Regarding the I-864 & credit rating !

[christera22 8]

Hi all,

its me again and i had certain doubts regarding the I-864 thing.I am the USC and we are filing for my husband. Now the 3 years tax papers show my income around $16,500 as I have to show that business runs in a loss.But I am showing my current income as 24,000 adding the money from my recent tenant. As a evidence I am showing the tenant agreement paper.

My queries are :

1) What kind of agreement this tenant one has to be ? A agreement on a plo ain paper with a notary signed wd do ?

2) Do USCIS check my credit rating ? I am submiting recent 3 yrs tax papers & bank statements. Recently due to the economy and things my credit report has gone a bit bad and i was disapproved for some loans as i make minimum payments on the existing cards.I also have a house mortgage payment running. But I do make all payments done every month. I am on teachers disability pension program.

3)Wd submiting the 3 yrs form 1040 do ? and how many yrs bank statement is to be shown ?

All helps and suggestions are welcome ..... Thanks a ton

Christera

[alexpapa 4]

Hi all,

its me again and i had certain doubts regarding the I-864 thing.I am the USC and we are filing for my husband. Now the 3 years tax papers show my income around $16,500 as I have to show that business runs in a loss.But I am showing my current income as 24,000 adding the money from my recent tenant. As a evidence I am showing the tenant agreement paper.

My queries are :

1) What kind of agreement this tenant one has to be ? A agreement on a plo ain paper with a notary signed wd do ?

2) Do USCIS check my credit rating ? I am submiting recent 3 yrs tax papers & bank statements. Recently due to the economy and things my credit report has gone a bit bad and i was disapproved for some loans as i make minimum payments on the existing cards.I also have a house mortgage payment running. But I do make all payments done every month. I am on teachers disability pension program.

3)Wd submiting the 3 yrs form 1040 do ? and how many yrs bank statement is to be shown ?

All helps and suggestions are welcome ..... Thanks a ton

Christera

Do you report your rental income on your tax returns?

They don't check credit rating as far as I know.

Haven't heard of needing bank statements, I suppose they can't hurt - but not sure if they'll be read either.

[pushbrk 12,883]

Hi all,

its me again and i had certain doubts regarding the I-864 thing.I am the USC and we are filing for my husband. Now the 3 years tax papers show my income around $16,500 as I have to show that business runs in a loss.But I am showing my current income as 24,000 adding the money from my recent tenant. As a evidence I am showing the tenant agreement paper.

My queries are :

1) What kind of agreement this tenant one has to be ? A agreement on a plo ain paper with a notary signed wd do ?

2) Do USCIS check my credit rating ? I am submiting recent 3 yrs tax papers & bank statements. Recently due to the economy and things my credit report has gone a bit bad and i was disapproved for some loans as i make minimum payments on the existing cards.I also have a house mortgage payment running. But I do make all payments done every month. I am on teachers disability pension program.

3)Wd submiting the 3 yrs form 1040 do ? and how many yrs bank statement is to be shown ?

All helps and suggestions are welcome ..... Thanks a ton

Christera

Do you report your rental income on your tax returns?

They don't check credit rating as far as I know.

Haven't heard of needing bank statements, I suppose they can't hurt - but not sure if they'll be read either.

Credit rating is definitely not checked. You can only count the profit from your rental, not the full amount of the rent. It's just like your other business, gross revenue is not "income". You must subtract the expenses like any mortgage payment etc. If no mortgage, document that. If you have a mortgage you can only claim the difference between the rent and mortgage payment as "income". If you have a mortgage on the rental property and DO have positive cash flow, docuement the mortgage payment so the positive cash flow is clear.

You only need to show bank records if you are using liquid assets to offset an income shortfall.

[christera22 8]

NO i got my new renter few months earlier...... so this will be under taxed in 2008 one. I dnt know really waht to do ....... seems like even if i got this renter I am still under poverty level as my mortgage is higher than what i get as rent.

Do i have to show my mortgage thing? i thought they can see it from my 1040.

1) What kind of agreement this tenant one has to be ? A agreement on a plo ain paper with a notary signed wd do ?

2) Do they deny the whole AOS if my I-864 is not accepted or they send me a letter for more income evidence ?? wd providing a cosponsor wd suffice at that time ?

Thanks a lot !