HELP WITH PROVING ASSETS

[alaura 0]

Hi  I am new to this group with my husband. We're filling out documents and we're completely lost at one point which is : assets. His parents are going to be co sponsors, they have a household of 5 + then me. What assets can we use and how much should it be in total? From where can we get for example house worth? 

Can you please help how to start, what do we need etc.

Thank you so much 

[JeanneAdil 6,191]

https://travel.state.gov/content/travel/en/us-visas/immigrate/the-immigrant-visa-process/step-1-submit-a-petition/i-864-affidavit-

 

the net value of real estate is the appraised value minus any liens or loans on the property

the house  must be appraised by a qualified person 

 

and you must show the property can be sold and cash be on hand in a year

 

In general, the combined cash value of all the assets (the total value of the assets less any offsetting liabilities) should exceed five times the difference between the alien’s household income and 125 percent of the FPG

 

I thought you can not use primary residence but i will stand corrected on that issue as i can not find it discussed in USCIS site

[payxibka 10,044]

33 minutes ago, JeanneAdil said:

https://travel.state.gov/content/travel/en/us-visas/immigrate/the-immigrant-visa-process/step-1-submit-a-petition/i-864-affidavit-

 

the net value of real estate is the appraised value minus any liens or loans on the property

the house  must be appraised by a qualified person 

 

and you must show the property can be sold and cash be on hand in a year

 

In general, the combined cash value of all the assets (the total value of the assets less any offsetting liabilities) should exceed five times the difference between the alien’s household income and 125 percent of the FPG

 

I thought you can not use primary residence but i will stand corrected on that issue as i can not find it discussed in USCIS site

Only if you can demonstrate it can be converted to cash within one year.  For a house,  not sure how you could do that 

[JeanneAdil 6,191]

3 minutes ago, payxibka said:

Only if you can demonstrate it can be converted to cash within one year.  For a house,  not sure how you could do that 

Neither do I but it is rule as listed this way on the site

 

What can be used as assets? Financial sponsors can only include assets that are convertible into cash within one year and without considerable hardship or financial loss to the sponsor and his/her family.

[alaura 0]

1 hour ago, JeanneAdil said:

https://travel.state.gov/content/travel/en/us-visas/immigrate/the-immigrant-visa-process/step-1-submit-a-petition/i-864-affidavit-

 

the net value of real estate is the appraised value minus any liens or loans on the property

the house  must be appraised by a qualified person 

 

and you must show the property can be sold and cash be on hand in a year

 

In general, the combined cash value of all the assets (the total value of the assets less any offsetting liabilities) should exceed five times the difference between the alien’s household income and 125 percent of the FPG

 

I thought you can not use primary residence but i will stand corrected on that issue as i can not find it discussed in USCIS site

So let's say under the 5 people household, 2 of them they make money, what if we didn't want to use then the house asset and his parents but the second person income because then it would work but only if it counted as 3 people household (me, my husband and his brother)? Or he needs to live under other address to be used? 

[JeanneAdil 6,191]

1 hour ago, alaura said:

So let's say under the 5 people household, 2 of them they make money, what if we didn't want to use then the house asset and his parents but the second person income because then it would work but only if it counted as 3 people household (me, my husband and his brother)? Or he needs to live under other address to be used? 

Follow the instructions on the I 864

I did it a long time ago

if it says "all household income???" then i would think u need to do just that

and all household members must be included / no way around that one

 

i am sure you'll get some better advice on this as i really don't know how to answer

[Ryan H 3,790]

Moved from Progress Reports to Process & Procedures.