USAA is giving members a couple of months free insurance. I don't think they have the money on hand for a refund.
Meanwhile, right or wrong, I dumped half my investment assets and fled to cash today after hearing that 2 million mortgage lates have happened in the last two weeks. It took over a year during the Great Recession for that to happen. An article in the LA times thinks up to 15 million mortgage defaults can take place and those guys are mere speculators in the financial news. Trouble is that after 120 days of forbearance, Frank-Dodd requires foreclosure proceedings to begin and non-performing assets do not help leveraged bank balance sheets. The Fed has already relaxed bank leverage requirements, but GovCo sponsored enterprises like Fannie and Freddy are literally still dealing with the fallout from the Great Recession.
In the context of a political situation where we can only do one thing at a time, and that thing for now is to try and oust our executive branch from office which means politicalizing every blessed thing the executive branch does, I have little confidence that Congress will bring timely legislature to bear before things really hit the fan. For those reasons, I'm going to sit on the sidelines hoping I don't see a train wreck in slow motion coming down upon the USA. Investment wise, with the mass media and one one-particular voting block fighting against flipping our economy back on, what I mean is that I suddenly believe there are economic pains coming that are unrelated to COVID19 that can still shock our markets down as we saw last month in March, 2020.
Meanwhile, my little real estate brokerage is fairly busy considering nobody is moving around. I had planned to expand my operation this year but my COVID19 hassle is that I cannot get new agents because all the license testing has been shut down since the first week of March.
If I'm wrong by pulling assets out of the market, all I miss out on is opportunity.