May i be sponsor without income?

[littlemeli 1]

We are planing to apply AOS for my spouse.i don’t have income no tax returns..but i own a condo assesed value is 321K and money in bank account around 70K... no childen we live in FL

 

may i be sponsor for my spouse or will we need a joint sponsor? 

[littlemeli 1]

its our primary residence

[littlemeli 1]

its our primary residence, how do you know?  never read anything like that

 

there is no mortgage on it..can i ise as assets ?

[aleful 1,905]

yes you can, but it might be rejected by the officer, since it's your primary residence

 

if it needed to be liquidated, they don't want you to become homeless. it is always better a second property

 

 

[kris&me 572]

can not use primary residence

any other property need to get appraised and deduct the amount owed on property

$70000 is not enough to cover the 5 times the poverty level  $20290 for 2 

and if this is invested money and can not be liquidated in a year (frozen as in some investments are for a period of time),  it can not be used

if you have untaxable income plus money in savings account check the USCIS guidelines page to use it

[kris&me 572]

it says you can not use primary residence in the USCIS guidelines 

but you can sell it now

and use the assets from it and buy a cheaper place to live

 

[MrHanky 1,379]

1 minute ago, Dee elle said:

https://www.kwvisalaw.com/green-cards/family-based-green-cards/affidavits-of-support/

 

http://lawandborder.com/i-864-affidavit-of-support-help-center/

 

The assets must be “available for the support of” the sponsored immigrant.^[108] To qualify as “available,” the assets must be “readily converted into cash within one year”^[109] without “undue harm to the sponsor or his or her family members.”^[110]

 

 

Having to sell the family home, in order to say pay medical bills, is likely to be consiedered creating " harm to the sponsor or his or her family member".

 

You asked a question.. i gave an answer.. 😎   . there are lots of things I havent heard about that are noe the less true... do your own research amd make your decision..... 

People ask questions and then don't want to accept the answers, they keep asking till they hear what they want to hear.

 

 

[littlemeli 1]

thanks for the answers

 

well how much should i have in my account to not to need joint sponsor??? 

 

if we need a joint sponsor how much money should he or she make ???

[kris&me 572]

Item Number 10. Total Value of Assets. In order to qualify based on the value of your assets, the total value of your assets must equal at least five times the difference between your total household income and the current Federal Poverty Guidelines for your household size, however, if you are a U.S. citizen and you are sponsoring your spouse or minor child, the total value of your assets must only be equal to at least three times the difference. If the intending immigrant is a foreign national orphan who will be adopted in the United States after he or she acquires permanent residence, and who will, as a result, acquire citizenship under section 320 of the INA, the total value of your assets need only equal the difference

 

 

I 864  says you can use home

Part   5

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. Form I-864 Instructions 07/02/15 N Page 9 of 16 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. Item Numbers 1. - 4. Assets. To use your own assets, youOnly 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. Form I-864 Instructions 07/02/15 N Page 9 of 16 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. Item Numbers 1. - 4. Assets. To use your own assets, you

 

[littlemeli 1]

7 minutes ago, kris&me said:

 

I 864  says you can use home

 

Only assets that can be converted into cash within one year and without considerable hardship or financial loss to the owner15 N Page 9 of 16 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

 

Thank you that’s great..i was sure i can use my primary home as assets..but not your primary car..1 car doesn’t count..

i own a condo no mortgage or lien on it..i can see on my property tax bill assesed value is 321 K 😁 so we will not need a joint sponsor 😁

Edited December 25, 2017 by littlemeli

[florida racer 73 200]

2 hours ago, littlemeli said:

Thank you that’s great..i was sure i can use my primary home as assets..but not your primary car..1 car doesn’t count..

i own a condo no mortgage or lien on it..i can see on my property tax bill assesed value is 321 K 😁 so we will not need a joint sponsor 😁

Just in case things do not go as planned with using your assets, I might recommend trying to find a co=sponsor in the event you may need one, it is better to be prepared....

 

Good luck

[Michael2017 368]

Of course you can include the primary home as asset. Many did and it is never a problem. So many here post really uninformed!

 

Why they allow the primary residence as asset? Because of course, you can get a mortgage on it and use its equity.

 

Don`t let others bring you down. You need an recent appraisal and that`s it! 

[Villanelle 4,123]

I dont think the people posting about not using the primary home as an asset are uniformed rather misinformed. It use to be that the primary residence wasnt allowed. (it specifically stated such). Recently the form/instructions were changed stating (as posted above) your home may be used etc etc.

 

To use the home you need an appraisal. This can cost 200-600$ apx and take several weeks to obtain. You can also include the tax assessment as proof of the value but you still need the appraisal. It will be up to the Officers discretion on whether they accept it or not. Some have the mindset still that it would be a hardship to sell your primary residence so they dont accept it. Others accept it with no issue. Personally I think it will be fine if you have over 300k in equity in the home and 70k in liquid funds but you never know. 

[littlemeli 1]

2 hours ago, Damara said:

 

To use the home you need an appraisal. This can cost 200-600$ apx and take several weeks to obtain. You can also include the tax assessment as proof of the value 

i’m not thinking to pay extra bucks for appraisal..just going to add property tax bill which show assessed value, i guess it will be fine

 

 

Edited December 25, 2017 by littlemeli

[geowrian 22,341]

A primary residence can be listed as an asset, although whether or not the IO will consider it is another question, which depends on the circumstances. The ability to liquidate the asset within 12 months is one requirement, but not the only consideration.

 

For instance, assume the necessary asset level was $67,000 and you had no income but $75,000 in equity. Does it make sense that the sponsor could both fulfill the 125% income level for the intending immigrant while also taking care of their own housing arrangement (i.e. if divorced)? This seems unlikely (to me), at least prima facia. But if the home had $300,000 in equity, then other opportunities such as refinancing the home or selling it and finding alternative housing arrangements come into play, while still being able to meet the I-864 sponsorship requirement for the intending immigrant.

In the former example, selling the house to meet the I-864 requirements is likely to cause an undue burden on the sponsor. In the latter, the opposite conclusion seems more likely.

 

2 hours ago, littlemeli said:

i’m not thinking to pay extra bucks for appraisal..just going to add property tax bill which show assessed value, i guess it will be fine

Well, that's one way to do it. But it also certainly has an increased risk of not being accepted due to insufficient evidence of current value.

Edited December 26, 2017 by geowrian