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Be Careful Refinancing through USAA

USAA offers mortgage refinance rates which are very competitive... on the surface. As part of the loan application process, they ask you to call them to begin the process. I did so and was told that there would be NO closing or other costs associated with the Re-Fi application process. Like an ***, I agreed to fork over $350 (non-refundable) to "lock in" my rates and begin the paperwork necessary to receive the refinance loan. USAA called me a few days after an appraiser looked at my property and advised me that they needed to charge me a $65 per month fee for "mortgage insurance". At no time was this EVER mentioned during the initial phone call. No other costs my ***!! To me, this was a convenient way to tack on almost $12,000 to the loan over the life of the 15 year Re-Fi. When I balked at paying the additional fee, the loan officer stated she would have to deny my loan and cancel my loan application. There went my $350 -- hard lesson to swallow! In retrospect though, I firmly believe that USAA would NOT have stopped with just the $65 per month fee. I wonder what other hidden/unstated fees USAA would have tried to tack on if I had agreed to the the mortgage insurance? If you deal with USAA for a Re-Fi, be extremely careful and get everything in writing BEFORE you sign over ANY money to them!! I used to talk highly about USAA. Not any more. USAA should stick to car insurance -- they SUCK at mortgages!
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Review
#373826 Review #373826 is a subjective opinion of poster.
Service
Usaa Refinance
Loss
$350
My complaint is about USAA a company I used to love but that seems to be wasting my money lately. I hope USAA will fix this problem but I wish I knew who to talk to. I witness the waste every morning when a senior manager named Burks eats breakfast at my expense. He...
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11 comments
Anonymous
#630531

I would say that this is "None Of Your Business".If you and Your husband does not have a lot of "MONEY",Whose faulty is that?You cannot place "Blame on Management.Every large company has a "Business Credit Card" Where have you been under a "Rock".People like yourself is alway's trying to find "Fault".Think about this.If this person did not come into this business to eat and Other's like him,You probably would not have a "Job to earn the "Small amount of Money that you EARN."USAA DOES NOT HAVE TO WATCH THEIR BIG WHIGS,THEY HAVE YOU.***.

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Review
#389346 Review #389346 is a subjective opinion of poster.
Product
Usaa Credit Card
Loss
$10000
Tags
  • Bill Clinton

Fire took my home 12 months ago, USAA has not payed!

Update by user Jan 03, 2012

USAA left me homeless, freezing, starving, and with no where to turn!

Original review posted by user Jan 03, 2012

USAA is a horrible company. A man broke into a vacant apartment in my building and set it on fire. It took my home and everything in it. I have loyally payed on time for ten years to maintain a $23,000 renter's insurance policy. My adjuster and USAA's "contracted" vendors have done everything in their power to screw me over. Watching your house burn to the ground is horrible in itself. USAA has treated me with no compassion, care, loyalty, or concern. They have lied to me, cheated me, and made it impossible to recover from this terrible tragedy. I have been homeless for a year due to their inability to pay what I am entitled to. I do not wish this on anyone. Do not use USAA services in any capacity. You will regret it.
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4 comments
Anonymous
#419294

I have had a fire and I find USAA very difficult to deal with in general. The adjuster is abrasive and tries to bully. USAA is overrated !

Anonymous
#409960

Wow. I had complete opposite.

We lost our home in the September wildfires and had money within three days.

We did not have to itemize what we lost and the coverage was great. I love USAA.

anonymous711
#402345

Has your house burned down? If not, you have no way to measure whether or not if their service is top-notch. I thought the same until this happened.

Anonymous
#402329

Strange, I and millions of others have found USAA to be top-notch in every way. What is going on?

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Review
#286061 Review #286061 is a subjective opinion of poster.
I have been with usaa for a few years. I served in the air force. I can use my card anywhere in the U.S. without question, but when i make a payment no matter how large or small they put my card on hold to "verify" funds. It shouldn't take 7-10 days to determine if...
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Review
#295424 Review #295424 is a subjective opinion of poster.
Product
Usaa Account
Loss
$500

USAA Representatives Lie and Don't Keep Records of Transactions

I'm currently very disappointed with USAA. I never had a problem with them until this year but, the situation was enough to really anger me. I recently closed out a checking account to create a new one because I felt like my information from my last checking account had been compromised. Naturally, in the process I switched all of my automatic bill payments over to my new checking account. USAA kept turning my autopayments off and charged me late fees and then when I confronted a manager about the situation, all they could tell me was that they keept turning my automatic payments off and had no records in their memo's that I had attempted to fix the situation with them. I think they were trying to make a quick buck off of me. Details are below: This is when all of the problems started: I closed my original checking account on the 28th of October and switched over my automatic bill pay information so that all of my bill money would be drafted out of my new checking account. The representative I spoke with that day told me that everything was fine and my bank drafts were correctly set up. After noticing nothing had been drafted, I called them on the 6th of November. They had told me that my automatic payments had been canceled for whatever reason so I paid the late fees and restarted the automatic payments on the 7th of November. Guess what?!? I called, USAA on the 28th of November demanding to know why again I had noticed that my account had not been drafted for my bills. The representative that I spoke with that day, Jim, assured me that everything was set up, but the deduction just hadn't "reflected yet". I called them on the 3rd of December, again to ask them why my account was still not being drafted, just to get the run around. Once again they told me that my bank draft had been canceled. I was pretty ticked off so I spoke with a manager named Tricia, who told me some lame excuse as to why they couldn't give me back the late fees for not having my bank account drafted. Even worse, they could prove that I had been calling them, but because the representatives never did their jobs and typed out memos of what was actually being discussed during our conversations the manager couldn't prove that I was attempting to do the right thing and pay my bills. Fair warning: DO NOT trust them with automatic payments or documenting important information on your account. Apparently, if you want to sleep well at night, you have to do their jobs behind them. In this case, what am I paying them for right? I'm currently looking to take my business elsewhere. Once I do find a new company, I'll be promptly shifting all of my accounts and investments because when it comes to finances, the last thing you want are mediocre, greedy, unhelpful people behind a desk, who don't keep track of their transactions and memorandums handling your accounts for you. -El
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1 comment
David T
#492629

USAA is a bank "YOU CANNOT TRUST"

Review
#279188 Review #279188 is a subjective opinion of poster.
Product
Usaa Checking Account

USAA Failure

We've been with USAA (military vet) for over 30 years. My parents were also USAA members for decades before I joined. USAA was the mutual company whom we trusted would understand and meet our needs. We have had past property claims over 3 decades and were treated with respect. USAA is not the company we once knew ... and has adopted a strategy of wearing down claimants so that they will accept less. Financial pressure is compelling them to cut claims payments ... and do everything possible to add members. They will be losing our business ... and that of my extended family. If you have a rogue claims adjuster, get to a boss first ... then if not resolved quickly, escalate to the state Insurance Commission or one of the USAA generals. If you're in TX, you're in luck. TX Insurance Commission does NOT like USAA and would love to hear your complaint. If they offer anything, ask for documentation. If they do not provide documentation, reply through usaa.com with a summary of the phone call to enter documentation into the file. USAA waited 11 months to respond to our property claim (after it was assigned a number). Eleven months ... in spite of our weekly phone calls and letters. At least, we've kept our case documented (sending messages through their website)... so if it gets escalated (which we may do) we will have all documentation. Restoration professionals sent by USAA are equally frustrated and baffled by USAA's delays, forgetfulness, and arbitrary challenges. Looking for a reliable insurer... and angry that my longtime insurer has gone rogue...
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4 comments
Anonymous
#506047

I have had USAA -homke, caras, and rentals for 55 years. My five kids have each had it for about 20-30 years and two ex wives have each had it for 29 years and 19 years.

Hundreds of my military friends have had it for many decades. Never had I heard of an unfair settlement. I have had many as have my family (nine among my extended family in past three years - all quickly and settled at more than fair amounts (one even cover vfor mokld remediation when not really covered by policy!

This complainer obviously does not know the terms of his policy. What is and is not covered is clearly stated.

Anonymous
#479221

I have to concur, not at all impressed with the ways of USAA. My car was hit by one of their insured, it was parked in a lot and this lady drove her SUV 1/3rd of the way up my car before finally stopping. I think she was "tweeting" or otherwise playing with her phone. She got out and admitted her culpability, but after I drove to get estimates she hid out and I had to contact USAA to deal with it. She hid from them for a month before finally concocting a ridiculous story where my parked car somehow hit her, and because it was "different" from the truth USAA claimed no liability.... 3 months after I first contacted them.

2 years later she finally admits her fraud and USAA offers to pay the damage with 2010 estimates, I finally said "OK." they sent me a check with a letter opposite what I was told on the phone, but I cashed it to get this behind me. 2 weeks later their check was returned and deducted from my financial institution.

After reading the stories above perhaps this is par for the course, but I guess I'm an eternal optimist and try seeing all these things as honest mistakes. But on advice above perhaps a report to my state's insurance commissioner would be a good thing for the community. I have heard that the "bad faith" restrictions were removed from insurance companies, maybe they should be restored as this Kafkaesque experience is worse than insurance fraud.

Anonymous
#384514

Yes, it sucks big time that USAA has gone over to the "dark side". And they are now contracting with a company named Marshall Swift Boeckh that sends home revaluation forms (designed by USAA) to USAA CIC homeowner policy holders. They send multiple dunning letters trying to get you to fill in and return the form (even if the information on it is precisely the same as what you have provided USAA each year) and then call you at all hours of the day and evening to get you to return the form or give them your info over the phone. It's just a pretext to either devalue your home (and save themselves big bucks in the event it must be repaired or replaced) or to up your insurance rates. I just phoned the contracting agency AND USAA back to tell them what I thought of this new, underhanded tactic which can only have been designed to enable them to somehow scadge a bigger profit from all of us "ex-military-service" middle class people who they want to squeeze for more profits to pay for their fancy (and false) TV ad campaign. Sorry boys . . . we're middle class Americans and, hadn't you heard, we've already been milked dry!

I've been with USAA since 1968 and, until the past 10 years, they were the best insurance company around. Their auto insurance is still good, although its customer service interface is slipping badly.

Unfortunately, their homeowner's insurance arm, which was also once a reliable agency, is now heavily into scamming by recommending low-balling, poor quality reconstruction companies like Cary Reconstruction Company out of Apex, NC, who nearly destroyed my home when they made shoddy, not to code repairs to major roof, ceiling beams, chimney, dry wall, and floor repairs to it following an ice storm in 2002. The ceiling "repairs" were so poorly done and potentially dangerous that we had to have a construction engineer come in to evaluate them. He ordered the subcontractors (mostly illegal aliens who were poorly trained, poorly paid and barely spoke English) to tear out the ceiling sheetrock so he could see why the decorative beam they were trying to nail over it was teeter-tottering on a low point. Turned out that a ceiling joist/beam had been pushed down approximately 2-3 inches by the top third of a mature pine tree AND a 150 pound concrete chimney cap that had fallen on the roof. Cary Reconstruction's carpentry sub, who'd made structural "repairs" to the roof and ceiling beams, hadn't bothered to jack up the beam and reattach it by joist hanger to the side wall support point. Instead he just planed off the bottom of the beam so it would be even with those beside it and be able to have sheetrock nailed flat across it ! Fortunately for me, he didn't plane off enough of that beam. As a result, it formed a low point, causing the sheetrockers to be unable to nail the decorative beam running perpendicular to it in place! When the ceiling panels were removed to reveal this not-to-code and dangerous "repair", we also found they'd crammed R-33 thick, wall insulation between the beams in the entire livingroom and diningroom cathedral ceiling, effectively shutting off the air that's required to circulate through our soffit vent / roof cap cooled ceiling/roof system. This is just one very major example of the shoddy work this reconstruction firm provided to me. I had so many problems with this company and its sub's that I had to take time off work to be at the house whenever they were there in order to stop them each time they did something else terribly wrong. I have a complete, photographic record of this travesty. And I'm not alone in this experience . . . one of my colleagues at work, and one of my neighbors, both of whom were also USAA members, experienced similar disasters with this company. We all contacted USAA and requested they cease recommending Cary Reconstruction to policy holders in our area, only to find several years later that they were still doing so! Of course they were . . . because that company low balls bids and uses cheap labor so they cost USAA less!

Thus I'm not at all surprised to find USAA making this latest, underhanded attempt to find a way to get its policy holders' houses either down-valued, so USAA doesn't have to pay as much to replace the properties if they're destroyed, or their rates raised so they must pay more money (which they don't have in their pockets to spare) to USAA, increasing the company's ill-gotten profits.

Shame on you, USAA . . . once you were an outstanding insurance company, now you're just as bad as all the other Big Banks and Insurance Mafiosa who have taken over our government and bled the American middle class dry while ruining the United States and Global economies!

Anonymous
#380173

It sucks that you have lost the trust and loyalty you've invested with USAA for so many years. Now you're having to look for a good repritable insurance company you can build your trust in.

The problem with USAA is that they really don't care about the people and their family. IT'S ALL ABOUT THEIR BUSINESS ALONE! I'm bitter because I felt as though they abandoned me and my daughter (kicked us to the curb) when I got divorced from my ex-husband who was in the Air Force. I had banking, and wanted to get car insurance with them.

I was told that in order to get it, I would have to put my then separated AF husband's name on the insurance. But the car was mine - and in my name alone. They refused, so I went to GEICO and have been happy with them for te past 8 years. I still have a credit card and savings account with them, but since I cannot get any other service through them, I'm going to take my money to another bank (Credit Union).

So you are right in taking your business to another insurance company who will appreciate having you and your family. Good luck!

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Review
#277059 Review #277059 is a subjective opinion of poster.
Service
Usaa Claim

USAA review: Threw me to the dogs

I am a deployed Navy Officer (in Afghanistan), since my account went to collection they (USAA) refuse to talk to me. Instead their agents call and harass my family. They will not issue Home owners insurance....This is how they treat deployed service members?? Since Sept I have sent over $3000 to the past due accounts. The company seems to have not interest in dealing with me, once the jackels are involved. I will be home in 6 months and need to have this in a resolved paying status to keep my secret clearance and pass any employer review of my finances.
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3 comments
Anonymous
#604053

OMG.....be serious. The one thing that really *** me off is someone who deploys and then uses that as an excuse for not paying their bills.

Just because you deploy doesnt mean you dont have to pay your bills. Set up automatic payments to where they can draft your account or set up your web bill pay to do it for you. If youre married, your spouse should have done it for you....if you're not, you could have had a power of atty do it for you.

There are a lot of options but you failed to use ANY and then of course blame someone else for your shortcomings.

Anonymous
#610320
@Get Real

Often times people thank they are better than what they truly are. I too hate to see my fellow service members use deployment as a crutch. I personnally enjoy the low rate USAA gives when deployed.

Anonymous
#602422

Sounds frustrating. The thing is that sounds normal.

I mean... If you didn't pay any other type of bill the service would stop. Don't pay cell phone no new service till its paid, same with electric, same with credit cards.

I was late with USAA before as well but they sent me plenty of notices and called me a couple times. I too was deployed, I had everything taken care of before they sent it to and recovery area or creditor area.

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Review
#380882 Review #380882 is a subjective opinion of poster.
Product
Usaa Account
A few years back, I co-signed on a loan (later learned never to do that), with my brother. He never payed on it. I never knew he wasnt paying on it and one day I went to login into my account. It gave me the message, you are being denied for security reasons, please...
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7 comments
Anonymous
#425736

I have been a customer for over 20 years and now the scam is hitting with the insurance underwriters. I have no use for USAA and I hope they shut their doors.

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Review
#274805 Review #274805 is a subjective opinion of poster.
Service
Usaa Loan

USAA

dear USSA since you have said it's because of location and forcasted claims of the area i am always getting increased insuarance rates. So since joplin in MO got hit and now with all the new damage in all the other states on this day 2 march 2012 .So i can expect the same ansewr very soon about you increaseing my insurance rate again. You are supposed to be a company for the military but apparently you just want to make up the money for your corparation. I am disgusted by your practices and methods of extorting money from us that have served i will be findind another company that does not want to make up thier corprate losses by makeing honest home owners pay more.
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1 comment
Anonymous
#474426

I thought it was member owned company and not a corporation ( open to public trading)?

Is this no longer correct?

Review
#301764 Review #301764 is a subjective opinion of poster.
There are a number of reasons why I would NOT join USAA again in the future. For those that are considering this company to handle your insurance or financial situation be very weary of USAA's customer service capabilities. In my personal opinion, USAA is lacking...
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1 comment
John N
#409401

I used to have USAA while in the military years ago and they were very good. However, something happened to them and their customer service went straight downhill.

Now, I would NOT recommend them at all!!

Any company that requires you to go through hoops to then just wait for someone does not deserve my business. If I have any sort of choice, I dump those kinds of companies and go somewhere else.

Review
#288924 Review #288924 is a subjective opinion of poster.