i-130 I-130 Income Plus Assets

[DeanVan 0]

Hello All,

 

I’ve been to this site numerous times and I have read many articles and topics about immigration, however, I have a question and I hope your experience can help me.

 

I’m a US Citizen. Few months ago, I married my wife in Malaysia. I already submitted first stage of I-130 paperwork. Now I’m waiting for approval. Now I’m working on and preparing everything for phase two paperwork.

 

Now here’s my situation. I started going to school full time two years ago and haven’t worked much besides, few contracts here and there.

 

Both my parents are retired and they earn pension about 20k a year, which is pretty low. I wanted to find a sponsor at first, but I’ve read many guides and option about including assets as income.

 

So owning a house, can it be used as asset? Current value is about $160.000, and we owe $60.000, so if we sold, we would get $100.000, and $100.000 divided by 3 is about $33.000.

 

If I would submit everything like this:

 

Parents: $20.000

Assets:  $33.000

Total:    $53.000

 

Can this work?

Or this won’t work and I need a sponsor?

 

Thank you all for help and I hope I didn’t write too much.

 

Thanks,

 

Dean

[Boiler 46,372]

This is an Investment Property?

[DeanVan 0]

We currently live in the house. We bought this house 10 years ago. It’s in my and my parents name.

[Ryan H 3,834]

A primry home may be disallowed if a determination is made that having to potentially liquidate it in the event of the terms of the I-864 not being met would cause an undue hardship.

[geowrian 22,338]

A primary house may be included as an asset, but likely would not be considered a liquid asset. As stated above, if the CO believes selling or taking a lien against the house would create an undue hardship to the owners then it would not be sufficient. I emphasize the "s" in "owners" as liquidizing a secured asset (like a home) generally requires all parties to consent.

 

Long story short - the CO may accept it, but I personally would work on getting a different joint sponsor (or finding a suitable job/jobs myself).

[DeanVan 0]

Thanks all for comments and suggestions. Ryan and Geowrian, you guys provided more detail. 

 

So basically, if I wanted to use house as asset, it should be my second home and not my primary house where I currently live at?

Edited December 21, 2017 by DeanVan

[Boiler 46,372]

1 minute ago, DeanVan said:

Thanks all for comments and suggestions. Ryan and Geowrian, you guys provided more detail. 

 

So basically, if I wanted to use house as asset, it should be my second home and not my primary house where I currently live at?

Yes

[DeanVan 0]

Ok. Thanks!

[Pavel1982 104]

On 12/20/2017 at 12:43 AM, DeanVan said:

Hello All,

 

I’ve been to this site numerous times and I have read many articles and topics about immigration, however, I have a question and I hope your experience can help me.

 

I’m a US Citizen. Few months ago, I married my wife in Malaysia. I already submitted first stage of I-130 paperwork. Now I’m waiting for approval. Now I’m working on and preparing everything for phase two paperwork.

 

Now here’s my situation. I started going to school full time two years ago and haven’t worked much besides, few contracts here and there.

 

Both my parents are retired and they earn pension about 20k a year, which is pretty low. I wanted to find a sponsor at first, but I’ve read many guides and option about including assets as income.

 

So owning a house, can it be used as asset? Current value is about $160.000, and we owe $60.000, so if we sold, we would get $100.000, and $100.000 divided by 3 is about $33.000.

 

If I would submit everything like this:

 

Parents: $20.000

Assets:  $33.000

Total:    $53.000

 

Can this work?

Or this won’t work and I need a sponsor?

 

Thank you all for help and I hope I didn’t write too much.

 

Thanks,

 

Dean

Do you any money is the bank? If you have, you can also show that as assets .

As per USCIS website on how to use assets:

"You may add the cash value of your assets. This includes money in savings accounts, stocks, bonds, and property. To determine the amount of assets required to qualify, subtract your household income from the minimum income requirement (125% of the poverty level for your family size). You must prove the cash value of your assets is worth five times this difference (the amount left over)."

Edited December 22, 2017 by mrahman14