when using assets to qualify - only liquid or can a house be used (split topic)

[anamaral 4]

1. You can get a joint sponsor.

2. I believe there is also a way to do this with assets. Seems like it is $60K cash or other liquid assets, but this is guess. Maybe someone else out there knows more about this.

I believe the general reason they do not allow your income from foreign countries is that it will not be continuing as you are moving to the USA. The AOS is a guarantee/proof from us that our spouses will not become dependent on the state in the future.

Hello

And do you know if for adding assets has to be only liquid or we could use something like a house?

Thanks!

[Moustafa/Crystal 65]

Hello

And do you know if for adding assets has to be only liquid or we could use something like a house?

Thanks!

As I said I am not well versed in using assets for the AOS, I think this will be more beneficial than my very vague recollections of reading about other people's experiences. http://travel.state.gov/content/visas/english/immigrate/immigrant-process/documents/support/i-864-frequently-asked-questions.html

Edited April 12, 2015 by Moustafa/Crystal

[anamaral 4]

As I said I am not well versed in using assets for the AOS, I think this will be more beneficial than my very vague recollections of reading about other people's experiences. http://travel.state.gov/content/visas/english/immigrate/immigrant-process/documents/support/i-864-frequently-asked-questions.html

Sure, thank you!

[Ryan H 3,813]

***Posts split into separate topic as poster is asking their own question and not replying to the OP of the other thread. Please start your own thread with your own questions instead of hijacking threads started by other members.***

**Moderator hat off**

Hello

And do you know if for adding assets has to be only liquid or we could use something like a house?

Thanks!

A house can be used under these circumstances:

• It must be appraised by a professional appraiser to determine value.
• If it is not owned outright (i.e. still making mortgage payments), then the amount owed is subtracted from the appraised value. The difference from that equation is the only number that can be counted.
• It must not be a primary home. If the liquidation of an asset within one year due to the terms of the I-864 not being met would cause an undue hardship to the holder, then the asset will be disallowed. Loss of a primary home constitutes an undue hardship.

[Dave&Roza 748]

Hello

And do you know if for adding assets has to be only liquid or we could use something like a house?

Thanks!

Assets must meet a few requirements like readily convertible into cash within a period of 1 year, cannot place an undue hardship on the petitioner if sold, and must have an appraised value from a reputable source. So the main house is out and so is the only car as those will cause undue hardship. Anything else that can be appraised and sold within a year can be used. It is up to the IO as to whether they will accept your assets or require you to get a joint sponsor. Assets for a spouse are taken at 3X their fair market value and if sponsoring someone other than a spouse the assets are taken at 5X their fair market value. So if you have $15,00 for an income you need $15,000 in assets if sponsoring your spouse or $25,000 for someone else (That's a $5,000 shortfall times either 3 or 5 using round numbers). If you suddenly have a large infusion of cash, it will need to be in your bank account for a while before they will accept it.

Dave

[anamaral 4]

Assets must meet a few requirements like readily convertible into cash within a period of 1 year, cannot place an undue hardship on the petitioner if sold, and must have an appraised value from a reputable source. So the main house is out and so is the only car as those will cause undue hardship. Anything else that can be appraised and sold within a year can be used. It is up to the IO as to whether they will accept your assets or require you to get a joint sponsor. Assets for a spouse are taken at 3X their fair market value and if sponsoring someone other than a spouse the assets are taken at 5X their fair market value. So if you have $15,00 for an income you need $15,000 in assets if sponsoring your spouse or $25,000 for someone else (That's a $5,000 shortfall times either 3 or 5 using round numbers). If you suddenly have a large infusion of cash, it will need to be in your bank account for a while before they will accept it.

Dave

Thank you very much!!