My husnband is a colonel in the US Army ret- just got back from tour in Afghanistan. While he was gone we opened a HELOC - USAA had me PAY for appraisal- this was in October 2007. Two days ago (May 14th 2008) USAA called and informed me that they re-appraised our home and based on that and comps - they had dropped the value of our home over 50K - I asked to see appraisal and comps -they refused. We had actually just had a real estate agent bring us comps -they came in 3% from last fall - but certainly not down 30% - the market it slow but not dead where i live.

The result of this, the froze my line of credit- and are now requiring PMI -because we don't have 20% equity based on their new "appraisal" -

Spoke to 5 different people- and the supervisor at the top told us - that- market conditions and credit crunch is responsible - and they have the "right" to do this any time they want. To add insult to injury they had the GALL to tell us "No one else will do any differently your home is worth anything anymore..."

Funny - Pentagon federal credit union - sent appraiser out and retrieved comps from our actual neighborhood - and told us - no problem - they put the house at 55K more than USAA -

Needless to say - we're refinanincing everything-

USAA - is horrid bank - I can only assume that they didn't like that our HELOC was at 4.023% - and being that its end of quarter- they want to take write downs-

Really sucks since my husband has been a member for over 20 years- and we carried everything through them -

USAA is just another NASTY big bank - screwing people - beware- of doing any type of loan business with them.

Product or Service Mentioned: Usaa Loan.

Location: Madison, Wisconsin

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Honestly, it's moves like this that keep USAA strong financially. If they didn't seek pmi and you walked away from the loan (many do when equity falls) they would loose money.

This exact situation is the cause of the credit crisis that is causing our economy so many problems.

I know it's a crummy situation for you, but this is the way the system works. If they made risky decisions on loans (like WAMU, IndyMac, and Wachovia did) I wouldn't bank with them.


ove most of USAA PRODUCTS BUT, the banking DEPT overall, its a nightmare! over rated in customer service and policy. its so out of control now!!. i like to say that i was 100%happy customer w/peace of mind. after last 1 yr 1 half, its like their workers that came straight over from BOA! just horrible and rude.

my first an only payment to NISSAN webbill pay made us lose out on 1yrs w/on time payment program would get us a much lower rate etc ,payment set for 15th and nissan got it 22nd,.

i might as well just used my checkbook! we were renting a home for almost 2ys, used webbill send to monies to a fellow airman, i was renting from, so 3 months before we moved into our new home, webbillpay sent them checks and it was a pain bc we are very busy folks and we considered

hey you know.. airman needs the funds to pay his bills too on time. why be so consistent w payment method and w/o word just change it.

so we just called the owner and ask to meet them after taking out the rent$ to give them so we can get the pain in the *** check.

by this time USAA has caused us to lose money and just unreliable for assuring us peace of mind etc. so why sit and wait for checks to clear, when they could of posted the payment out like almost 2 yrs before etc..

even had problems..although our home is covered by them along cars etc and you know current address is required etc.. after 2,3 calls after moving to new home and new car purchase also.. it took after wasting time and fake helpful REps, to update all address and contact info etc..we closed 3-28 and they update all info in late May.lol


too many hassles by this time, so why wait for things to go wrong, and have to call and be on hold and repeating member # etc several times, to get them to repair the damages they caused and never should of had to beg and before the phone all day for them to do the right thing in the first place.


got $1200 chargeback to my acct and its the 12th and another one hit $500 to the same acct, thinking bc its the weekend and the higher up staff isnt there to freeze all 3 of the accts.

this a company that goes on about supporting the military right?

in all fairness to the bank etc.

chargebacks i thought bank were support to notify you, this is about to happen etc

this one broad higher up the chain on thursday. hrs has going by yet since the $1200chargeback. bc i called and wanted answers and i want to dispute it etc the broad froze al 3 accts,( out of spite!)

and their all joint accts, OK for whatever reason they took it, it had nothing to do wmy 8 yr old kid and the other had nothing to do w/my spouse that was on TDY for 45 days etc.

so the focus was me and me alone. they blackmailed me into covering the chargeback i was disputing, after telling them look whatever money thats due to post belongs to my husband, they didnt care , so i took my hubby funds to unfreeze accts so me and 8 yrs can survive.

not all of us have family or close friends to loan us a few bucks, everytime we hav a situation.

until they complete their investigation etc , i beg and beg this Rep to give us mercy by at least giving us a reasonable timeline to cover chargeback. etc all our paychecks are direct deposit, so why not work with us 15th around the corner and beside, the problem accts is on.

reasonable its on hold but the acct isnt joint with my spouse, so why bring him into this also? my spouse is lower ranking officer w/top and secret clearances, cant fly w/o it in AF.

so what fool would risk ruining their credit and good name for $1200? *** i mean why wasnt that used to blackmail us?

USAA the monster that it is.. bc the rep handling the chargeback disputes didnt get any return calls

she agreed to take the freeze off all the accts, if i took my hubby money to cover the chargeback, she couldnt wait for my august first paycheck direct deposit.

the USAA monster is greedy and irrational.lol

anyhow i was so happy that i was able to feed my kid and put food on the table and fill up the gas tank etc..

wasnt thinking at the moment how USAA was going to let let us go hungry etc and merciless beas t is shameless, heartless.

Integrity yeah.... and the support to us is a joke!

go hungry and risk credit damage and lose career if you dont pay chargeback on the USAA monster irrational timeline..

remember they are suppose to be investigating. so why not complete it and and then apply pressure to pay it at that time?

ok where is the military support or fairness here?

i dont see how they are on my team here.

well thats why made a change to them in 98.

just unreal and the on going nightmare caused us back over to BOA military bank for our banking needs.

dont get me wrong please. i dont expect *** kissing. im always respectful if i use a foul word. i say it excuse me..

after all cant curse the very rep that has the power in helping..

just be fair and consistence with ur policies and protocol.

i offered to send endless proof that the chargebacks are invaild etc ok dont listen to what im saying but let me show you proof , so you have more info to consider while ur investigating the chargebacks for me.

nah they had no desires to let me send them the info but this morning. i did go into USAA login using the msg option ,attached the info and posted the ext # of the Rep etc

explain to me whats the worse that could happened in the outcome( which im sure it wont if they do their jobs correctly) said i would have to pay it, their reason is because of them but not a bank error , so it shoudnt have to suffer the loss..well wait..

in fairness to bank. in good faith let our friends and family do cash advances etc either by calling in or us login into USAA inputing our own info or family and friends info etc ..

the feature is great but when things like in my case goes wrong, and i have proof but its clear why it went wrong to them and me now.

all they require is cc # billing zip, $ amount, 3 #s on the back of the card and thats it!

nothing standard like the exp, when we make a purchase at website.

USAA verification process is too soft, dont ask for name on the card and the same-thing , when you call the bank to process it for you etc..

they tell me that when they process to collect funds from the other side etc ..they use the members name.

well no wonder the other company sent it back. im not a valid user of the card..make sense for them to send it back bc it belongs to fRIEND and relatives lol ..duh

why offer the service for us and brag on how easy our friends and family can post funds to our USAA accts.

they did process it and looks like fraud from the other sides. they are protecting their customers, how doesnt it make sense?

that i would GET chargeback if they arent processing the info accureratly .never said im the card holder.lol its crazy!

friends and family cant send funds really.

, longs the banks arent doing their jobs on the other end, then you wont suffer chargebacks hassles. very shady of USAA its like.

SUPPORT US BY OFFERING SERVICES that helps us but also protects by being error proof etc .

so they dont have to be in a position to take funds from us and, hear ME begging to allow me to feed my kid and for the Rep to be merciful.and to please allow us to pay bills on the 15th.

i take it personal bc, they were willing to keep us from feeding our kid.and didnt give a *** about our careers, you mess someone kid, policy or not, its war!

black mailing bank

if there is a black b white policies thats deals with our case..please feel free to share it..wife_of_ironman yeahwhoo

costly lesson learned either way

no wonder many old timers, hide money in their homes bc, the banks are legal crooks

doing allotments to pay bills ,so it cant be at risk to go unpaid..gonna trust MAC until they mess up also.

BTW AFTER MY NIGHTMARE EXP using the cash advance ..guess what the REP...after all my problems wthe cash advances etc..

she ask do you all any credit card etc..why dont you use CC to do cash advance to cover any bills you are expecting ..hmmm isnt that the cause my problems in the first place..*** no!

so livid and out of energy just..laughed and asked are you serious?

twighlight zone

crazy USAA Rep lol


Are you talking about


Interesting--I'm also a Col 22+ yrs with USAA and haven't had any problems with them. But then I've never had a need for a Home Equity loan.

Obviously, you didn't do your research before jumping into this financial commitment. By the way--don't compare banks with credit unions.

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