Using our assets when the sponsor is unemployed

[4cats 2]

My husband just got unemployed while we are filing for Adjustment of Status, but, we have assets that exceed 60k. Which are the best assets to use as proof of funds for support To make the immigration approve our funds? I know we need to have at least 60k. We want to avoid the need of a co-sponsor.

Our household size is 2,

We have:

• a house that is almost paid of (150K in equity, less than 2 years to go)
• 3 cars and one motorcycle all paid of (not sure of value),
• stocks (60k)
• metals (that I'm not sure of the value, I think is around 40k, and I don't know how to prove their value to the immigration either).

We need to declare all our assets? If not which ones are the best as proof of funds?

Thank you very much for your time.

[KayDeeCee 4,893]

Assets are optional, so never need to declare any. If you need to use them, you can list whichever ones you choose. However, if using only assets, then you may wish to list as many as you possibly can. You need proof of ownership and net value. Property needs an appraisal as well. Check the instructions for details on using assets.

~ Moved from Tax & Finances During US Immigration to AOS from Work, Student & Tourist Visas- topic is AOS and I-864 ~

Edited June 15, 2016 by KayDeeCee

[4cats 2]

Assets are optional, so never need to declare any. If you need to use them, you can list whichever ones you choose. However, if using only assets, then you may wish to list any many as you possibly can. You need proof of ownership and net value. Property needs an appraisal as well. Check the instructions for details on using assets.

~ Moved from Tax & Finances During US Immigration to AOS from Work, Student & Tourist Visas- topic is AOS and I-864 ~

Thank you! Muchas Gracias!!!

As he is unemployed we'll not be able to use his salary or benefits because he doesn't have any. That is why we will just be able to use our assets as proof of funds for support.

Once more muchas gracias por prontamente contestarme.

[4cats 2]

Assets are optional, so never need to declare any. If you need to use them, you can list whichever ones you choose. However, if using only assets, then you may wish to list as many as you possibly can. You need proof of ownership and net value. Property needs an appraisal as well. Check the instructions for details on using assets.

~ Moved from Tax & Finances During US Immigration to AOS from Work, Student & Tourist Visas- topic is AOS and I-864 ~

Me again,

I need to file the appraisal with my forms? Or I can get this proof of appraisal ready for the interview?

Thank you once more.

[Villanelle 4,122]

Using assets for the 864 can be difficult and not everyone qualifies. There are specific rules they use to determine if it (the asset you claim) will be allowed. Its not just add up things you have that total 60K.

So for your home- if its your primary residence then forget using it. It wont be allowed. Its considered a hardship to lose your home.

3 cars and 1 bike- Perhaps they will allow 1 of the cars since you are going to be 2 drivers and will each "need" a car/ This Im not sure of because no one really tries to use cars as assets unless they have a car collection of antiques or race cars or something like that. Anyway if you want to try to use the car you would need proof of value like kelly blue book plus proof of ownership.

Stocks- this is commonly used and sometimes allowed and sometimes not. Is it part of a retirement plan? Because sometimes they disallow that as its a hardship. If not then you need proof of ownership, current value etc. Depending on the value they can decide it is not liquid enough OR the value is unstable.

Metals-- Im going to assume its similar to stocks you should have some kind of proof of ownership and value.

You would send everything in with the 864 or RFE. If its an RFE you wont get another chance if denied. If its the initial AOS you will get an RFE.

[4cats 2]

Hi Damara,

Thank you for taking your time to answer my questions. We are in a difficult time right now, we were with everything almost ready to be filed we are just waiting for the last year tax transcript so we could send our packages to the immigration when my husband lost his job, we can not afford to wait any longer because I need to work to help with our expenses. So we are in a bad place right now. And I'm looking for what we can do and the best way to do it, to avoid been denied.

• House: We just have one home, so, as I understand you correctly, it doesn't count. Which is bad. But we will appraise it anyway, maybe they accept. This what we hope. In my country we use to say that hope is the last thing to die. So I will keep hoping and doing my best to make this happen.

• Cars: we have proof of ownership of all of them. And get a Kelly blue book will not be that difficult.
• Stocks: I just confirmed with my husband that 20k are stocks nd 40k are related to retirement plans as such as 401k. All of our stocks we have everything to prove ownership and current value. Because we receive reports of it all the time and we can easily access to all this information if is necessary.
• Medals: this will be the hardest one to prove value and ownership, but, I'm really hoping they will accept anyway.

Once more, thank you your response was, by fare, the one that helped me the most.

There are so many questions and my nature that want everything to be as perfect as possible so the denial will not be our answer.

God bless you!

Using assets for the 864 can be difficult and not everyone qualifies. There are specific rules they use to determine if it (the asset you claim) will be allowed. Its not just add up things you have that total 60K.

So for your home- if its your primary residence then forget using it. It wont be allowed. Its considered a hardship to lose your home.

3 cars and 1 bike- Perhaps they will allow 1 of the cars since you are going to be 2 drivers and will each "need" a car/ This Im not sure of because no one really tries to use cars as assets unless they have a car collection of antiques or race cars or something like that. Anyway if you want to try to use the car you would need proof of value like kelly blue book plus proof of ownership.

Stocks- this is commonly used and sometimes allowed and sometimes not. Is it part of a retirement plan? Because sometimes they disallow that as its a hardship. If not then you need proof of ownership, current value etc. Depending on the value they can decide it is not liquid enough OR the value is unstable.

Metals-- Im going to assume its similar to stocks you should have some kind of proof of ownership and value.

You would send everything in with the 864 or RFE. If its an RFE you wont get another chance if denied. If its the initial AOS you will get an RFE.

[KayDeeCee 4,893]

Yes, you need to send the appraisal along with the I-864, and I would list it anyway since the I-864 instructions state you may list the value of your home. Best to list all the assets you have when trying to get it accepted on assets alone. You can list all vehicles except one that works, as stated in the instructions. You need to show that you own all the vehicles and are listing all but one of them.

As far as I have seen, the USCIS adheres to the I-864 instructions when adjudicating for AOS far better than the NVC and COs for a spousal visa.

Page 8 and 9 of the instructions >

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.

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.

[4cats 2]

Thank you KayDeeCee your insturctions were very helpful as well. I will used all these information to guide me with my AOS situation!

Have a Blessed day!

Yes, you need to send the appraisal along with the I-864, and I would list it anyway since the I-864 instructions state you may list the value of your home. Best to list all the assets you have when trying to get it accepted on assets alone. You can list all vehicles except one that works, as stated in the instructions. You need to show that you own all the vehicles and are listing all but one of them.

As far as I have seen, the USCIS adheres to the I-864 instructions when adjudicating for AOS far better than the NVC and COs for a spousal visa.

Page 8 and 9 of the instructions >

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.

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.