Foreclosure with I 485 filed??

L

late_twenties

Registered Users (C)
I have my I 140 and I 485 filed right now.
I have yet to receive receipts on I 485, AP, and EAD.
I have a significantly good offer from out of state, which I am planning to take up after EAD approval.
Which means I will have to sell my house, which is under appraised in stinking economy of michigan. I have tried, but it is not selling. The house appraisal is lower than the mortgage balance.

I asked a couple of Realtors who are good friend of mine. They said I will have to foreclose the house to be able to short sell it, or let the mortgage company take over it. which will go over my credit record.

Can this hurt me anywhere in immigration process? I had to show the house and mortgage on my I 485 application.
What is the best course of action for me? Shall I foreclose the house, or stay until the GC is here?
 
Is your case family-based?? Are you using the equity in your house to fulfill an affidavit-of-support?
 
No I am employment based.
My wife's I 485 is filed as my dependent.

I have not used the house as a support. But on I 485 one has to declare the property and bank info, right? I listed the house worth, and mortgage balance on the I 485, as required.
 
I do not think foreclosing will have any direct affect on your GC process. As it is an employment based application, it is more important that you have a job in hand. As long as you are able to support yourself and your dependants with the salary, you should nopt have any issues with your GC process.

Leaving the immigration issue aside, I feel foreclosing on the house is a bad option. Foreclosing can have a serious affect on your credit history, for years, so this should only be the last option. My suggestion, if the job offer is realy good, then take it and move to the new location. Keep making the mortgage payments, and take up a cheap apt. in the new city. Keep trying to sell the house in the meantime, but avoid the foreclosure. You can talk to your mortgage company and tell them you are having problems, and they will work with you to make it easy for you. This may include decreasing your monthly payments etc. Bottomline is, try to avoid foreclosure. Not because of immigration, but because it really bad for the health of your credit.
 
I appreciate your input.
I thought about that too. But even with the new job and new salary, I wont be able to support a mortgage and a rent together. Plus economy in michigan is not going to rebound soon.
I have written a letter to the mortgage company asking them to lower my payments. Lets see what they respond.....
I just wanted to make sure that it doesnt hurt my GC process....

many thanks.....
 
Rent it out

Rent it for less, you should be able to find someone for cheap rent. Pay the difference from you pocket for sometime atleast. Thats what i did.
 
late_twenties said:
No I am employment based.
My wife's I 485 is filed as my dependent.

I have not used the house as a support. But on I 485 one has to declare the property and bank info, right? I listed the house worth, and mortgage balance on the I 485, as required.
Click to expand...

I don't remember declaring bank and property info on the I485 or on the G325? Where in the form did you do it? Will we get RFE because we don't have that?!!!
 
late_twenties said:
I have my I 140 and I 485 filed right now.
I have yet to receive receipts on I 485, AP, and EAD.
I have a significantly good offer from out of state, which I am planning to take up after EAD approval.
Which means I will have to sell my house, which is under appraised in stinking economy of michigan. I have tried, but it is not selling. The house appraisal is lower than the mortgage balance.

I asked a couple of Realtors who are good friend of mine. They said I will have to foreclose the house to be able to short sell it, or let the mortgage company take over it. which will go over my credit record.

Can this hurt me anywhere in immigration process? I had to show the house and mortgage on my I 485 application.
What is the best course of action for me? Shall I foreclose the house, or stay until the GC is here?
Click to expand...

I would not call acquintances who advises me to forclose the house as friends. So you first take serious decision about getting rid of your those "friends". Don't even dream about foreclosing. The "Attractive" offer what you are talking about , have you got already processed by the company and already have written offer? If no then first effect what you would face is to put that into danger as all companies see credit reports before hiring. And even if you have written offer from that company then it could be your last job where you could get in smoothly. Probably may not hurt in immigration process. Why don't you think to rent that home till you get able to sell ?
 
Last edited by a moderator:
unsure said:
I don't remember declaring bank and property info on the I485 or on the G325? Where in the form did you do it? Will we get RFE because we don't have that?!!!
Click to expand...

You do not mention in I-485 form but you are "strongly recommended" bu USCIS to prove your ability to sponsor your family and they have form for it (Number I have forgotten). In that form you show your strength to support/sponsor your family. Now please mind that this is not mandatory for Employment based 485 but in past USCIS sent RFE to hundreds of people and many of them get rejected. Based on that occurance some lawyers have taken a stand to have that "Sponsorship" forms to be filled, signed and sent alongwith 485 form. Some lawyers do not do it as it is not mandatory. Now if you send that form, USCIS would not reject it or throw in a garbage and "MAY" process it as additional information. But if you do not send it, then assigned officer may or may not care about it. IF S/he care about it then S/he has a right to generate RFE in which you will be asked to submit. This is what I understoof from teh discussion with my own lawyer.
 
bharatpremi said:
You do not mention in I-485 form but you are "strongly recommended" bu USCIS to prove your ability to sponsor your family and they have form for it (Number I have forgotten). In that form you show your strength to support/sponsor your family. Now please mind that this is not mandatory for Employment based 485 but in past USCIS sent RFE to hundreds of people and many of them get rejected. Based on that occurance some lawyers have taken a stand to have that "Sponsorship" forms to be filled, signed and sent alongwith 485 form. Some lawyers do not do it as it is not mandatory. Now if you send that form, USCIS would not reject it or throw in a garbage and "MAY" process it as additional information. But if you do not send it, then assigned officer may or may not care about it. IF S/he care about it then S/he has a right to generate RFE in which you will be asked to submit. This is what I understoof from teh discussion with my own lawyer.
Click to expand...

Thank you so much, I got scared!! Well, if ISCIS wants any financial information, I will submit.
 
Also be mindful of the immigration rule that says you have to continue at the current job for at least 180 days after filing 485.
 
You must log in or register to reply here.
Top