Using assets without a sponsor for spouse's green card

[Yooperjusty]

Hey guys, I am new to this forum and really hoping I can get some good help/advice!
I have a unique question I am hoping someone can help me out with, as I have not seen someone in my situation ask this. I'm an American citizen living in China with my Chinese wife. We are planning to move back to the U.S. in 2 year, so plan to apply and start the green card process, from within China, next year. My parents are not wanting to cosign, so I am planning to try to use me and my wife's asset (a condo we paid in cash) instead of a sponsor. I read about the calculations for using my assets, so I have a question. We have a condo that was purchased for $60,000, but I'm not sure what it's value is to be used as an asset. The 125% of poverty guideline with my wife, son and I is $25,200, but, my income in China is around $25,380 or a little more, but, does Chinese income count for the calculation and, if I'm over the poverty line income, or the Chinese income does not count (which I'm thinking it would not count) how are the minimum required cash value of assets calculated?
If the Chinese income will do nothing, does that mean i need an incredible amount of assets?
2nd question, is it illegal to go to the U.S. on a travel visa to do the green card process? My Chinese wife has already been to the U.S. several times on a tourist visa, but I have heard that it is highly illegal to do it that way, but I've also heard of people having it done successfully.
If not, maybe just try for a student visa and have her go to school in order to do the green card process that way?
Thank you for any help you can provide, I truly appreciate any of you guys who can!!

[rayb]

1. Using real estate (the condo you mentioned) equity for sponsorship is not likely to be accepted in lieu of income. If the condo is in China, that further complicates its posslble use, as you must prove "fast sale" equity value.

2. If you are earning the equivalent of $25,000 in China, you should be filing a U.S income tax returns, and this can be part of your sponsorship processing. If you already earned this income and China and did not file a U.S. income tax return, you are in noncompliance with IRS requirements.

--Ray B

Hey guys, I am new to this forum and really hoping I can get some good help/advice!
I have a unique question I am hoping someone can help me out with, as I have not seen someone in my situation ask this. I'm an American citizen living in China with my Chinese wife. We are planning to move back to the U.S. in 2 year, so plan to apply and start the green card process, from within China, next year. My parents are not wanting to cosign, so I am planning to try to use me and my wife's asset (a condo we paid in cash) instead of a sponsor. I read about the calculations for using my assets, so I have a question. We have a condo that was purchased for $60,000, but I'm not sure what it's value is to be used as an asset. The 125% of poverty guideline with my wife, son and I is $25,200, but, my income in China is around $25,380 or a little more, but, does Chinese income count for the calculation and, if I'm over the poverty line income, or the Chinese income does not count (which I'm thinking it would not count) how are the minimum required cash value of assets calculated?
If the Chinese income will do nothing, does that mean i need an incredible amount of assets?
2nd question, is it illegal to go to the U.S. on a travel visa to do the green card process? My Chinese wife has already been to the U.S. several times on a tourist visa, but I have heard that it is highly illegal to do it that way, but I've also heard of people having it done successfully.
If not, maybe just try for a student visa and have her go to school in order to do the green card process that way?
Thank you for any help you can provide, I truly appreciate any of you guys who can!!

[Yooperjusty]

1. Using real estate (the condo you mentioned) equity for sponsorship is not likely to be accepted in lieu of income. If the condo is in China, that further complicates its posslble use, as you must prove "fast sale" equity value.

2. If you are earning the equivalent of $25,000 in China, you should be filing a U.S income tax returns, and this can be part of your sponsorship processing. If you already earned this income and China and did not file a U.S. income tax return, you are in noncompliance with IRS requirements.

--Ray B

Thank you Ray B. The condo is in the U.S. and it's in me and my wife's name, so, I figured that would help us in the green card process. That will be unfortunate if we can't use the condo as equity for sponsorship. I'm guessing that proving "fast sale" equity value is difficult to impossible?
I have been filing U.S. income tax returns, and/so that's good to know I can use that for sponsorship processing.
Will I need to provide certain tax return documents and, in my current situation, is it possible to get my wife the green card without a cosigner/sponsor other than myself?

Is a travel/student visa an easier route to go? I find that there is most-likely no way I can get a sponsor, so I'm willing to go any route I can to get my wife, son and I over to the states!

Thanks again!

[rayb]

If you're not planning to leave China for two years, you have plenty of time to beef up your equity in the condo, maybe sell it (except that you need a destination in the U.S.).

--Ray B

Thank you Ray B. The condo is in the U.S. and it's in me and my wife's name, so, I figured that would help us in the green card process. That will be unfortunate if we can't use the condo as equity for sponsorship. I'm guessing that proving "fast sale" equity value is difficult to impossible?
I have been filing U.S. income tax returns, and/so that's good to know I can use that for sponsorship processing.
Will I need to provide certain tax return documents and, in my current situation, is it possible to get my wife the green card without a cosigner/sponsor other than myself?

Is a travel/student visa an easier route to go? I find that there is most-likely no way I can get a sponsor, so I'm willing to go any route I can to get my wife, son and I over to the states!

Thanks again!