I-864 low income & asset substitution

[me262 0]

I plan on marrying my fiancée in the Philippines and file an I-130. My income here in the US was $10,000 for 2006. Will the US embassy in Manila accept my real estate assets as meeting my income requirements? I have no mortgage and own it free and clear with a value above $210,000. I am wondering if the US embassy in PH is stricter about accepting assets.

I will file the I-130 in July and my 2007 income will meet the requirements but will be partly capital gain income. How will capital gain income be treated if it is half the income to meet the income requirement?

Thanks,

Bill

[meauxna 15]

They may have trouble letting you use the equity as an asset if if is your primary residence. I didn't have that problem, but my situation was significantly different from what you've shared so far.

The capital gains income will not be ongoing; I can see a zealous CO discounting that right off the top (especially in Manila).

-You could increase your current income with another job/higher income

-You could use other assets (investment funds etc)

-You could get a Joint Sponsor

When using assets on my I-864 and with a sketchy recent income history and no current income, I added facts to my petition to help show how I was able to live on a lower income and documented my state's median income etc. Maybe you have a good explanation of how you are able to live on such a low income.

[alohaspirit 0]

I plan on marrying my fiancée in the Philippines and file an I-130. My income here in the US was $10,000 for 2006. Will the US embassy in Manila accept my real estate assets as meeting my income requirements? I have no mortgage and own it free and clear with a value above $210,000. I am wondering if the US embassy in PH is stricter about accepting assets.

I will file the I-130 in July and my 2007 income will meet the requirements but will be partly capital gain income. How will capital gain income be treated if it is half the income to meet the income requirement?

Thanks,

Bill

Equity in a home, for the I-864 Affidavit of Support, is hard to support and document. Just providing an appraisal to show value of an asset will not persuade the reviewer that you have the cash available to support your wife.

Capital gain income, if from sold investments, is a legitimate income source on both the tax return and for sponsorship income qualifying.

[me262 0]

So equity in a home located on real estate I own is not a valid assest to use? This is not convertable into cash soon enough for the CO there in the Philippines?

Can someone else verify that capital gains are a valid income source? I have differing opinions in this thread.

Edited March 26, 2007 by me262

[meauxna 15]

Equity in a home, for the I-864 Affidavit of Support, is hard to support and document.

Rubbish. Been there, done that, got the t-shirt and have read dozens of posts from people who have done the same.

Do you have any evidence to back up your statement?

[dims1 0]

I used my property assets because i only made 4,000.00 last year.

Assets worth 130,000(my home and property)

Called NVC and they said I could use my property tax invoices as proof of worth.

I got copy of that and deed and whatever else I cold get. NVC accepted it.

BUT.....

At interview CO told Lorna I couldn't support us on my income. Lorna then told him how my mom gives me money gifts up to 9,000 a year(from future inheiritance) I also had documnetation for that. But its non-taxiable income. And he still said I needed a co-sponsor.

Mike

Edited March 27, 2007 by dims1

[Francel 0]

I think in your case, you really have to find a co-sponsor.

Even if it should not have been asked since you're assets were satisfactory, the consul still has the final say.

Can your mom be a co-sponsor?

If not,

If you have diffficulty finding one (many are scared to be a co-sponsor)............

How about a promissory note (signed in front of a judge/lawyer) to a potential co-sponsor where you and your wife "agrees to pay in FULL the co-sponsor in the event that your wife becomes a public charge and the co-sponsor was obligated to pay the government".

I think a promissory note may make a potential co-sponsor say "yes" (that he/she could be Lorna's co-sponsor) to you.

What do you think? - Maria

I used my property assets because i only made 4,000.00 last year.

Assets worth 130,000(my home and property)

Called NVC and they said I could use my property tax invoices as proof of worth.

I got copy of that and deed and whatever else I cold get. NVC accepted it.

BUT.....

At interview CO told Lorna I couldn't support us on my income. Lorna then told him how my mom gives me money gifts up to 9,000 a year(from future inheiritance) I also had documnetation for that. But its non-taxiable income. And he still said I needed a co-sponsor.

Mike