Net cash value of real estate and bank account

[survivingnemo 0]

Can I use the Notice of Property Value, which is mailed from the Department of Finance of the city every January ? Or do I have to get a paper from a certified appraiser.

Regarding the $$ on the checking/saving/CD, do I need to get some paper from the bank ? Or I can simply put the amount in the form.

Thank you very much !!!

[Anh map 2,098]

If your annualized income meets the requirement then the other info in not needed. If you want to use your home then a recent valuation from a licensed appraiser is needed. Tax valuations are not acceptable.

For bank accounts, if needed, a few recent statements ought to be enough.

[survivingnemo 0]

If your annualized income meets the requirement then the other info in not needed. If you want to use your home then a recent valuation from a licensed appraiser is needed. Tax valuations are not acceptable.

For bank accounts, if needed, a few recent statements ought to be enough.

Thank you !

My income in 2009 was slightly below the line, about 17,000. In the last two years, they are both above it, but not by too much.

That's why I want to show my condo value just to be safe.

There are taxable value, actual assessed value and market value in the form from the city.

The actual assessed value from the city is actually way blow the fair market value. My guess is the number would be higher if I get that from a licensed appraiser. But I would rather save the trouble if the actual assessed value from the city is sufficient.

It might be easier just providing the bank information. But is it ok if leave the real estate part blank ?

Anyone has a better idea?

[Anh map 2,098]

Thank you !

My income in 2009 was slightly below the line, about 17,000. In the last two years, they are both above it, but not by too much.

That's why I want to show my condo value just to be safe.

There are taxable value, actual assessed value and market value in the form from the city.

The actual assessed value from the city is actually way blow the fair market value. My guess is the number would be higher if I get that from a licensed appraiser. But I would rather save the trouble if the actual assessed value from the city is sufficient.

It might be easier just providing the bank information. But is it ok if leave the real estate part blank ?

Anyone has a better idea?

Assets are factored at a 3:1 ratio ($3 in assets = $1 of income). Current and continuing income is what is measured. 2009 won't matter.

If income is sufficient, leave the other sections blank.

[survivingnemo 0]

Right, but I am not sure how much I will make this year.

I work part time and get paid by hour.

That's the problem.

[Anh map 2,098]

Right, but I am not sure how much I will make this year.

I work part time and get paid by hour.

That's the problem.

Do the math based on what you reasonably expect to earn this year. Support that claim with an employer letter and recent paystubs. if the assets will get you over the line then get the valuation. If you are going to be short, then obtain a joint sponsor.

Edited May 18, 2012 by Anh map