Affidavit of support and Mortgage

[YnaYeBa0808 0]

hi guys, i guess im just pondering on the fact that the I-134 form asks you if you own any property and the current value of the property. Right under it also asks a question of mortgage (im assuming this is the money that you owe in the bank). thing is, right now my property has increased in value and i actually have a written asessment of that. however, that being the case, im also stuck with mortgage payments. I was just wondering how this will affect, or if it would affect any inquiries with regards to being able to sponsor my fiance...

it is still a long ways before his interview date, should i just leave that portion blank? my income level as well as savings is, IMHO enough to prove that i am financially able to sponsor my fiance though.

i hope you guys can help. Thanks

[raymaga 25]

We didn't use any other financial information except my husband's income for our Affidavit of Support.

If you make above the 125% Poverty Guidelines, then you don't need to provide any additional financial information.

[YnaYeBa0808 0]

oh yay! okay ill just supply that information then. thanks raymaga

[William33 110]

I just looked at the form, with respect to real estate, they are just asking for additional assets that you may have.

You own a home, you have a mortgage (don't we all), the difference = realized assets.

If you owe less than what the house is worth, you have additional assets to be considered.

Use it!! Cannot hurt.

hi guys, i guess im just pondering on the fact that the I-134 form asks you if you own any property and the current value of the property. Right under it also asks a question of mortgage (im assuming this is the money that you owe in the bank). thing is, right now my property has increased in value and i actually have a written asessment of that. however, that being the case, im also stuck with mortgage payments. I was just wondering how this will affect, or if it would affect any inquiries with regards to being able to sponsor my fiance...

it is still a long ways before his interview date, should i just leave that portion blank? my income level as well as savings is, IMHO enough to prove that i am financially able to sponsor my fiance though.

i hope you guys can help. Thanks

[YnaYeBa0808 0]

sigh now im stressing... hahahaha... thats what i thought so too william. im just nervous about filing it wrong which can lead to a non approval. i dont want to put any possible harmful information that is not essential to begin with...

[rebeccajo 14]

Idea. This will work since you don't need the equity in your house to support your affidavit, but you want to show ownership.

Subtract the current balance of your mortgage from the price you paid when you bought it. Enter that figure on the line and list 'equity in home' to the side. A bit further out show your math and state 'XXXX (year) sales price' and 'present mortagage balance'.

This gives you a conservative equity figure as it's based on the value of your home when you bought it.

I believe that listing a house on your petition indicates stability, which is always a good thing in financial matters.

[Neya 0]

Ok I'm have the same question.... help me interpret this correctly. If my income is above the recommended amounts, I don't even have to supply my mortgage information? However I should supply it as additional proof???

I could be paranoid but it seem like so much personal information is just floating around for this process and with identity theft and all ... I guess I'm just over thinking this....

[Sheriff Uling 3]

Neya - I have been thinking the same thing about the potential for IDENTITY THEFT! I'm just out there on faith and thinking positive that the process will shield us from that awful situation.

YYB - When is enough really enough information, I make way way over the 125% but I elected to add one asset to the affidavit of support. I guess just for kicks. LOL!

Edited August 10, 2006 by Uling

[rebeccajo 14]

Here's my take on the affidavit of support.

I liken it to a mortgage application, which is done for the purpose of making the largest purchase most will ever make. An important life event.

The affidavit of support (on VJ) is done for the purpose of bringing a loved one to America. An important life event.

Sooo.... I kinda think that even if one earns well above the poverty limits, it can't hurt to show a few other assets that show one to be financially responsible.

Insofar as identity theft and that goes....well I figure it's just one of those times I'm going to disclose personal info because the potential gain is worth more to me than the risk level.

I used to write mortgage loans. When a buyer was 'well qualified' for the mortgage (earned plenty of money to meet the debt ratios) we didn't stop with that just because technically we could. We showed their savings balance, value of cars, etc. on the FNMA application. We didn't go into as much detail as we would with a buyer who was closer to the ratios, and we didn't ask for loads of proof. But we still did it to show them to be good money managers. When I was underwriting loans, I was likewise satisfied with less asset proof with a well-qualified buyer, but it gave me a larger comfort factor when approving the loan to see at least some proof of assets.

[Neya 0]

Insofar as identity theft and that goes....well I figure it's just one of those times I'm going to disclose personal info because the potential gain is worth more to me than the risk level.

Well I agree with you on this point. So thus far I've just said a prayer and signed and photo-copied etc..

My thing with my mortgage is I just bought my house a couple of years ago so the bank owns more of it than me...I have some equity of course but my mortgage is owned at a bank in a different state. So I was hoping to avoid contacting them. Oh well ... Thanks for the clarification... it really makes sense now.

[YnaYeBa0808 0]

thanks queen becca! youre input makes alot of sense. i have papers to support my claim for my place's current value. it is an under estimation since the loan people wanted to have a conservative appraisal but thankfully i do have equity. im thinking that perhaps this can also show (if you have equity) that worse comes to worse, you will have a back up plan...

okay so im going to submit the form as is.

second question, just a follow up. i was under the impression that affidavit of support is good for one year? am i wrong in this assumption? some of the statements from the banks i got were dated as early as feb 2006. do you think i should request for a new one from the banks? or will this suffice? i was planning to print out monthly statements as well as a more updated basis for consular officer.

thanks you guys.

[sunandmoon 450]

i am just going to use my income to meet the fiancial requirement since it's more than enough. the CO will probably just look at tax returns and w-2's to see if meet fiancial requirements. they probably don't even look at assets unless income is not enough. i also going to print out a couple of my most recent bank statements and have a letter from my employer. the i-134 isn't binding. they'll probably look at our i-864 more closely when AOS. that one is binding.

[rebeccajo 14]

Let me add...I should have said this earlier....

I think it depends somewhat on the consulate as to the depth of info you reveal.

London tends to barely glance at the I-134 if the income levels are met.

I'm not sure that would be the case at a more stringent consulate, such as Manila.

Take that into account when compiling your affidavit.

[sunandmoon 450]

Let me add...I should have said this earlier....

I think it depends somewhat on the consulate as to the depth of info you reveal.

London tends to barely glance at the I-134 if the income levels are met.

I'm not sure that would be the case at a more stringent consulate, such as Manila.

Take that into account when compiling your affidavit.

i could be wrong, but i've read similar things about Manila on the income requirement. i heard they're really picky when it comes to co-sponsers. they are more stringent when it comes to determining that the relationship is genuine.

Edited August 10, 2006 by roymcn3rd

[Yodrak 7]

rebeccajo,

Just curious about something - when you used to write mortgage loans, what did you think of applicants who modified the questions and provided information a bit different from what was asked for (as you suggested that YnaYeBa do with the I-134)?

Yodrak

....

I used to write mortgage loans. ....