So far the loans we've negotiated throughout partnership have been second mortgages, partly because that happened to be the most advantageous way to do it for those co-ops. They were quite close to the end of their operating agreement. You wouldn't want to bundle up what's left when most of what you're paying on that mortgage is principal and not interest. So it made sense.
We have a number of other co-ops where we know quite clearly that a second mortgage would make...covering the payments would make the housing charges completely unaffordable. They would have to be higher than the local market rates, which is a good way to empty your building, right? There are a couple where we know it would work much better if we could blend and extend, but it would be really good to come to some resolution on these penalties to avoid low- and moderate-income Canadians making a $200,000 donation to CMHC.