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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (186113)	2/23/2009 9:59:12 PM
From: John Koligman	Respond to of 306849

Toll Brothers is 'doing a Hyundai'... Regards, John Toll Brothers program covers mortgage for new buyers who lose jobs Philadelphia Business Journal High-end homebuilder Toll Brothers Inc. is offering a mortgage protection plan that will cover a buyer’s mortgage for up to six months if there is a job loss, the company said. Under the program, Toll (NYSE:TOL) buys involuntary unemployment insurance on behalf of buyers who use Toll’s financing subsidiary to close and fund their home loan. The plan will cover up to six months of mortgage payments, including principle, interest, real estate taxes and homeowner insurance — up to $2,500 per month — if the borrower incurs a job loss within 24 months of closing on the home. There are other requirements, such as buyers can’t have knowledge of a pending job loss at the date of settlement. South Korean automaker Hyundai has been advertising a program that allows customers to return cars within a year of a lease or purchase if they lose their jobs. The move is part of struggling Horsham, Pa.-based Toll's efforts to boost sales. Earlier this year it began offering home buyers a fixed mortgage rate of 3.99 percent.