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. [more]