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Can a co-sponsore use assets instead of regular income?

By discoverusa in Adjustment of Status (Green Card) from K1 and K3 Family Based Visas

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discoverusa Community Regular

discoverusa   267

Posted
Filed: Citizen (apr) Timeline
Posted

This is a question for a friend. He is adjusting form K1 and they jus got RFE and they will need a co-sponsor. His MIL can be a co-sponsor but she no longer works. She does have assets like cars and house. Can that be used and how?

Appreciate any help.

Thank you.

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Jojo92122 Experienced

Jojo92122   1,924

Posted
Filed: Timeline
Posted

Assets can be used. Follow the directions in the I-864 on counting assets. One car can not be counted. She can use Kelley Blue Book to determine the value of her other cars. The equity in the house can be counted. She will need an appraisal from a qualified home appraiser ($300-$500) and loan documents to show the equity in the house.

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Kastrs Experienced

Kastrs   723

Posted
Filed: Citizen (pnd) Country: Pakistan
 Timeline
Posted

In general, the MIL would not be able to count the value of the car she is driving or the house in which she lives. She could count the value of additional cars she owns and additional properties she owns. In the case of property, she would only be able to count the value of her equity in the home which would be determined by deducting the amount if any owed in loans on the property from the current appraised value of the property. Also, the MIL can count the money she has in the bank.

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Married December 19, 2014

I-130 Petition sent January 14, 2015
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