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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Luxe Home Builder Toll Will Cover Mortgages for Laid-Off Workers

Luxury home builder Toll Brothers has joined Hyundai, JetBlue and others in offering to cover the financial obligations of the growing ranks of the unemployed.

Toll said this morning that if one of its buyers loses his or her job, Toll will pay the home buyer's principal, interest, property taxes and insurance for six months IF the home buyer has financed his or her purchase through TBI Mortgage, which is owned by ... Toll Brothers.

The median price of a new Toll house is about $600,000.

Earlier this year, Hyundai said that if buyers lost their job this year, they could return their new Hyundai for no cost. Last week, JetBlue said the laid-off workers who have bought JetBlue tickets could get a refund.

Everyone's getting in on the help-to-the-laid-off game: SkyRoll, a Northern Virginia luggage maker, said last week that it will sell its products at half-price to the recently unemployed who need to travel for job interviews.

-- Frank Ahrens
The Ticker is Twittering!

By Frank Ahrens  |  February 23, 2009; 11:00 AM ET
Categories:  The Ticker  | Tags: Hyundai, JetBlue, Toll Brothers  
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