Another I-134 question - assets

[sichuan red 5]

OK gang, here's the situation. I was recently let go from the firm I worked for for almost 10 years. My income for this year easily exceeds the 125% level even with the layoff. Howevever, the I-134 will need to be filled out and I may not be able to present any current proof of employment. I hope to find another position before that time but in my industry it is hit or miss. One can easily be out of work for 3 to 9 months. I will not be in any financial dire straights but I do not want anything to negatively impact our visa chances.

Here is my current situation regarding assests:

I am currently behind in my mortgage payments for the home I currently live in due to the loss of employment. This house will be a short sale or go to foreclosure. This is a non-issue in my book.

I own several other properties, the individual values of each well exceeds the 125% guidlines as well. I own these properties free and clear with no mortgages or other encumbrances. Since I recently acquired these properties, I can not show a history of cash flow from them. Obviously, I may well need to use one of them as my primary residence in the near future.

This brings me to the point of my posting. GUZ will be the arbitrator in this case and I need to know if they will consider my proerties or do I need to make sure I am employed before the I-134 gets to GUZ. This is very important and I do not want anyone to speculate here. If you are familiar with GUZ and ,more importantly, this specific type of situation, please feel free to respond. As we are all very well aware, GUZ makes up their own rules as they see fit.

A humble petitioner for my lao po in Sichuan.

[Boiler 43,659]

Will the Consulate accept assets or only income?

[pushbrk 12,199]

OK gang, here's the situation. I was recently let go from the firm I worked for for almost 10 years. My income for this year easily exceeds the 125% level even with the layoff. Howevever, the I-134 will need to be filled out and I may not be able to present any current proof of employment. I hope to find another position before that time but in my industry it is hit or miss. One can easily be out of work for 3 to 9 months. I will not be in any financial dire straights but I do not want anything to negatively impact our visa chances.

Here is my current situation regarding assests:

I am currently behind in my mortgage payments for the home I currently live in due to the loss of employment. This house will be a short sale or go to foreclosure. This is a non-issue in my book.

I own several other properties, the individual values of each well exceeds the 125% guidlines as well. I own these properties free and clear with no mortgages or other encumbrances. Since I recently acquired these properties, I can not show a history of cash flow from them. Obviously, I may well need to use one of them as my primary residence in the near future.

This brings me to the point of my posting. GUZ will be the arbitrator in this case and I need to know if they will consider my proerties or do I need to make sure I am employed before the I-134 gets to GUZ. This is very important and I do not want anyone to speculate here. If you are familiar with GUZ and ,more importantly, this specific type of situation, please feel free to respond. As we are all very well aware, GUZ makes up their own rules as they see fit.

A humble petitioner for my lao po in Sichuan.

Consulates handle each case individually but generally consider assets according to the I-864 guidelines, even for I-134. GUZ, definitely follows those guidelines. From the I-864 instructions. Remember for a spouse of US Citizen, $3 in liquid assets are needed to replace $1 of income shortfall.

How Can I Use Assets to Qualify?

Assets may supplement income if the consular or immigration officer is convinced that the monetary value of the asset could reasonably be made available to support the sponsored immigrant and converted to cash within one year without undue harm to the sponsor or his or her family members. You may not include an automobile unless you show that you own at least one working automobile that you have not included.

It should be noted that equity in the primary residence will not generally be considered (see note about automobiles) as to liquidate the primary residence would not be done WITHOUT undue harm... When using real property as assets on an affidavit of support, both evidence value (a recent appraisal) and mortgage balance (or evidence there is no mortgage) are required.

[sichuan red 5]

Consulates handle each case individually but generally consider assets according to the I-864 guidelines, even for I-134. GUZ, definitely follows those guidelines. From the I-864 instructions. Remember for a spouse of US Citizen, $3 in liquid assets are needed to replace $1 of income shortfall.

How Can I Use Assets to Qualify?

Assets may supplement income if the consular or immigration officer is convinced that the monetary value of the asset could reasonably be made available to support the sponsored immigrant and converted to cash within one year without undue harm to the sponsor or his or her family members. You may not include an automobile unless you show that you own at least one working automobile that you have not included.

It should be noted that equity in the primary residence will not generally be considered (see note about automobiles) as to liquidate the primary residence would not be done WITHOUT undue harm... When using real property as assets on an affidavit of support, both evidence value (a recent appraisal) and mortgage balance (or evidence there is no mortgage) are required.

Hey Push, that's exactly what I was looking for. That's good news for me. My rental properties will cover my income shortfall.

Thanks!

A humble petitioner for my lao po in Sichuan.