LondonLondon

Hi,

My husband went to his interview at the Embassy in London today. He was going to write up his experience but he is too grumpy at the moment to do it, the reason being that he came out with his visa application suspended because on the I-864 they would not let us use our house as an asset "due to the current market". Anyone else had this problem?

We are hoping not to have to use a joint-sponsor so we are exploring other options. I have just been offered a job in NYC, making much more than the poverty threshold guidelines, but it doesn't start until January. Am I right in thinking that I can't use future income as evidence? I will have a contract stating salary and start date etc.


Thanks!

Noorah101

Wow, another poster JUST had the same problem. Their land/property was unacceptable on their I-864 at the IR-1 interview. Here is the thread: http://britishexpats.com/forum/showthread.php?t=572088

You are correct, future income cannot be used.

Looks like your two options would be: 1) find a joint sponsor; or 2) USC comes to the USA ahead of time to secure the job and get a few paychecks to include with the I-864.

Rene

LondonLondon

Thanks Rene. I saw that thread. Never imagined we wouldn't be able to use our property. As I type, my husband is contacting my uncle to ask him to be a joint-sponsor. After everything, we think it will be the easiest option.

Folinskyinla

Hi:

Do you have a full appraisal of the home? One that includes RECENT sales of comparable properties. What is your "equity." For example, I've owned my house for many years -- even if I sold for HALF of the appraised value, I'd have more than enough money.

lansbury

Did they say a bit more than that, for example they are not accepting property as an asset full stop. Or was the equity value in your house close to the amount required for the visa and they are wanting a safety cushion in the current declining market?

I ask because it may be of help to others considering using their UK house as the asset to get a visa and give them a chance to make other arrangements.

I wish you good luck in over coming this set back hope it doesn't delay you for too long.

Noorah101

Someone posted on another thread that you can't use your primary residence as an on the I-864, is the true? I thought you could, as long as the equity in it was high enough to count towards what you need. Your primary residence can be liquidated within a year, so why wouldn't it count?

Rene

lansbury

That was me and I'll admit it was from memory but I am sure that is what I discovered when we did our visa. I will admit I'm not sure where I saw it but think it was in the instructions about what could be used as an asset which came from the Embassy with packet 3.

The thing was if I have remembered correctly it was your primary US residence. There was nothing to stop you using your UK residence, we did, and then taking that money to the US and buying a house with it. We in fact paid off our US mortgage with that money.

It isn't logical which is what struck me at the time and why I think I have remember it correctly. But I stand to be corrected it was Sept 2006 we did ours so memory plays tricks. But in the thread I made the comment the OP did say it was something the ConOff raised as a reason for not granting the visa.

LondonLondon

Hi guys,


The equity in our house is more than £150K so we would have had more than enough. We did have a proper appraisal from an estate agents but my husband said they didn't even want to look at it; they had already decided that because of the housing market at the moment, they wouldn't even consider it so I guess that they could use this excuse for anyone.

Luckily, we do have the option of using a joint sponsor and we have just arranged this. I will get my husbnad to write up what happened at the embassy as he will be able to go in to more detail (I stayed outside in the rain for over 4 hours..... ok, I lie, I managed to do a bit of shopping while I was waiting!)

Btw, just for information, even though the visa application is "suspended" at the moment, my husband isn't required to go back to the embassy; he just has to get together the relevant paperwork, call a number and arrange for a courier to pick it up.

Rete

From what you quoted in the OP, it appears to be something that is new to the I-864 and the US Consulate. The "due to the current market" clearly indicates that the USC understands that real estate is either now at a standstill or that appraised houses are not sold quickly and at the appraised value. Obviously if you had sold the house previously and had the money in the bank, it would not have an objection to the liquidated assets.

BritishGuy36

Well you used to be able to (I did just a few short months ago). I do know that you can't use your primary vehicle for the I-864. One would hope that they are not one and the same.

It's madness that someone with over $200k in equity can't use that to satisfy a less than $60k requirement.....jobsworths....

lansbury

If you look at my posting above I said the primary US residence couldn't be used, you can (or could) use the UK one.

When we got our packet 3 from the London Embassy I'm sure there was a separate page explaining assets and that the line - Only assets that can be converted into cash within one year and without considerable hardship or financial loss to the owner may be included - meant they did not accept your primary US residence as an asset. But like many things my memory could be failing with age.

Rete

One thing to remember is they can and do change the rules at will.

Because of downturn in the economy and real estate both in the US and in the UK, it would not surprise me that this is the new directive. This is how we find about changes, through the experiences of others.

jeffreyhy

Agreed. Real estate is not so liquid these days and there can be a significant trade-off between liquidity and cash value. The types of documents that used to be acceptable for establishing value may not be valid anymore - just ask the entities that are holding the securitized mortgages. A recent appraisal that is based on making a quick sale might work, if there is significant equity in the property so that the appraisal show good value in excess of the mortgage amount.

Meanwhile, who wants to buy some stock in shares of real estate mutual funds? Prices are low and going - where? Meeting the public charge requirements of the law requires a degree of certainty, not speculation.

Regards,
JEff

Folinskyinla

Hi:

Assuming a British Estate Agent is the equivalent of a US Real Estate Agent, that is not the type of "appraisal" I am talking about. Real Estate Agents just love to give out sheets with "comps" on them -- they are worth the paper they are printed on.

A formal appraisal is something you would give to the Bank in applying for a mortgage, or a summary of the testimony that a qualified appraiser would give in COURT. This is quite different from the stuff you get from the sales agent.

I know that I've used appreciated property for I-864 purposes in Immigration Court adjustments -- and I get that formal appraisal and have the clients PAY for one.

LondonLondon2USA

Yes it is myself who sat at the US Embassy in London for 4 1/2 hours, to receive a 5 minute interview. I will type up a thorough post on the whole experience but I thought I'd cover this topic.

The Consular Officer looked through the I-864 and did not ask any questions about assets. He told me due to the current credit crisis, I could not use our house as an asset. The assets have to be liquid assets. He had already started filling out the blue form, with what was required and gave me no chance to explain my position. I must say that you treat the official with kid gloves as it is probably not wise to start arguing. How did he know whether I had exchanged contracts, sold my house, or got an offer? He didn't ask and had made his decision.

My options were explained to me and these were:

1. Send in proof that my wife has a job in the States and can prove income.

2. Get a joint sponsor.

Fortunately we have access to a joint sponsor and this will be sorted this week. All I have to do is call the courier number on the form and they will collect the paperwork with my passport. I don't have to return to the Embassy!!!!!!!!!! I do agree with BritishGuy when he uses the word 'Jobsworth'. It was going wrong from the start when my ticket number was 5013 and I was called to window 13.

I really would think hard if you are using assets and make sure you have sold your house. I just wish I'd got a joint sponsor lined up as backup, as I would not have to wait another week or so.

Good luck to those of you waiting for your interview. Take a magazine and prepare to be bored!!