Using real estate as assets - proof of no mortgage?

[noront 6]

I'm the immigrant and my US citizen spouse is the sponsor. We need to use a joint sponsor and that joint sponsor -- my retired father-in-law - is using the value of his home as proof of assets. We’ve had the appraisal done.

 

My in-laws own their home outright. We are using a lawyer and I asked him about whether we need to prove that there is no mortgage or liens on the property. He wasn’t sure and said to get the appraiser to note it on the appraisal report and also to try to get the deed to the house.

 

We live across country from my in-laws and they are not very technologically or financially literate. (IE they don’t know how to use a computer or a credit card.) They went and got what was supposed to be the deed to the house, but it looks like a transfer of title from when they originally purchased the home - It showed the name of the previous owner and of my in-laws and the date of sale. But there is no mention of a mortgage.

 

I tried to look around online but couldn’t find any online service in their count that had documents that might show me any kind of mortgage discharge documents or land title information. They live in an incredibly rural area. 

 

We’ve sent in the application because the lawyer wanted to get it in before the public charge rule is formally reinstated by USCIS.  But I’m worried about this issue.

 

I guess my only option is to hire a title company to track down this information for me and then wait and see if we get RFE’d for it? Or could I get the title and then just send it in on its own? Application has been received at lockbox this week but that's it so far.

 

Anyone with experience with this?

[Boiler 45,966]

This is an investment property and not primary residence?

[noront 6]

• 1 minute ago, Boiler said:

  This is an investment property and not primary residence?

  It's my in-laws primary residence, not ours. They do own other properties but chose to use their primary residence for the joint sponsorship.

[Boiler 45,966]

Unlikely to be accepted.

[noront 6]

3 minutes ago, Boiler said:

Unlikely to be accepted.

Can you elaborate? Our lawyer advised us to do it this way and said he has done it before with a joint sponsor using the value of their home. He didn't see any issue with using their primary residence. They also sent in their tax returns and annual income.

 

Anyway, my question was about documents related to mortgages.

[Boiler 45,966]

See bottom of page 12 of the notes, sort of surprised the lawyer has not mentioned this. Pretty basic stuff.

[Lucky2Lucky 2,526]

The bank that the mortgage was from should be able to provide a letter that the mortgage was Paid off and in laws own the house. They should have received this document when they paid off the house but If they can’t find it they should contact the bank.

[noront 6]

Bottom of page 12 of notes:

You may use assets to supplement income if the consular or immigration officer is convinced that the monetary value of the asset could reasonably be made available to support the sponsored immigrant and converted to cash within one year without undue harm to the sponsor or his or her family members. You may not include an automobile unless you show that you own at least one working automobile that you have not included.

I don’t quite understand why you would keep replying with unhelpful comments. 

8 hours ago, Boiler said:

See bottom of page 12 of the notes, sort of surprised the lawyer has not mentioned this. Pretty basic stuff.

 

[Boiler 45,966]

1 hour ago, noront said:

Bottom of page 12 of notes:

You may use assets to supplement income if the consular or immigration officer is convinced that the monetary value of the asset could reasonably be made available to support the sponsored immigrant and converted to cash within one year without undue harm to the sponsor or his or her family members. You may not include an automobile unless you show that you own at least one working automobile that you have not included.

I don’t quite understand why you would keep replying with unhelpful comments. 

 

Perhaps its me but having to sell your home sort of sounds like it could fall into that category.

[noront 6]

48 minutes ago, Boiler said:

Perhaps its me but having to sell your home sort of sounds like it could fall into that category.

It is odd that they would specify you can’t use your car as collateral unless you have another vehicle, but you can use your home if you don’t have another one.
 

I suspect it’s because you can refinance your home, or use it as collateral for a home equity line of credit. So removing equity from the home to pay the government does not necessarily require you to sell the home, unlike a car.

 

But if USCIS raises it as an issue, my in-laws do own other properties.

[JeanneAdil 6,610]

12 hours ago, noront said:

Can you elaborate? Our lawyer advised us to do it this way and said he has done it before with a joint sponsor using the value of their home. He didn't see any issue with using their primary residence. They also sent in their tax returns and annual income.

 

Anyway, my question was about documents related to mortgages.

to prove no morgtage,  very simple,  need copy of homeowner's insurance as it would say lienholder if there was one

 

that aside ,  as has been mentioned ,  not likely to be accepted as it is their primary residence

[noront 6]

22 minutes ago, JeanneAdil said:

to prove no morgtage,  very simple,  need copy of homeowner's insurance as it would say lienholder if there was one

 

that aside ,  as has been mentioned ,  not likely to be accepted as it is their primary residence

Here is what the instructions for the current I-864 state (dated 10/15/19) Page 9 under:

 

Part 7 Use of Assets to Supplement Income (Optional) 

 

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.

 

I'm not an expert on this of course, and I'll update here if we get denied because they used their primary residence. But I think that may be an outdated rule from what I've read. There is nothing in the instructions that states that you cannot use a primary residence, or that the real estate must be an investment property. It specifically states "your home," which implies it's a primary residence. 

 

People can use the equity in their homes to get a home equity loan. They don't have to sell your home to do so, which is probably why the instructions state that you are allowed to use the value of your home. 

 

Anyway, I'll update here whenever I get a response from USCIS one way or another and then folks can know for the future. 

 

Also, thanks for the suggestions about the home insurance and getting documentation from the bank. Those are good ideas that I had not considered.

[JeanneAdil 6,610]

16 minutes ago, noront said:

 

Also, thanks for the suggestions about the home insurance and getting documentation from the bank. Those are good ideas that I had not considered.

not the bank the profile page of the homeowner's insurance policy where the lienholder(s) are listed 

bank would no nothing about other possible lienholder's but they have to be listed on insurance papers

[noront 6]

9 minutes ago, JeanneAdil said:

not the bank the profile page of the homeowner's insurance policy where the lienholder(s) are listed 

bank would no nothing about other possible lienholder's but they have to be listed on insurance papers

Sorry -- the bank reference was because an earlier poster had suggested it. 

 

One question about the insurance policy is, how would it prove that you did not take out an insurance policy and then subsequently place a new mortgage or lien on the home? It's definitely worth checking into though. My in-laws are friends with their insurance adjuster, so he could probably help them out.

[SalishSea 18,102]

OP, the reason USCIS is unlikely to accept your joint sponsor's primary residence in lieu of income is because it would be a hardship (and very unlikely) to expect someone to sell their home, thus becoming homeless, to support an immigrant.

 

But, go for it and see what they say.  No need to dump on the 'unhelpful' folks here who have been on VJ for years and seen this exact scenario.