with the MLA for Monfwi to discuss those mortgages and have those conversations going forward as I know that this is quite a concern for the region as well too, but it also opens the opportunity for homeownership as well too. So we could describe and explain what those outstandings look like and if we're able to transfer those units over to the constituents of Monfwi. Thank you, Mr. Speaker.
Okay, thank you. Can the Minister explain the process that the Housing Corporation follows in order to request the Financial Management Board to write off or forgive debts owed to the Housing Corporation? What criteria is in place to allow the Housing Corporation to write off or forgive debts? Thank you.
Thank you, Mr. Speaker. We have an extensive process that we do follow when we're working with the outstanding and any debts owing to not only the Housing Corporation but the Government of the Northwest Territories where that's how these debts are considered. We do have the corporation does have legal counsel as well too with those constant, you know, communication in between the client and the corporation. If we're not successful with those conversations with the attempts, there is direction for the client to follow up with the legal counsel for the Housing Corporation to pursue either refinancing agreement payment plans or what further we can do to try to work and recover those debts owing.
But I also want to explain as well too that the mortgages that the Housing Corporation does have for these clients is that they're subsidized mortgages. So we don't look at the with the 100 percent mortgage owing, that we do have the refinancing amount, and we do have the subsidized mortgages as well too that I would like to further explain to the Member once we're meeting facetoface. Thank you, Mr. Speaker.
Thank you. Can the Minister provide a list of all the home mortgages that have been written off or forgiven in the last five years? Thank you.
Thank you, Mr. Speaker. We have approximately 17 files throughout the Northwest Territories that we have forgiven those mortgages, and it would either be attempts that we were we didn't see we didn't receive any payment, and there have been surrenders as well too to those mortgages, and some that we had to deal with with the estates of for those clients as well. Thank you, Mr. Speaker.
Thank you, Minister. Final supplementary, Member for Monfwi.
Okay, thank you. Has the Housing Corporation ever reassessed a mortgage based on market value assessment? Can the Minister commit to reassessing the value of home mortgages in the Tlicho region based on the market value assessment? Thank you.
Thank you, Mr. Speaker. We do take into consideration the market value for these homeownership units but we are a social we are a social program. So our refinancing and our mortgage rates are offered at a subsidized rent, quite similar to how we administer our public housing units as well too. And just for the Member as well, that when we are looking at our rental rates as well, that we there is a comparison and we do take into consideration that if the client can actually afford the unit, we don't want to set anybody up for failure, but we want to make sure that they're financially secured to receive and to enter into a at that time, a mortgage client that is able to afford the subsidized mortgage rent. Thank you, Mr. Speaker.
Thank you, Minister. Oral questions. Member for Monfwi.
