CM84_AF
Occasional Contributor
So my story is I haven't been able to work for roughly 2 years, while being active duty. That entire time I've been in the MEB process and currently (since Feb) I'm awaiting a decision from SAFPC. Since Feb, I've been told 2-3months. So we figured we'd be able to get the kids started in WA, where our family is, when school began the following year. Reasonable plan, but, we never heard anything from SAFPC. Instead of having them switch soon after starting school and having recently started receiving Soc Sec benefits, we decided to move the kids and my wife into a home near her family. Great plan but, after being approved for the VA Loan by USAA, offer was accepted, earnest paid, inspection done, kids enrolled...only then did USAA say:

"Wait...you're still active duty and you're not receiving these benefits yet."
----"Yeah, it's a proposal letter because they can't pay me till the AF decides it's rate."
"But this could change and there's no gaurantee you'll receive the money immediately."
---"I did explain all of this before you approved me. But yes, it's only 90%, I plan to appeal for 100% after the SAFPC decision is made before I am out. Since social security already shows me as disabled, I like my chances."
"But...you're not receiving these benefits yet. We can't consider it as income unless you're receiving it."
---"Well, then use my current pay."
"We can't use that because you're retiring."

In the end, the processor sends my loan up for review with just my social security income. Given I'm enlisted, there's not much there. Not that I'm asking for much, 3bd 1600sqft.

If anyone has an idea of how to get this fixed, please contact me or post. I doubt I'm alone in experiencing this and it seriously needs to be fixed. As the defenders of the country, we do not need this kind of treatment as we return to civilian status.

7 REPLIES

Many Patriots got out of USAA months ago. Those left are paying the price. Sorry to hear of your circumstances. Hopefully you can get a loan somewhere else.
I'd like to believe they'll realize how ridiculous it is to think I won't receive benefits after having done all the exams and waited several for the proposal letter. I think they do not realize how there are different options when retiring. I /could/ have just gotten out immediately and had to wait on benefits to start but going this route, they're instead waiting on me. That choice is all about whether you have employment lined up. In my case, no. I'll need to acquire the knowledge and skills to work from home...and find an employer who will hire me.<br><br>Anyway, USAA, trust us to pay our bills. I know what I'm doing...approve the loan...

CM84_AF,

 

I appreciate you taking the time to post your experience in the Community. I understand you might have a unique situation with your income and would like to have someone review this matter further. USAA is committed to assisting our members with their mortgage needs. I have taken this opportunity to share your experience with a colleague in the mortgage area for review. They will research your experience and reach back out to address your concerns. I appreciate you bringing this matter to our attention and look forward to restoring your trust in USAA. -Gus

USAA, Thanks for the response. I do want someone to review it and contact me immediately. The owner's of the house my family wants to move into are not likely to wait long, if at all. I've honored every contract I've ever signed, I wouldn't sign this one if I couldn't. Just allow me to move my family into the home they want...
Gus/USAA,
I received an email from my processor explaining everything that could be looked at has and they will not consider my current pay, disability pay, Voc Rehab, GI bill as income. So, social security is still all that is on my loan application. Just want to be sure this the review I was informed of on here before I move on.

To follow up on this, USAA did not choose to finance me.  

 

The path I'm currently exploring is using my base retirement income (~1k/mo less) to qualify for a home loan through another lender.  Oddly, lenders do seem willing to use an estimated retirement while they're completely unwilling to use an estimated VA disability.  I am trying hard to keep the closing date of 19Sep for the sellers...after all their only mistake seems to have been the same as my own, trusting USAA.

 

In the near future, I am planning to pay off my auto loan and move my insurances to ensure that USAA never makes another dollar off me.  By the way, their Home Owner's Insurance is a rip-off.  Haven't looked at auto yet but, I doubt it's any different.  

 

I'll also never recommend USAA to any family, friend or acquaintance and eventually, I will close all my accounts with them.  There's just no reason for me to show support for this company, they've completely lost my respect.

CM84_AF, I'm sorry to hear how let down you feel and I appreciate the opportunity to help. I'm engaging a subject matter expert to review your information and address your concerns. Thank you. -Paula