ulgent help on I-864 form

[elus 3]

My wife federal income tax wasnt thant enough to sponsor me.Just $3800n difference.We have decided to use her own house to suppliments it.Its crystal clear that the asset would be more than enough to use.But in the instructions on the form stats that we have to prove that she is the bonafide owner of the house.Which she has already,the mortgage debt,she got that from the bank stating how much left for her to be paid.Now they also request we need a licensed appraiser to evaluate the house to know the current worth of the asset.Right now is that really needed.she know the worth of the house already and it is too expensive for the money charged by the appraiser licensed.Most of the appraisals we talked to ranges $250-$350.

Please I need your opinions on this if we can just submit the form without the appraiser licensed,or it must go along with the form.I am waiting please.IF yes what type of appraiser form do I need to get???

[JimVaPhuong 4,863]

My wife federal income tax wasnt thant enough to sponsor me.Just $3800n difference.We have decided to use her own house to suppliments it.Its crystal clear that the asset would be more than enough to use.But in the instructions on the form stats that we have to prove that she is the bonafide owner of the house.Which she has already,the mortgage debt,she got that from the bank stating how much left for her to be paid.Now they also request we need a licensed appraiser to evaluate the house to know the current worth of the asset.Right now is that really needed.she know the worth of the house already and it is too expensive for the money charged by the appraiser licensed.Most of the appraisals we talked to ranges $250-$350.

Please I need your opinions on this if we can just submit the form without the appraiser licensed,or it must go along with the form.I am waiting please.IF yes what type of appraiser form do I need to get???

The value of the home has nothing whatever to do with the amount of the mortgage. The home is worth whatever a buyer is willing to pay for it. Ask 95% of the homeowners in the US who saw their home values plummet in the past few years.

If her home has been reassessed for property tax purposes in the past year or so then USCIS might accept the tax collector's assessment of the value. I know one other person who used a tax assessment as proof of value and it wasn't questioned, but they owned the home outright with no loans or liens on it.

Otherwise, she's going to have to bite the bullet and hire a licensed appraiser.

If you submit the form and claim the home as an asset, but you don't have a value assessment from a credible and qualified third party (like a tax assessor or licensed appraiser) then USCIS will not consider the asset. Read the instructions for the I-864 carefully. She must prove she owns the home, provide an appraisal from a licensed appraiser, and evidence of any loans secured by a mortgage, trust deed, or other type of lien.

[imarockstar 0]

You received good advice - if you want to use the home as an asset, I think you are going to have to use a licensed appraisor. However, appraisors may not be getting as much work as they once were when the housing market was better, so you may be able to negotiate a better rate from the appraisor......

Good luck!

[elus 3]

You received good advice - if you want to use the home as an asset, I think you are going to have to use a licensed appraisor. However, appraisors may not be getting as much work as they once were when the housing market was better, so you may be able to negotiate a better rate from the appraisor......

Good luck!

thanks very much,also in her federal tax return she have a gross income of $55,000 and after the deductions it comes to $23,600. We are family size of 4 and the poverty level for us isn around $27,000.Do the USCIS looks at $55,000 or $23,600. We have the tax assessor for the house, can we use it in place of the licensed appraisal??Please I need your woord.

The value of the home has nothing whatever to do with the amount of the mortgage. The home is worth whatever a buyer is willing to pay for it. Ask 95% of the homeowners in the US who saw their home values plummet in the past few years.

If her home has been reassessed for property tax purposes in the past year or so then USCIS might accept the tax collector's assessment of the value. I know one other person who used a tax assessment as proof of value and it wasn't questioned, but they owned the home outright with no loans or liens on it.

Otherwise, she's going to have to bite the bullet and hire a licensed appraiser.

If you submit the form and claim the home as an asset, but you don't have a value assessment from a credible and qualified third party (like a tax assessor or licensed appraiser) then USCIS will not consider the asset. Read the instructions for the I-864 carefully. She must prove she owns the home, provide an appraisal from a licensed appraiser, and evidence of any loans secured by a mortgage, trust deed, or other type of lien.

thanks very much

[DaniG 3]

I think the number they want is Line 37 at the bottom of the first page of form 1040 ("Subtract line 36 from line 22. This is your adjusted gross income"). This is before the itemized deductions and exemptions.