Just retired from the U.S. Army and trusted USAA for 30 years.  Now that I'm living just on retirement pay I needed to tap into my 40% home equity.   I thought no issues right... I was so wrong.  Don't wait until you retire to ask for a home equity loan.  It's time to take my USAA business else ware.  They have become the big company no longer looking out for members.  So disappointed in USAA.  So long after 30 years!

Ian G.


wait, you wanted a home equity loan, but no income from a  job to pay it back ? actually you have it all backwards. You're supposed to downsize and cut back on expenses while you have a job, so the loan process is easy (because you have a job).  You sell your big/expensive house and buy a cheaper house/condo, bank the difference (get your equity out, or 40% in your case). Your approach is a huge financial gamble, did you review it with usaa or any other lendor  BEFORE you tried to do it ?

I feel your pain.  USAA is no longer an organization that is concerned about their members, now they follow the rules of big corporate America.  Once my teenagers move on with their own auto insurance, I will be cutting my ties after 27+ years.  If I am to be treated like a number, then I see no sense of loyalty back.