May i be sponsor without income?

[N-o-l-a 7,168]

3 hours ago, littlemeli said:

i’m not thinking to pay extra bucks for appraisal..just going to add property tax bill which show assessed value, i guess it will be fine

 

 

 

Let us know how that works out for you.  Property tax bills are not usually wholly reflective of the actual potential sales price of a property.  In some locales they are just based on square footage, in others they take property features into account.

[Michael2017 368]

7 hours ago, littlemeli said:

i’m not thinking to pay extra bucks for appraisal..just going to add property tax bill which show assessed value, i guess it will be fine

 

 

I think this will not be sufficient, but I read that valuation of screenshots of zillow, redfin etc. have worked. While this is also not an appraisal and will depend on the IO`s good will, it will add value to any property tax estimation. There are "desktop" appraisals available in most states that are just $150. Especially for apartments, tract homes  often valuation can be made "from desktop".

[Chris Duffy 1,257]

14 hours ago, Damara said:

I dont think the people posting about not using the primary home as an asset are uniformed rather misinformed. It use to be that the primary residence wasnt allowed. (it specifically stated such). Recently the form/instructions were changed stating (as posted above) your home may be used etc etc.

 

I did AOS on K1 back in 2008. I used my house and cars and got approved

[Chris Duffy 1,257]

12 hours ago, littlemeli said:

i’m not thinking to pay extra bucks for appraisal..just going to add property tax bill which show assessed value, i guess it will be fine

 

 

That is what I used

[Jabberwocky1969 127]

Without a job, this all looks extremely suspicious. Even with zero income how do you not file a tax return? That is illegal.  The main sponsor just needs to get a job.

[littlemeli 1]

1 hour ago, Jabberwocky1969 said:

Without a job, this all looks extremely suspicious. Even with zero income how do you not file a tax return? That is illegal.  The main sponsor just needs to get a job.

my family supporting me. i got my home with their money..i don’t know if it was necessary to file tax return with zero income..we will look for joint sponsor i think it will be better

Edited December 26, 2017 by littlemeli

[Chris Duffy 1,257]

1 hour ago, Jabberwocky1969 said:

Without a job, this all looks extremely suspicious. Even with zero income how do you not file a tax return? That is illegal.  The main sponsor just needs to get a job.

Why would it look suspicious?   I took a few years off work and didn't have income for Taxes.  It's called being wise with your money

[LUAL 43]

23 hours ago, littlemeli said:

We are planing to apply AOS for my spouse.i don’t have income no tax returns..but i own a condo assesed value is 321K and money in bank account around 70K... no childen we live in FL

 

may i be sponsor for my spouse or will we need a joint sponsor? 

For what I know about regulations: You can't sponsor if your only asset is your primary resident. 

 

For what I say using common sense: Even if they told you "yes you can" how are you planning on living with what you have? I mean, my asset combined is more than what you have and I have a good monthly income and still find it difficult to raise a family.

 

Either way, please think carefully before your choice and good luck.

[littlemeli 1]

11 minutes ago, LUAL said:

For what I say using common sense: Even if they told you "yes you can" how are you planning on living with what you have? 

 

we will get rental income from overseas property.is that okay ?😉

Edited December 26, 2017 by littlemeli

[AshMarty 360]

16 hours ago, littlemeli said:

i’m not thinking to pay extra bucks for appraisal..just going to add property tax bill which show assessed value, i guess it will be fine

 

 

I only know about refinancing a home (and needing an recent appraisal for that)  which also requires you pay for an appraisal.

 

I would be a little weary of not getting an actually appraisal because you said it is a Condo and those can be a little harder to estimate a value on then a stand alone family home. It would be a risk and that is up to you if you would want to take that risk, and potentially drag on the AOS process longer.   

[geowrian 22,338]

3 hours ago, Jabberwocky1969 said:

Even with zero income how do you not file a tax return? That is illegal.

If your total income is below a certain threshold (~$4000/year if single), then you are not required to file taxes for that year. So somebody who has not worked (and has no other sources of income) does not have any such legal obligation.

[LUAL 43]

On 12/26/2017 at 9:28 AM, littlemeli said:

we will get rental income from overseas property.is that okay ?😉

Not sure

[littlemeli 1]

7 hours ago, LUAL said:

Not sure

i wonder how many people are in your household?? we are just 2 people

[florida racer 73 200]

On 12/26/2017 at 4:28 PM, littlemeli said:

we will get rental income from overseas property.is that okay ?😉

Rental property from overseas is still considered "income" and if it is over the amount specified, you will have to file a Tax Return.... I am not trying to down on you, but as I said before I think it would be wise to have a co-sponsor ready just in case. If you used your parents money to buy an expensive house then they should have no problem to co-sign for you!

[littlemeli 1]

27 minutes ago, florida racer 73 said:

 would be wise to have a co-sponsor ready just in case. If you used your parents money to buy an expensive house then they should have no problem to co-sign for you!

We are trying to find joint sponsor but you know people are so weird..is there any responsibilities being joint sponsor?? Hate asking for favors 😬😬