Bank of America Borrower Protection Plan A SCAM do not fall for it! They will collect your cash but find and any every reason not to help you! Internet

Bank of America automatically signed me up for their "free the first year" Borrower Protection Plan when I bought a house a year ago via their mortgage program. They sent me a notice the plan was expiring, which was when I realized I had the protection, and asked me to start paying $77.50 a month for this "protection plan". I called and told them that I lost my job in May 09; the company went out of business. They sent me a claim package. I filled it out. I could not track down anyone who worked there to sign their "form" for the employer. I did provide them with plenty of proof I was on unemployment.

Nothing happened. No one at their office could help in a meaningful way, and no one would let me talk to a manager. But they did rapidly send me a new payment book for the next year of my mortgage payments adding their plan which added $77.50 a month to my mortgage. This was after I told them I lost my job, and they still had NOT offered to help me! Nice!

Since no one was helpful and I was getting very aggravated, I called the "Office of the CEO". I was assigned a "helper" and gave him all the info. He said he would call his contact at Borrower Protection Plan and call me back the next day. A week passed. I called again and was told he was reassigned. Got another "helper". He said he would call me right back. Days passed. I called again. He said he would call me back after I sent him a giant fax with my unemployment documentation. He did not, I kept calling trying to get help, etc.

Finally I called the Borrower Protection Plan Office again for a copy of their "addendum" which outlines terms and conditions. Turns out they do not cover 1099 employees. All the time I wasted calling and calling and no one could bother to tell me that! With my original package showing proof of unemployment I enclosed a letter stating I was a 1099 employee! I qualified for their loan with that status but no help when the company who pays me goes out of business? What a rip off scam! Its amazing how fast they sent me the payment book with the new price, knowing I had no job and that I was indeed a 1099 employee!

How thoughtless, rude, and uncaring can you be? And what a rip off to not have that secret addendum (disclosing their crappy terms) information readily available-their addendum, is NOT posted on the website, you cannot get it by email, you have to WAIT until they snail mail it to you, the sneaky way to tell you the bad news!

Bottom line: NO HELP, but they are all over trying to sell you this piece of crap program!