Can a retired person be a cosponsor?

[Suzanne and Gary 0]

That's the question. Anyone know?

[Suzanne and Gary 0]

Thank you. weare in the process of filling out the forms and I am really stressing. My 2005 taxes I submitted for the K1 just were over the povery lines and I was going to just submit that tax form again but I am worried they will want the 2006 forms and because I am self employed and buisness expenses reduced my net income it is below the poverty guidelines. Trying to decide what to submit and thinking maybe my chances are better if I just have my parents be cosponsors. Can't believe they approve your K1, let him come here and get married and now we have to stress if he still can stay!!!!

[rebeccajo 14]

Yes. It's not the source of their income that counts, it's whether combined with your income you reach 125% above the proverty line.

I'm sorry, that is incorrect. Sponsor's and co-sponsors income cannot be combined to meet the income criteria unless they are members of the same household.

Do you have a savings account or are purchasing your home? You can use the cash in your savings account and the equity in your home toward the 125% proverty line.

Cash yes. Equity questionable.

I used my savings to justify a shortfall and the financials were approved. I also showed my real estate, but it was the cash that was recognized.

Edited March 11, 2007 by rebeccajo