The Real Deal Miami

Toll Brothers mortgage protection plan ended

June 11, 2009 02:52PM

Toll Brothers 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 the plan is still in place in some 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.