In an effort to bolster sales in its New York City condominiums, Toll Brothers is offering a safety net during uncertain mortgage times.

If a buyer loses his or her job, The Horsham, Pa.-based developer is offering to make mortgage payments for up to a year at all three of its New York City luxury condos—Northside, 5SL in Long Island City, Queens, and 303 East 33rd in Kips Bay, Manhattan.

To spark buyer interest, developers are introducing a number of incentives and perks to buyers. The new borrower’s protection program will be free of charge for the buyer for the first year. The annual fee for the borrower after the first year is about 3% of the monthly mortgage payment. a buyer is laid-off, gets injured or is hospitalized, the insurer will pay up to 12 monthly installments on mortgage during a 10-year period.  Check out  more details here!

—Robert Burke

The story was also found on InmanNews.com and the Curbed.com blog.