Assets for I-864

[CarolineK2017 1]

I've already posted a similar question about assets. My income was below the poverty guideline for our family. My husband has a house in India that was appraised more than 3 times the difference between household income and required income according to guidelines. We were told to write a letter and submit the income and assets again, and break down the each Item # on I-864 and show that even though our income was less than what is required, the assets should have been able to cover the difference as stated in the guidelines.

 

We are trying to get some funds accumulated in one bank account to show the financial capacity to support our household. Should we get the bank statement from our joint bank account in the US showing the funds, or would it work just as well to keep the money in his bank account in India? I guess the focus of the question is whether we should transfer the money into the US or is it redundant? The savings will make up the shortfall from the income, but that was income from last year. Will we need to provide bank statements for the last year if we submit the bank statement showing available funds? Our income from this year is significantly lower that last year, but his assets (by using I-864 guidelines) should still make up the shortfall.

 

I maybe overthinking this too much, but trying to make sure we get over this hurdle without a joint sponsor. 

Thank you for any replies.

[Boiler 45,527]

You are sponsoring your Husband and he has an Investment property in India? Does he intend to sell it?

 

Property can be difficult as one of the requirements is that it has to be accessible.

[CarolineK2017 1]

4 minutes ago, Boiler said:

You are sponsoring your Husband and he has an Investment property in India? Does he intend to sell it?

 

Property can be difficult as one of the requirements is that it has to be accessible.

Yes, I am sponsoring my husband. He does have a property in India. The property has been evaluated by a civil engineer within the last 4 months. We thought the property evaluation would be a support towards accessibility of the property and showing intending immigrant's assets. 

 

He has one house in his name, and his family has another house in his mom's name. He does not intend to sell, but could if needed. Would it be beneficial to show that if the property in his name needed to be sold that it would not cause financial hardship to his family?

 

 

[Boiler 45,527]

UK and India generally share Professional terms and a Civil Engineer would not be someone who would do property valuations.

 

No harm trying, I would have a joint sponsor to hand.

[CarolineK2017 1]

12 hours ago, Boiler said:

UK and India generally share Professional terms and a Civil Engineer would not be someone who would do property valuations.

 

No harm trying, I would have a joint sponsor to hand.

 

In India, a (chartered engineer who is certified) civil engineer from the city that is qualified to evaluate the properties.

 

We are trying not to get a joint sponsor.

 

My husband has been able to get over $44,000 put into his savings account in India. Right now, his family does help us each month, so how do we show that this is a reliable source - just by showing a year's worth of bank statements? 

 

I'm still thinking that the assets should be enough per these guidelines. It doesn't say anywhere that the asset has to be in the USA. Since we are going to write a formal letter with our reply, we are going to include these guidelines showing that the asset should be enough, and also include that this property was willed to my husband when his grandmother died, and that this is not his family's primary residence.

 

Quote

Part 7. Use of Assets to Supplement Income (Optional) Only complete Part 7. if you need to use the value of assets to meet the income requirements. If your Current Annual Household Income (indicated on Part 6., Item Number 15.) is equal to or more than needed to meet the income requirement as shown by the current Federal Poverty Guidelines (Form I-864P) for your household size (indicated on Part 5., Item Number 8.), you do not need to complete this Part. If your total household income does not meet the requirement, you may submit evidence of the value of your assets, the sponsored immigrant’s assets, and/or assets of a household member that can be used, if necessary, for the support of the intending immigrant(s). The value of assets of all of these persons may be combined in order to meet the necessary requirement. 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. Form I-864 Instructions 07/02/15 N Page 9 of 16 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. Item Numbers 1. - 4. Assets. To use your own assets, you must complete Part 7., Item Numbers 1. - 4. and submit corresponding evidence with this affidavit. Supporting evidence must be attached to establish location, ownership, date of acquisition, and value of any real estate holding. Item Number 5.a. - 5.b. Household Member’s Assets. To use the assets of a relative (spouse, adult son or daughter, parent, or sibling), the relative must reside with you and have completed Form I-864A with accompanying evidence of assets. Form I-864A and accompanying evidence of assets is submitted with Form I-864. You may use the assets of more than one relative who resides with you so long as you submit a complete Form I-864A with evidence of assets for each such relative. Item Numbers 6. - 9. Assets of the Intending Immigrant. You may use the assets of the intending immigrant regardless of where he or she resides. The intending immigrant must provide evidence of such assets with this affidavit. Add together Item Numbers 6. - 8. and enter the total number in Item Number 9. Form I-864A is not required to document the intending immigrant’s assets. Item Number 10. Total Value of Assets. In order to qualify based on the value of your assets, the total value of your assets must equal at least five times the difference between your total household income and the current Federal Poverty Guidelines for your household size, however, if you are a U.S. citizen and you are sponsoring your spouse or minor child, the total value of your assets must only be equal to at least three times the difference. If the intending immigrant is a foreign national orphan who will be adopted in the United States after he or she acquires permanent residence, and who will, as a result, acquire citizenship under section 320 of the INA, the total value of your assets need only equal the difference. Example of How to Use Assets: If you are petitioning for a parent and the poverty line for your household size is $22,062 and your current income is $18,062, the difference between your current income and the poverty line is $4,000. In order for assets to help you qualify, the combination of your assets, plus the assets of any household member who is signing Form I-864A, plus any available assets of the sponsored immigrant, would have to equal five times this difference (5 x $4,000). In this case, you would meet the income requirements if the net value of the assets equaled at least $20,000.

 

[Boiler 45,527]

Let us know how it goes.

[CarolineK2017 1]

Thank you! 

 

Should we resubmit the same I-864 or should fill out another one?