Asset / Liability Question on Form I-944

[harris_iqbal]

Greetings!

Hope someone can help me on this confusion:

On Form I-944 - Part 3 Item # 9 and 10 - you have to list Household Assets and Liabilities/Debts.

In the filing instructions it says that if you list a house as an asset - it has to be the NET VALUE which obviously means Equity. Appraised Value - whats owed = Net.

So if I put the NET value of Real Estate Assets in Part 3 - Item 9 and then I put my Mortgage of the house in Part 10. Would that not cause confusion?

Technically - I already took the Mortgage into consideration when I calculated the NET value under assets.... this is basic accounting. I just want to make sure I communicate my household value appropriately.

Thanks for any help!

A separate question: On filing instructions of Form I-485 - it technically says one is exempt from filing form I-864 if they have 40 quarter credits on their Social Security Account (which I have). I had Exempt selected here - but I just read someone else's post on this forum that their I-485 got denied (twice) because they put exempt and showed their SSA Earnings statement as clearly instructed in the Form Instructions. So now I'm worried that may happen. Any insights? I might as well just submit the I-864 form just to be safe!

Kindly,
Harris

[Tibwa]

I had the same question but apparently they want to see the NET ASSET value. Now he does help in the case of my Wife and my Daughter. Although I added my assets for them on their I-944, I did not have to add my debt. My daughter does not have debt and my wife does not carry my mortgage, car loans under her credit. I guess in they assets session, they are looking to see if you have enough assets to support yourself for a short period of time without getting any assistance from the FED.

Several of us here (including myself) got rejected due to lack of I-864 although we had our 40 qualifying quarters? On what basis are you filing? if it is with an I-140, maybe not but if it is under the Family Base Category, you probably need to. The biggest issued is that the the people in the processing center seem to have no idea about this EXEMPTION, which is very crappy. I finally filed with I-864 and crossing my finger hopping they do not reject it this time.

[harris_iqbal]

Tibwa,

Just to be clear - you added your NET ASSETS for your household (in the case of your house - this would be your equity minus any liens) and in the liability section you still listed your mortgage for that same house?

I'm helping my parents with their case. My sister is a US Citizen and she is sponsoring my parents (Family based I-130). I'm a green card holder already based on employment based but I am part of the household so they are getting the benefit of my assets/income and apparently I don't have to put my liabilities as a household member (all of this makes very little sense... I can make it crystal clear with my own table and calculate the NET WORTH of the household for them on a separate page (which I'll probably end up doing and show as an addendum to explain).

Regarding the I-864 - yep my Dad has been working here (business) for 18 years so he has well over 40 quarter credits as per his SSA statement. But I had a doubt in my mind due to this being very new - an untrained or incompetent agent could just simply reject the application due to not knowing about the exemption. My suspicion was corroborated when I saw your post on this forum. My sister and I have no problem submitting the I-864 and I-864A for them - it is a simple form - even though technically my parents are exempt from that but I'll do it anyway to be on the safe side.

I am sorry to hear about your wrongful denial and I wish you the best in your endeavor.

Regards,
Harris

[Tibwa]

Yes I added the NET ASSET as you described , which is your equity as described in the instruction Form for I-485. I also add my full liability as shown in my credit report.

The way immigration required to fill this I-944 in the asset side makes no sense. They ask for the equity in the assets portion and the full liabilities in the debt section. This will likely create a very high debt to assets ratio. I don't believe that was their intent in this form. Then again, when you take lawyers and anti-immigration hawks to make rules, that should be expected.