So now what?

L

labor_replace

Registered Users (C)
My PD is 2005 EB3. Applied for 485 with AP and EAD.
Now how long to wait and keep renewing my EAD. Was this premeditated by USCIS to make everybody current and then move back the dates....so that more revenues comes in.....
 
labor_replace said:
My PD is 2005 EB3. Applied for 485 with AP and EAD.
Now how long to wait and keep renewing my EAD. Was this premeditated by USCIS to make everybody current and then move back the dates....so that more revenues comes in.....
Click to expand...
Nobody's asking you to keep renewing EAD. You can just keep using your H1B just like before.

Your wait will probably be b/w 3-7 years. Good Luck.
 
Back to the original question.

Apply for EAD in 2007
Don't apply in 2008
Don't apply in 2009
Apply again in EAD => this is valid as long as 485 is pending.

If you lose your job, apply immediately for EAD. If you get ur EAD within 90
days, I think you will still be in status. I'm not sure of the exact technical
rule (as to how many *free* days you have). Once you get EAD, continue
looking for job (if u haven't found one in 90-days and haven't switched ur
H1-B to that job).
 
no_more_anger said:
Back to the original question.

Apply for EAD in 2007
Don't apply in 2008
Don't apply in 2009
Apply again in EAD => this is valid as long as 485 is pending.

If you lose your job, apply immediately for EAD. If you get ur EAD within 90
days, I think you will still be in status. I'm not sure of the exact technical
rule (as to how many *free* days you have). Once you get EAD, continue
looking for job (if u haven't found one in 90-days and haven't switched ur
H1-B to that job).
Click to expand...

i suggest please apply for ead/ap even if you have h-1 etc and even if you think you have a stable job. you never know.
i renewed ead/ap twice before i got my gc.

ead--- couple of hundred bucks
ap----couple of hundred bucks.
peace of mind----- priceless.
 
Would always renew at least the EAD, the AP, if you can afford to renew then definitely renew, as gcaa says it is definitely peace of mind, and even though you have H-1 you do not need to get it stamped if you go out the country provided you have AP.
 
Thanks guys...but reality is i am still in the queue

Thanks. I was very happy while filing for 485, EAP and AP. I had the illusion that i got my GC. But now the real thing...is my mood has gone back to as it was before application. Now i have to wait...that is what i was doing earlier. So there is no difference...I will continue to live with it. I know most of you guys are very senior....Pd with 2001 waiting..and I am a fool to starting thinking of the plastic card before you guys....thanks a lot. Relieved now.
 
you are in much better shape than those who missed the boat in July'07.
labor_replace said:
Thanks. I was very happy while filing for 485, EAP and AP. I had the illusion that i got my GC. But now the real thing...is my mood has gone back to as it was before application. Now i have to wait...that is what i was doing earlier. So there is no difference...I will continue to live with it. I know most of you guys are very senior....Pd with 2001 waiting..and I am a fool to starting thinking of the plastic card before you guys....thanks a lot. Relieved now.
Click to expand...
 
Thanks again. I am now developing another Illusion---buying a house. Is this a good idea? instead of paying rent. THe interest rates are low.
With the dollar decline.....even if I build equity in the house...will it make a sense down the road? Confused as usual.

Another 3-4 yrs for my GC to get approved. Is this all worth it? I think lot you folks will be in the same boat. But this is the board where we can let our thoughts roam freely.
 
what I have read in a WSJ article is that one has to hold the house for avg 7 years before selling to make profit in the transaction.

labor_replace said:
Thanks again. I am now developing another Illusion---buying a house. Is this a good idea? instead of paying rent. THe interest rates are low.
With the dollar decline.....even if I build equity in the house...will it make a sense down the road? Confused as usual.

Another 3-4 yrs for my GC to get approved. Is this all worth it? I think lot you folks will be in the same boat. But this is the board where we can let our thoughts roam freely.
Click to expand...
 
Buying a house

I think buying a house is such a individual decision.However, the way we looked at it was not only from a monetary aspect. If you have children, they can have their individual rooms, you can have a lot of space and a backyard. along with it come headaches of property maintainance but you can decorate the house.
My advice would be to look at it as a total package -monetary + sentimental and then decide.
P.S; We still dont have our GC, but love our home
 
labor_replace said:
Thanks again. I am now developing another Illusion---buying a house. Is this a good idea? instead of paying rent. THe interest rates are low.
With the dollar decline.....even if I build equity in the house...will it make a sense down the road? Confused as usual.

Another 3-4 yrs for my GC to get approved. Is this all worth it? I think lot you folks will be in the same boat. But this is the board where we can let our thoughts roam freely.
Click to expand...

No ..dont buy. it is the worst idea which will haunt you if you are on EAD. first, do you need a house ? if you have 2-3 grown children or something wherby you need space ..also renting is not throwing money ..you get a place to stay . apt owner pays for insurance (external), prop tax + mntc + staff + bank loans.
 
THanks..one of my fiend suggested me to buy as the housing market is crashing here. I got tempted as I was spending money for my rent. But with EAD, let me wait and see how the future goes/grows. I sometimes feel...that I should go back as I have to wait 3 or 4 years for the card and then I have to wait 5 more years for the citizenship or whatever.
 
Depends

I am not a home owner at this time and do not intend to be one anytime before I get my GC. My concerns for buying a home at this time are -
1) Spending resources to buy a home (time and money)
2) Spending resources to maintain a home (home items, furniture, friends&family, day-to-day activities cleaning, etc)
3) Spending money if a need arises to sell the home (move to different geographic location due to several reasons).

On the other hand, living in an apartment allows me to have more disposable time and money on other activities/things than that when I own a house.

Many home owners feel
1) that paying rent is money down-the-drain. I feel I am buying living space and peace-of-mind with that money. Any problem with in the apartment can be reported to the maintenance, where as a similar issue has to dealt with by the home owner.
2) putting money on home is an big investment. I disagree. Neither am I planning to get involved in a buy-sell-buy-sell option nor am I planning to live in US for a long time.

Bottom line - I would rather buy time and peace-of-mind by paying rent. When ever I wish to leave this place I have only one thing to think about - a best place to move to where I can get a nice job. I feel my life has no-strings-attached.
 
I agree with the fact that if you want to take up a job somewhere else, then not having a house to sell is one less thing to worry about, but other than that, having a GC or not does not make a difference I feel. Having an EAD is equally good.
Whether you have a GC or not the bills do show up end of the month.
 
GrC2005 said:
I agree with the fact that if you want to take up a job somewhere else, then not having a house to sell is one less thing to worry about, but other than that, having a GC or not does not make a difference I feel. Having an EAD is equally good.
Whether you have a GC or not the bills do show up end of the month.
Click to expand...

GC / EAD is not the only issue. housing is in a bad bad shape. there is atleast 11 month supply and v.less demand + more foreclosures on the way.
where will they find all the people to buy this excess inventory..immigration was one way. americans have smaller families ..so the prices have only one way to go ..DOWN. people who brought a house 5 years back are lucky ..buying with EAD is a big hassle if your job is not stable ...since you will be restricted to yr area
 
If one is determined to buy, now is a good time because interest rates are still reasonably low and owners are desperate to sell and will drop their price and/or throw in extras like a plasma TV or even a car to make the sale.

However, buying is not necessarily a good financial decision. In the first 5-10 years, buying involves throwing away just as much money as renting.

First of all, when you buy the place you'll pay about 4-5% for closing costs. Then when you sell, you'll pay 6% in commissions and other related expenses. So just to break even, you have to sell for at least 10% more than what you bought it for. Prices are still dropping, so you're probably not going to see your price go up by 10% for another 5 years.

Then during the first few years, over 75% of the monthly payments go towards interest. That interest is mostly throwaway money; you don't get it back except for the tax deduction which gives you about back 15-28%. Then you have to pay property tax, typically 1-3% of the home price, paid every year. And also insurance, which is again throwaway money. And there is maintenance -- you have to pay to fix the plumbing, fix the oven, or whatever goes wrong with the place ... no landlord to pay for that.

If your mortgage is $1000, the other expenses can be expected to add up to at least $300/month. Usually more. I would rather "throw away" $1000/month on rent and have the freedom to move easily than spend $1400 on mortgage + expenses. I bought a place and now I wish I didn't.
 
Oh it is not that bad Jacko.

Buying a house or not is a very personal decision IMHO. It is very involved and definitely involves a certain financial risk. Many times it is equally an emotional one, since it is your place of living, and a part of your daily life, unlike a stock or bond. It is also illiquid as you pointed out and the transaction costs are relatively high.
With these points in mind, I think the next 1-2 yrs certainly represent a buying opportunity for those who have been waiting for the last few years.
Closing costs are high, but if you are buying in the 300K range, I doubt they come up to much more than 1.5% or so.
The mortgage interest as well as property taxes are tax deductible and therefore gives you a little break with uncle Sam' bill. All of the money you are paying in is lost unless you get some appreciation in your house price and for the next few years and that is not a given, in fact, in my view it is likely we will be at the same prices we are at now in 3 yrs from now.
However the pleasure of you and your family living in a home you own are many.
Additionally, none of us can exactly time the market, if you are in a place for the long term and have a steady income and take a position in the housing market while it is down, you will be in a good position to ride the pick up when it inevitably happens, a couple of years from now.
With all the risks now however, job risks, economic risks, house prices risk and for many on this forum the immigration issues risk, renting for a while, atleast a year or so and seeing which way the winds blows can be considered a balanced approach.. I doubt that by this time next year you would have missed the boat!
 
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