I-134, item 7

[gs2006]

Guys,
Got a question on I-134. Can the amount for Savings bank include vested amount from my 401K. I can produce a statement, but just want to make sure. Or does this go into stocks and bonds item? another question is do I need supporting statements for all the sub items listed under item 7 like life insurance, personal property statements etc., I recently bought a house, not sure if I should put that in real estate as I haven't built any substantial equity and I don't understand what "With mortgage or other encumbrance there on amounting to" means?

Any help is greatly appreciated..btw, you have got one resourceful website here..Thanks to you guys..you've made things so much easier..

Thankyou all

[immihelp]

You should not put 401(K) amount in the savings account section.

You don't need to attach the proof of life insurance, house etc.

If your house is worth $500,000 and if you put 20% down, that is $100,000. You have mortagage of $400,000. If you have already paid off $20,000 through monthly installment, you have $380,000 in mortgage remaining.
In other words, they are asking how much the house is worth and how much mortgage you have remaining.

[gs2006]

Thanks for your reply. Any where else I can make use of my 401K funds? stocks/bonds? cuz its a good amount and I don't have much funds in my savings as of now..just wondering..

[immihelp]

You can't really make good use in I-134. Because 401(K) is for your retirement. It won't be useful to support your parents' expenses in USA if the need be.

[gs2006]

I found this a little contradicting..

http://www.immihelp.com/forum/showthread.php?t=8126&highlight=401k

Problem is I have my money scattered around in 3 banks and even If I pool them into one, the bank letter wouldnt reflect that in average balance which I am worried of..or do I just put savings totalled to all 3 banks balances and provide monthly statements from all three? Thanks for your time pal..