question re assests value for affidavidt of support
Mar 18th 2001, 2:59 pm
#16
Guest
Posts: n/a
I don't want to argue. I see no point. I got my information from the mortgage
company.
Ah, but if they DID borrow the entire cost of the home, which most do, the equity is
only what they have paid in, minus interest charges.
The fact is that you own more of your house than you have mortgaged. This is NOT the
case I am talking about. Of the $45K that you have mortgaged, only $10K is considered
equity. In your case, you could prove you owned more in the house than just what you
have put into the mortgage.
If you bought the house and paid some cash, which it sounds like you did, you also
own that part of the house as well. Not rocket science here. No, I don't need to go
back and take more math courses. You just need to look at this from the point of view
I was. You can't use your special situation to become the rule, it is the exception.
Most people only "own" the part of the house that they have paid for. This is called
equity. Your equity includes what you have put down in cash and what you have paid
in. You have more equity than $10K and even I can see that. Hey, if you don't want to
believe me, I will just stop trying to explain. I am only trying to explain so you
don't appear dumb and tell people to get their homes appraised and use the value as
their assets. This is because it SIMPLY is not the case.
Your equity does not just include the amount you have paid on your mortgage in your
case Alvena. It also includes the cash you paid when you bought the house. But you
don't own the whole house and cannot claim you do. Period.
End of discussion, because if you can't see my point... I have explained it 6 ways
til Sunday. Here it is Sunday and I am still explaining it.
It is not a hard concept. You don't own more of your house than what you own. You
can't claim the part you don't own as an asset. Period. I called a couple mortgage
companies on Friday to be sure.
--
Jonathan _/ _/ _/ _/ K-1 Fiance Visa Immigration through to Adjustment of Status
http://clik.to/getk1 K-1 & Adjustment of Status Links Page
http://clik.to/K1andAOSLinks Newsgroup FAQ http://www.k1faq.com Arnaldo and Alvena's
Fiance Visa Page http://www2.apex.net/users/thehydes/ Immigration and Naturalization
Service http://www.ins.usdoj.gov {I am not a lawyer and this is not legal advice. For
reliable advice, please consult with a professional immigration attorney.}
[usenetquote2]> > > Keep in mind that what you have in the house is the only asset. They[/usenetquote2]
>
[usenetquote2]> > > count the value of the house when you bought it or now. They count[/usenetquote2]
how
>
[usenetquote2]> > > cash you actually have in the mortgage. Not including interest. This[/usenetquote2]
>
[usenetquote2]> > > your EQUITY. The value of the house is pointless.[/usenetquote2]
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
company.
Ah, but if they DID borrow the entire cost of the home, which most do, the equity is
only what they have paid in, minus interest charges.
The fact is that you own more of your house than you have mortgaged. This is NOT the
case I am talking about. Of the $45K that you have mortgaged, only $10K is considered
equity. In your case, you could prove you owned more in the house than just what you
have put into the mortgage.
If you bought the house and paid some cash, which it sounds like you did, you also
own that part of the house as well. Not rocket science here. No, I don't need to go
back and take more math courses. You just need to look at this from the point of view
I was. You can't use your special situation to become the rule, it is the exception.
Most people only "own" the part of the house that they have paid for. This is called
equity. Your equity includes what you have put down in cash and what you have paid
in. You have more equity than $10K and even I can see that. Hey, if you don't want to
believe me, I will just stop trying to explain. I am only trying to explain so you
don't appear dumb and tell people to get their homes appraised and use the value as
their assets. This is because it SIMPLY is not the case.
Your equity does not just include the amount you have paid on your mortgage in your
case Alvena. It also includes the cash you paid when you bought the house. But you
don't own the whole house and cannot claim you do. Period.
End of discussion, because if you can't see my point... I have explained it 6 ways
til Sunday. Here it is Sunday and I am still explaining it.
It is not a hard concept. You don't own more of your house than what you own. You
can't claim the part you don't own as an asset. Period. I called a couple mortgage
companies on Friday to be sure.
--
Jonathan _/ _/ _/ _/ K-1 Fiance Visa Immigration through to Adjustment of Status
http://clik.to/getk1 K-1 & Adjustment of Status Links Page
http://clik.to/K1andAOSLinks Newsgroup FAQ http://www.k1faq.com Arnaldo and Alvena's
Fiance Visa Page http://www2.apex.net/users/thehydes/ Immigration and Naturalization
Service http://www.ins.usdoj.gov {I am not a lawyer and this is not legal advice. For
reliable advice, please consult with a professional immigration attorney.}
[usenetquote2]> > > Keep in mind that what you have in the house is the only asset. They[/usenetquote2]
>
[usenetquote2]> > > count the value of the house when you bought it or now. They count[/usenetquote2]
how
>
[usenetquote2]> > > cash you actually have in the mortgage. Not including interest. This[/usenetquote2]
>
[usenetquote2]> > > your EQUITY. The value of the house is pointless.[/usenetquote2]
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
Mar 18th 2001, 3:03 pm
#17
Guest
Posts: n/a
See below for my comments...
--
Jonathan _/ _/ _/ _/ K-1 Fiance Visa Immigration through to Adjustment of Status
http://clik.to/getk1 K-1 & Adjustment of Status Links Page
http://clik.to/K1andAOSLinks Newsgroup FAQ http://www.k1faq.com Arnaldo and Alvena's
Fiance Visa Page http://www2.apex.net/users/thehydes/ Immigration and Naturalization
Service http://www.ins.usdoj.gov {I am not a lawyer and this is not legal advice. For
reliable advice, please consult with a professional immigration attorney.}
>
>
[usenetquote2]> > Because a house is not like stocks. With the stocks, you own the whole share. Any[/usenetquote2]
[usenetquote2]> > appreciation is yours. However, with a house, you don't own[/usenetquote2]
the
[usenetquote2]> > whole house usually, but a mortgage company does. Only your equity is[/usenetquote2]
what
[usenetquote2]> > you would get when you sell the house. The rest goes to pay off the mortgage.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > You MAY get more for your house than you paid for it. However, INS[/usenetquote2]
doesn't
[usenetquote2]> > ask how much you will make that way. They are only interested in[/usenetquote2]
Assets.
[usenetquote2]> > Equity is your only asset in a house. What you COULD possibly make off[/usenetquote2]
a
[usenetquote2]> > sale is not even in the picture. INS is not out to guess. They want to know how[/usenetquote2]
[usenetquote2]> > much of the property you are claiming as asset you own.[/usenetquote2]
>
>
less
>
originally.
>
>
anyone
>
and look
>
INS is only interested in CASH ASSETS that can be liquidated within 12 months or
less. They are also interested in how much your property is worth against the
mortgages or encumbrances upon it. They simply take the value and subtract the
mortgage or encumbrances to find out how much CASH ASSETS you have.
>
worth, how
>
>
show the
>
and
>
>
>
[usenetquote2]> > Your house may be worth more after time. However, your equity does not[/usenetquote2]
go
[usenetquote2]> > up based on the value of your home.[/usenetquote2]
>
>
only
>
Equity is how much you have paid off. It has nothing to do with anything else.
>
>
>
--
Jonathan _/ _/ _/ _/ K-1 Fiance Visa Immigration through to Adjustment of Status
http://clik.to/getk1 K-1 & Adjustment of Status Links Page
http://clik.to/K1andAOSLinks Newsgroup FAQ http://www.k1faq.com Arnaldo and Alvena's
Fiance Visa Page http://www2.apex.net/users/thehydes/ Immigration and Naturalization
Service http://www.ins.usdoj.gov {I am not a lawyer and this is not legal advice. For
reliable advice, please consult with a professional immigration attorney.}
>
>
[usenetquote2]> > Because a house is not like stocks. With the stocks, you own the whole share. Any[/usenetquote2]
[usenetquote2]> > appreciation is yours. However, with a house, you don't own[/usenetquote2]
the
[usenetquote2]> > whole house usually, but a mortgage company does. Only your equity is[/usenetquote2]
what
[usenetquote2]> > you would get when you sell the house. The rest goes to pay off the mortgage.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > You MAY get more for your house than you paid for it. However, INS[/usenetquote2]
doesn't
[usenetquote2]> > ask how much you will make that way. They are only interested in[/usenetquote2]
Assets.
[usenetquote2]> > Equity is your only asset in a house. What you COULD possibly make off[/usenetquote2]
a
[usenetquote2]> > sale is not even in the picture. INS is not out to guess. They want to know how[/usenetquote2]
[usenetquote2]> > much of the property you are claiming as asset you own.[/usenetquote2]
>
>
less
>
originally.
>
>
anyone
>
and look
>
INS is only interested in CASH ASSETS that can be liquidated within 12 months or
less. They are also interested in how much your property is worth against the
mortgages or encumbrances upon it. They simply take the value and subtract the
mortgage or encumbrances to find out how much CASH ASSETS you have.
>
worth, how
>
>
show the
>
and
>
>
>
[usenetquote2]> > Your house may be worth more after time. However, your equity does not[/usenetquote2]
go
[usenetquote2]> > up based on the value of your home.[/usenetquote2]
>
>
only
>
Equity is how much you have paid off. It has nothing to do with anything else.
>
>
>
Mar 18th 2001, 3:05 pm
#18
Guest
Posts: n/a
Uh, of course I am assuming that A PERSON (I never mentioned you. Who are you?) has a
mortgage. This was the whole point of the discussion. If you own your house outright,
you have no mortgage and none of this matters. You use your market value of the house
as assets.
--
Jonathan (Who also owns outright everything he owns, but not thanks to a
mother-in-law.) _/ _/ _/ _/ K-1 Fiance Visa Immigration through to Adjustment of
Status http://clik.to/getk1 K-1 & Adjustment of Status Links Page
http://clik.to/K1andAOSLinks Newsgroup FAQ http://www.k1faq.com Arnaldo and Alvena's
Fiance Visa Page http://www2.apex.net/users/thehydes/ Immigration and Naturalization
Service http://www.ins.usdoj.gov {I am not a lawyer and this is not legal advice. For
reliable advice, please consult with a professional immigration attorney.}
>
mother-in-law. We
>
>
>
>
>
>
[usenetquote2]> > Keep in mind that what you have in the house is the only asset. They[/usenetquote2]
don't
[usenetquote2]> > count the value of the house when you bought it or now. They count how[/usenetquote2]
much
[usenetquote2]> > cash you actually have in the mortgage. Not including interest. This[/usenetquote2]
is
[usenetquote2]> > your EQUITY. The value of the house is pointless.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > --[/usenetquote2]
[usenetquote2]> > Jonathan _/ _/ _/ _/ K-1 Fiance Visa Immigration through to Adjustment of Status[/usenetquote2]
[usenetquote2]> > http://clik.to/getk1 K-1 & Adjustment of Status Links Page[/usenetquote2]
[usenetquote2]> > http://clik.to/K1andAOSLinks Newsgroup FAQ http://www.k1faq.com Arnaldo and[/usenetquote2]
[usenetquote2]> > Alvena's Fiance Visa Page http://www2.apex.net/users/thehydes/ Immigration and[/usenetquote2]
[usenetquote2]> > Naturalization Service http://www.ins.usdoj.gov {I am not a lawyer and this is[/usenetquote2]
[usenetquote2]> > not legal advice. For reliable advice, please consult with a professional[/usenetquote2]
[usenetquote2]> > immigration attorney.}[/usenetquote2]
[usenetquote2]> > > Alex J wrote:[/usenetquote2]
[usenetquote2]> > > > Thanks Rita. We figured we would use the paperwork from when we[/usenetquote2]
bought
[usenetquote2]> > the[/usenetquote2]
[usenetquote2]> > > > place. Tax assessment papers are a good idea too. I guess that[/usenetquote2]
would
[usenetquote2]> > work too[/usenetquote2]
[usenetquote2]> > > > for the vehicles since we pay property tax on them in order to renew[/usenetquote2]
the
[usenetquote2]> > plates.[/usenetquote2]
[usenetquote2]> > > >[/usenetquote2]
[usenetquote2]> > > I would use the paperwork from the purchase, the tax receipts on the property,[/usenetquote2]
[usenetquote2]> > > and a copy of my homeowner's insurance which shows how much you have it insured[/usenetquote2]
[usenetquote2]> > > for. You may find that if you go through your purchase docs, you find an old[/usenetquote2]
[usenetquote2]> > > appraisal of the property in there,[/usenetquote2]
this
[usenetquote2]> > > is generally required when you float a loan.[/usenetquote2]
[usenetquote2]> > >[/usenetquote2]
[usenetquote2]> > > alvena[/usenetquote2]
mortgage. This was the whole point of the discussion. If you own your house outright,
you have no mortgage and none of this matters. You use your market value of the house
as assets.
--
Jonathan (Who also owns outright everything he owns, but not thanks to a
mother-in-law.) _/ _/ _/ _/ K-1 Fiance Visa Immigration through to Adjustment of
Status http://clik.to/getk1 K-1 & Adjustment of Status Links Page
http://clik.to/K1andAOSLinks Newsgroup FAQ http://www.k1faq.com Arnaldo and Alvena's
Fiance Visa Page http://www2.apex.net/users/thehydes/ Immigration and Naturalization
Service http://www.ins.usdoj.gov {I am not a lawyer and this is not legal advice. For
reliable advice, please consult with a professional immigration attorney.}
>
mother-in-law. We
>
>
>
>
>
>
[usenetquote2]> > Keep in mind that what you have in the house is the only asset. They[/usenetquote2]
don't
[usenetquote2]> > count the value of the house when you bought it or now. They count how[/usenetquote2]
much
[usenetquote2]> > cash you actually have in the mortgage. Not including interest. This[/usenetquote2]
is
[usenetquote2]> > your EQUITY. The value of the house is pointless.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > --[/usenetquote2]
[usenetquote2]> > Jonathan _/ _/ _/ _/ K-1 Fiance Visa Immigration through to Adjustment of Status[/usenetquote2]
[usenetquote2]> > http://clik.to/getk1 K-1 & Adjustment of Status Links Page[/usenetquote2]
[usenetquote2]> > http://clik.to/K1andAOSLinks Newsgroup FAQ http://www.k1faq.com Arnaldo and[/usenetquote2]
[usenetquote2]> > Alvena's Fiance Visa Page http://www2.apex.net/users/thehydes/ Immigration and[/usenetquote2]
[usenetquote2]> > Naturalization Service http://www.ins.usdoj.gov {I am not a lawyer and this is[/usenetquote2]
[usenetquote2]> > not legal advice. For reliable advice, please consult with a professional[/usenetquote2]
[usenetquote2]> > immigration attorney.}[/usenetquote2]
[usenetquote2]> > > Alex J wrote:[/usenetquote2]
[usenetquote2]> > > > Thanks Rita. We figured we would use the paperwork from when we[/usenetquote2]
bought
[usenetquote2]> > the[/usenetquote2]
[usenetquote2]> > > > place. Tax assessment papers are a good idea too. I guess that[/usenetquote2]
would
[usenetquote2]> > work too[/usenetquote2]
[usenetquote2]> > > > for the vehicles since we pay property tax on them in order to renew[/usenetquote2]
the
[usenetquote2]> > plates.[/usenetquote2]
[usenetquote2]> > > >[/usenetquote2]
[usenetquote2]> > > I would use the paperwork from the purchase, the tax receipts on the property,[/usenetquote2]
[usenetquote2]> > > and a copy of my homeowner's insurance which shows how much you have it insured[/usenetquote2]
[usenetquote2]> > > for. You may find that if you go through your purchase docs, you find an old[/usenetquote2]
[usenetquote2]> > > appraisal of the property in there,[/usenetquote2]
this
[usenetquote2]> > > is generally required when you float a loan.[/usenetquote2]
[usenetquote2]> > >[/usenetquote2]
[usenetquote2]> > > alvena[/usenetquote2]
Mar 18th 2001, 3:06 pm
#19
Guest
Posts: n/a
Thanks, I just got that too. Who was talking about Alex? Who is Alex?
--
Jonathan _/ _/ _/ _/ K-1 Fiance Visa Immigration through to Adjustment of Status
http://clik.to/getk1 K-1 & Adjustment of Status Links Page
http://clik.to/K1andAOSLinks Newsgroup FAQ http://www.k1faq.com Arnaldo and Alvena's
Fiance Visa Page http://www2.apex.net/users/thehydes/ Immigration and Naturalization
Service http://www.ins.usdoj.gov {I am not a lawyer and this is not legal advice. For
reliable advice, please consult with a professional immigration attorney.}
>
>
>
>
>
>
>
>
was
>
>
>
--
Jonathan _/ _/ _/ _/ K-1 Fiance Visa Immigration through to Adjustment of Status
http://clik.to/getk1 K-1 & Adjustment of Status Links Page
http://clik.to/K1andAOSLinks Newsgroup FAQ http://www.k1faq.com Arnaldo and Alvena's
Fiance Visa Page http://www2.apex.net/users/thehydes/ Immigration and Naturalization
Service http://www.ins.usdoj.gov {I am not a lawyer and this is not legal advice. For
reliable advice, please consult with a professional immigration attorney.}
>
>
>
>
>
>
>
>
was
>
>
>
Mar 18th 2001, 3:07 pm
#20
Guest
Posts: n/a
All you have to do is have it professionally appraised. Or you can go by the tax
appraiser's database, but they are usually much lower in value than that actual
value. (at least in these parts)
--
Jonathan _/ _/ _/ _/ K-1 Fiance Visa Immigration through to Adjustment of Status
http://clik.to/getk1 K-1 & Adjustment of Status Links Page
http://clik.to/K1andAOSLinks Newsgroup FAQ http://www.k1faq.com Arnaldo and Alvena's
Fiance Visa Page http://www2.apex.net/users/thehydes/ Immigration and Naturalization
Service http://www.ins.usdoj.gov {I am not a lawyer and this is not legal advice. For
reliable advice, please consult with a professional immigration attorney.}
>
asked
>
The
>
Anyway
>
>
>
asked
>
over
>
>
>
>
>
>
>
[usenetquote2]> > | Thanks Grinch - I can always count on you to be an ass.[/usenetquote2]
[usenetquote2]> > |[/usenetquote2]
[usenetquote2]> > | See the rest of you when my interview is done and I post the results[/usenetquote2]
for
[usenetquote2]> > | those who care.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > My pleasure. Actually my post was very asslike and I apologise. Jonathan[/usenetquote2]
was
[usenetquote2]> > talking generally not specifically about you.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Grinch[/usenetquote2]
appraiser's database, but they are usually much lower in value than that actual
value. (at least in these parts)
--
Jonathan _/ _/ _/ _/ K-1 Fiance Visa Immigration through to Adjustment of Status
http://clik.to/getk1 K-1 & Adjustment of Status Links Page
http://clik.to/K1andAOSLinks Newsgroup FAQ http://www.k1faq.com Arnaldo and Alvena's
Fiance Visa Page http://www2.apex.net/users/thehydes/ Immigration and Naturalization
Service http://www.ins.usdoj.gov {I am not a lawyer and this is not legal advice. For
reliable advice, please consult with a professional immigration attorney.}
>
asked
>
The
>
Anyway
>
>
>
asked
>
over
>
>
>
>
>
>
>
[usenetquote2]> > | Thanks Grinch - I can always count on you to be an ass.[/usenetquote2]
[usenetquote2]> > |[/usenetquote2]
[usenetquote2]> > | See the rest of you when my interview is done and I post the results[/usenetquote2]
for
[usenetquote2]> > | those who care.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > My pleasure. Actually my post was very asslike and I apologise. Jonathan[/usenetquote2]
was
[usenetquote2]> > talking generally not specifically about you.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Grinch[/usenetquote2]
Mar 21st 2001, 2:45 am
#21
Guest
Posts: n/a
Dear Alex,
<< How do you show the value of your home for the affidavit of support? >>
Home should be an easy one. Although your property tax statement will not show the
full value of your home, it will show the taxable value. We showed the immigration
officials the property tax statement. That was all that was necessary for that one.
Love and Blessed Be, Theresa
<< How do you show the value of your home for the affidavit of support? >>
Home should be an easy one. Although your property tax statement will not show the
full value of your home, it will show the taxable value. We showed the immigration
officials the property tax statement. That was all that was necessary for that one.
Love and Blessed Be, Theresa
