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Toll Brothers mortgage protection plan ended.

Toll Brothers, developer of Williamsburg's Northside Piers project, has ended its mortgage protection plan, which promised to pay the mortgages of homeowners who lost their jobs for up to six months. "It just wasn't a dial mover," a Toll Brothers spokesperson told CNBC. Home builder Lennar, which offered a similar plan, said its plan is still in place in a few markets, but that it has been more effective in some markets than others. A Lennar spokesperson said programs that buy down the mortgage rate have been more of an incentive to buyers.
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Publication:The Real Deal
Date:Jun 11, 2009
Words:93
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