Proving Assets (Home) Net Value for the Affidavit of Support

Our I-130 Petition was filed in London DCF on 3rd March, so I am going through the rest of the documents now as a trial run/document gathering. I will only have a good savings account here in the UK and one in the USA, and will need to use our home in the US for the remainder of the support obligation. The only income we will have is that of hubby's pension that gives us an extra £350pcm. We have no liens, or loans against the house, so the house will be of full equity value. Now, I am only supporting one immigrant (spouse). From what I see 125% 2011 Poverty Guidelines for family size 2, I will need $18,388 x 3= $55,164.  Looks like our savings is a chunk with the conversion from pounds to dollar, but I still will need to use about $20,000 -$22,000 from our house value (assuming the conversion £/$ stays close to what it is now)

On to my questions, can I use the HUD report for the value of the home (Original documents we received when we closed on our house showing all payments in/out), or use the tax assessment for 2011 which is very low to the actual value of the home or will I need to obtain a proper home appraisal?  

Question #2:  Will this be a problem asset because this house will be our principal residence in the US when we get there?  I was told by someone that this may be a problem, but I would have thought that having a mortgage free house would make a great asset.  Also in the area we will live in, its an up and coming area and homes can be picked up very easily/quickly, so I would think that this would be a liquid asset turnaround as indicated on the I-865.

Question #3:  Can we use our cars value that we have in the UK?  We have two cars, I see that one can be used but I'm not clear on if it means in the US only. Both of these obviously will be sold when we do move but can we use the value on the Affidavit?



I thank you in advance for any help you may be able to provide.

Thought I would show the answer that I had received from an Immigration Lawyer. Hope this will help others out in a situation like ours.

From what I see from the I-1864 I do need to have $18,387 for income alone, but my problem is, is that hubby will have the only income going in (pension £353.PM converted to US annually $6904). According to I-864 I will need to use our assets because we will only have that income. Poverty level $18,387 less $6,904= $11,483. Now do I only multiply the $11,483 remaining due for assets by 3 making it $34,449.00?  Leaving the $34,449.00 for obligatory support I will need to use our assets.
Now savings in UK is $29,340, and US $6,911.66 = $36,251.66. If this is right then we would be above the required amount needed in income and assets by $1,802.66. Can you confirm this please? If it isn't enough like I had asked in my original posting then I would need to use my home in Florida which is paid in full as an asset. We will be living in that house as well is that a problem?
 
From Georgetown Lawyer
Monday, June 06, 2011 1:19 AM EST

Your calculation is correct and you are above. You can still list the house as an asset as that puts you way over the guidelines. You living in the house is not a problem whatsoever. HUD report, tax assessment can be used. I hope this helps clarify.