Does Property in Foreign Country count towards assets for I864

[gamm3 13]

My husband and I own a property (apartment) in Colombia that has been officially appraised. The difference between the appraisal amount and the loan amount is about $50.000. Can we use this property plus some other cash as enough assets to not need a joint sponsor for our Affidavit of Support. The other cash is in accounts in the US and Colombia but it can be easily moved. We are both living and working in Colombia and have good prospects to get jobs in the US when we move, but obviously we cannot use our Colombian jobs as proof of income.

[canadian_wife 1,829]

How liquid is that property? How is the market there and how easily could it be converted to cash?

good luck

[pushbrk 13,252]

My husband and I own a property (apartment) in Colombia that has been officially appraised. The difference between the appraisal amount and the loan amount is about $50.000. Can we use this property plus some other cash as enough assets to not need a joint sponsor for our Affidavit of Support. The other cash is in accounts in the US and Colombia but it can be easily moved. We are both living and working in Colombia and have good prospects to get jobs in the US when we move, but obviously we cannot use our Colombian jobs as proof of income.

If you read the definition of liquid assets, you'll get an idea of what will be seriously considered for the affidavit of support. The family home, would not generally be liquidated to support the immigrant without undue harm to the family. A joint sponsor or the US citizen leaving to secure a job are the better options. You could always try but won't know the outcome of the judgment call until the interview. How much "other cash" are you talking about? That could make a big difference.

[gamm3 13]

I think in the instructions it says property that could be liquidated in a year and that is extremely plausible here. It is in a dense area and a big city in a bullish market. It is probably a lot more liquid than the US market for example. I just don´t know if the US would accept it with an official translation of the appraisal done in Spanish.

[pushbrk 13,252]

I think in the instructions it says property that could be liquidated in a year and that is extremely plausible here. It is in a dense area and a big city in a bullish market. It is probably a lot more liquid than the US market for example. I just don´t know if the US would accept it with an official translation of the appraisal done in Spanish.

Since you won't be living in the home, it might be considered to be liquidatable WITHOUT UNDUE HARM to the family. It's the undue harm that is the issue. They will accept it as an asset but the judgment call is whether they consider it available for supporting the immigrant.

[Penguin_ie 5,997]

How much cash are we talking about and what is your household size? Some embassies count foreign property/ assets, some only at x5 (rather than the usual x3 for spouses), and some not at all.

[gamm3 13]

Its probably enough cash to be about $5-10.000 over the x3 poverty level (if added to the 50.000 of the apartment). Household size is two - my husband and I.

Is it too risky to go in with just assets to cover the sponsorship and then if I get an RFE, ask my dad to do a joint sponsorship?

I will maybe ask the question in the Colombia forum to see if anyone has experience with this at the Colombian embassy.

[pushbrk 13,252]

Its probably enough cash to be about $5-10.000 over the x3 poverty level (if added to the 50.000 of the apartment). Household size is two - my husband and I.

Is it too risky to go in with just assets to cover the sponsorship and then if I get an RFE, ask my dad to do a joint sponsorship?

I will maybe ask the question in the Colombia forum to see if anyone has experience with this at the Colombian embassy.

Whether it's too risky or not, depends on the assets. You still haven't answered the direct question about the other cash but YES, you will be wise to use a joint sponsor with a qualifying income.

[gamm3 13]

Whether it's too risky or not, depends on the assets. You still haven't answered the direct question about the other cash but YES, you will be wise to use a joint sponsor with a qualifying income.

I did answer it in my quote above didnt I? apt = 50.000 plus enough cash to be about $5 - 10.000 over 3 x the poverty level. Don't know if that is considered "comfortably over" or not.

[pushbrk 13,252]

I did answer it in my quote above didnt I? apt = 50.000 plus enough cash to be about $5 - 10.000 over 3 x the poverty level. Don't know if that is considered "comfortably over" or not.

The problem is I don't know how much money that is. It's a simple question. Answer or don't. Without an answer, I'm unable to form a reliable opinion and really, neither is anybody else.

[gamm3 13]

Ummm OK..... I will take a deep breath - no getting into fights over the internet. Honestly I was trying not to lay it all out there because this is the internet and its not that cool having everyone know your exact finances.

Maybe you don´t know the 3 x the poverty level. $56.800.

56.800 plus (5 - 10.000) over the 3 x the poverty level = 61.800 - 66.800

Subtract this number from 50.000 of the apart is 11.800 -16,800. (Conservative estimate)

ANYWAY my main question is if the foreign asset of the apartment will be counted even though it is not in the US.

Thanks for help from anyone who has experience with this.

[pushbrk 13,252]

Ummm OK..... I will take a deep breath - no getting into fights over the internet. Honestly I was trying not to lay it all out there because this is the internet and its not that cool having everyone know your exact finances.

Maybe you don´t know the 3 x the poverty level. $56.800.

56.800 plus (5 - 10.000) over the 3 x the poverty level = 61.800 - 66.800

Subtract this number from 50.000 of the apart is 11.800 -16,800. (Conservative estimate)

ANYWAY my main question is if the foreign asset of the apartment will be counted even though it is not in the US.

Thanks for help from anyone who has experience with this.

We don't know your family size or who you are, so didn't have data to make those calculations. We also don't know whether YOU know how to do these calculations. Lots of folks don't apply the 3X. $15,000 could easily become zero by the time you make the move and establish a residence.

Anyway, there is no sure answer except the one you would get at the interview. My advice is to go ahead with the joint sponsor. If you and the sponsor are confident you and your spouse can and will be self-sufficient, then why risk delay?