tax 2015 show insufficient income

[Rc123rc 528]

Hello,

thank you for your advice, I own 2 houses and will qualify with the 2 houses. maybe you can help me with this next question: the deed is in my name and taxes, but the mortgage is in someone else name, will that be a problem? also for the k-1 fiance visa, do i fill out the 1-864 or i-134? thank you in advance.

If you have a deed then there should be no mortgage and therefore not required to report. However, if there is a mortgage in place then you can only use the net value of the home. Cost of the home minus the amount of the mortgage. There might be a rule in the I-864 about that. Also, the house has to be readily sellable. If it's run down then you have to use appraised value minus the mortgage. Again, I don't know what I-864 says about homes. Forgive my lack of knowledge.

[kara&mati 33]

If you have a deed then there should be no mortgage and therefore not required to report. However, if there is a mortgage in place then you can only use the net value of the home. Cost of the home minus the amount of the mortgage. There might be a rule in the I-864 about that. Also, the house has to be readily sellable. If it's run down then you have to use appraised value minus the mortgage. Again, I don't know what I-864 says about homes. Forgive my lack of knowledge.

thank you once again this is helpful

[KayDeeCee 4,903]

Anyone can easily(and should) look up the I-864 instructions and read them.

Pages 8 and 9 pertain to assets and using value of a home >

Only assets that can be converted into cash within one year and without considerable hardship or financial loss to the owner may be included. The owner of the asset must include a description of the asset, proof of ownership, and the basis for the owner’s claim of its net cash value.

You may include the net value of your home as an asset. The net value of the home is the appraised value of the home, minus the sum of any and all loans secured by a mortgage, trust deed, or other lien on the home. If you wish to include the net value of your home, then you must include documentation demonstrating that you own it, a recent appraisal by a licensed appraiser, and evidence of the amount of any and all loans secured by a mortgage, trust deed, or other lien on the home. You may not include the net value of an automobile unless you show that you have more than one automobile, and at least one automobile is not included as an asset.