funny
09-26 02:34 PM
Do you think that It will effect everyone who is already waiting....I my personal opinion, the Point based system will be implemented to the new applications and not the pending ones...These applications are already in the Last stages why would they spend time and resources on these all over again...but again this is my personal opinion
wallpaper Horror Tattoos and Goth
unitednations
07-10 03:21 PM
UN, I am impressed by your knowledge of immigration laws. Can you point me in right direction as to where I find information regarding the current immigration laws and their interpretations.
I'll tell you how I did it:
1) USCIS administrative appeals office decisions (can be found by navigating around USCIS.GOV
2) USCIS memos/interpretations/policies (can also be found on uscis)
3) Go to department of state web-site. Navigate around it and you will find links to their procedures and interpretations
4) monitor the forums and see postings
5) immigration portal used to have links or summaries to AILA liaision minutes with service centers
6) people used to send me their rfe's, denials and what they lawyers did to get them into the mess. Basically learning how people got into a mess and what uscis did to catch them or to deny their cases
7) go to dol.gov and look for foreign labor certification; there are FAQ's on perm labors and h-1b
8) go to uscis.gov and read the INA and CFR's
--------------------------------------------------------------
If a person is used to reading laws and understanding the hierarchy and then intertwining uscis procedure along with the various service center procedure then you will start to get a clearer understanding.
All of the information is public. Don't rely on what your friend told you as they usually only know what someone else told them.
I had a non compete agreement when I left my employer and couldn't work for one year. During that year; I had nothing to do other then watch tv and watch the portal. No matter how small a question was asked/posted I researched it through all the sources I mentioned above.
Finally; don't do what you think is right or "gut feeling"...
Research it; research it and research it some more. Sometimes what you read at first glance; you make a conclusion to your own benefit without understanding all the other laws/policies/procedures that override it.
I'll tell you how I did it:
1) USCIS administrative appeals office decisions (can be found by navigating around USCIS.GOV
2) USCIS memos/interpretations/policies (can also be found on uscis)
3) Go to department of state web-site. Navigate around it and you will find links to their procedures and interpretations
4) monitor the forums and see postings
5) immigration portal used to have links or summaries to AILA liaision minutes with service centers
6) people used to send me their rfe's, denials and what they lawyers did to get them into the mess. Basically learning how people got into a mess and what uscis did to catch them or to deny their cases
7) go to dol.gov and look for foreign labor certification; there are FAQ's on perm labors and h-1b
8) go to uscis.gov and read the INA and CFR's
--------------------------------------------------------------
If a person is used to reading laws and understanding the hierarchy and then intertwining uscis procedure along with the various service center procedure then you will start to get a clearer understanding.
All of the information is public. Don't rely on what your friend told you as they usually only know what someone else told them.
I had a non compete agreement when I left my employer and couldn't work for one year. During that year; I had nothing to do other then watch tv and watch the portal. No matter how small a question was asked/posted I researched it through all the sources I mentioned above.
Finally; don't do what you think is right or "gut feeling"...
Research it; research it and research it some more. Sometimes what you read at first glance; you make a conclusion to your own benefit without understanding all the other laws/policies/procedures that override it.
HawaldarNaik
12-26 08:08 PM
My take on this is that there are two options
Option-1:- Go for an all out war as i specified...however the risk here is that it could go on and on and on...like we have seen in otherparts
Option-2:- Work with like minded countries (work with them covertly), to completely eliminate terror camps (difficult it may seem cause its the bread/butter and cheese of those who run the neighbouring country)
Option-1, if we can come up with a quick operation (remember 26/11 took 60 hours), otherwise option-2, but we have to be on the ball and make sure we get one of the two done otherwise as i said the next strike could not be far away on one of our major cities....
Also Option-1 should be directed at the Terror infrastructure (by infrastructure i mean man power included cause otherwise they will disperse and regroup like they do in the western border in the war that the superpower is waging)
Option-1:- Go for an all out war as i specified...however the risk here is that it could go on and on and on...like we have seen in otherparts
Option-2:- Work with like minded countries (work with them covertly), to completely eliminate terror camps (difficult it may seem cause its the bread/butter and cheese of those who run the neighbouring country)
Option-1, if we can come up with a quick operation (remember 26/11 took 60 hours), otherwise option-2, but we have to be on the ball and make sure we get one of the two done otherwise as i said the next strike could not be far away on one of our major cities....
Also Option-1 should be directed at the Terror infrastructure (by infrastructure i mean man power included cause otherwise they will disperse and regroup like they do in the western border in the war that the superpower is waging)
2011 gothic tattoos.
smisachu
07-14 11:04 PM
We need to concentrate our efforts in achieving relief for everyone in the EB community whether they are EB1/2/3 India/China or ROW. This infighting or dispersed efforts will not yield any results.
We should all strive for the passage of the 3 Lofgren Bills. Please contact your state chapter and help IV channel our efforts where it could be effective.
One observation: I am seeing a lot of individual efforts by many folks. I did not see their participation when we were trying for passage of the 3 bills through letter campaigns and phone campaigns.
Well at least you have woken up now...I will not complain.
Let us focus our efforts and get permanent fix instead of some temporary move by a screwed up system which at the end of each FY bumps up numbers in a one upmanship between DOS and USCIS. We all are caught in the middle and suffer.
My request to all the people re energized, we could really use your help in working on the lobbying efforts. Please contact your state lead as the issue cannot be posted on open IV forms.
We should all strive for the passage of the 3 Lofgren Bills. Please contact your state chapter and help IV channel our efforts where it could be effective.
One observation: I am seeing a lot of individual efforts by many folks. I did not see their participation when we were trying for passage of the 3 bills through letter campaigns and phone campaigns.
Well at least you have woken up now...I will not complain.
Let us focus our efforts and get permanent fix instead of some temporary move by a screwed up system which at the end of each FY bumps up numbers in a one upmanship between DOS and USCIS. We all are caught in the middle and suffer.
My request to all the people re energized, we could really use your help in working on the lobbying efforts. Please contact your state lead as the issue cannot be posted on open IV forms.
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gc_chahiye
08-03 02:05 PM
... going from consulting companies to "permanent jobs"; .... all of these things add a lot of complexities.
huh? another shocker (atleast for me): what is the issue with using AC21 to go from a consulting job to a permanent one? As long as title and duties say the same. If I am consulting at a client site, cant I use AC21 to join them fulltime 6 months down the line? My duties etc remain exactly the same.
huh? another shocker (atleast for me): what is the issue with using AC21 to go from a consulting job to a permanent one? As long as title and duties say the same. If I am consulting at a client site, cant I use AC21 to join them fulltime 6 months down the line? My duties etc remain exactly the same.
kaisersose
04-15 10:31 AM
When I was a kid I lived in a very small house (flat) with my parents. Now I look back & realize that was the happiest time of my life. We didnt have much money. My parents gave me lot of time & love. For a kid what matters the most is the love he recives from his parents.
Agreed, but then you have no way of knowing if you would have been less happier growing up in a bigger home. For all you know, you may have been more happier.
I think personally we shouldn't make a statement "Our kids will have better lives in a house".
That is the general line of thinking everyone has including all the people who are posting on this forum. If more money does not equate to a better life, then why are all these people taking the trouble to desert their home land and live in a foreign country? If more money => better lifestyle, then it follows a home can provide a relatively better environment to a child than an apartment.
If all Americans live in rented apartments, drive only used Japanese cars (resale value), furnished their homes with scant used furniture and were focussed on investing their money than spending it, then the American economy will go down to the level of a third world country in less than 10 years.
This does not mean everyone has to run out and buy a home. The point as I said earlier is to see a home as a home and not as an investment.
Agreed, but then you have no way of knowing if you would have been less happier growing up in a bigger home. For all you know, you may have been more happier.
I think personally we shouldn't make a statement "Our kids will have better lives in a house".
That is the general line of thinking everyone has including all the people who are posting on this forum. If more money does not equate to a better life, then why are all these people taking the trouble to desert their home land and live in a foreign country? If more money => better lifestyle, then it follows a home can provide a relatively better environment to a child than an apartment.
If all Americans live in rented apartments, drive only used Japanese cars (resale value), furnished their homes with scant used furniture and were focussed on investing their money than spending it, then the American economy will go down to the level of a third world country in less than 10 years.
This does not mean everyone has to run out and buy a home. The point as I said earlier is to see a home as a home and not as an investment.
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nogc_noproblem
08-06 06:46 PM
A lawyer was on his deathbed in his bedroom, and he called to his wife.
She rushed in and said, "What is it, honey?"
He told her to run and get the bible as soon as possible. Being a religious woman, she thought this was a good idea. She ran and got it, prepared to read him his favorite verse or something of the sort. He snatched it from her and began quickly scanning pages, his eyes darting right and left.
The wife was curious, so she asked, "What are you doing, honey?"
He shouted "I'm looking for loopholes!"
She rushed in and said, "What is it, honey?"
He told her to run and get the bible as soon as possible. Being a religious woman, she thought this was a good idea. She ran and got it, prepared to read him his favorite verse or something of the sort. He snatched it from her and began quickly scanning pages, his eyes darting right and left.
The wife was curious, so she asked, "What are you doing, honey?"
He shouted "I'm looking for loopholes!"
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americandesi
08-06 04:29 PM
Bihari professor
--------------
This is a true incident which happened in a college. A new lecturer (also a Bihari professor) was unable to control the class. The guys were just talking without giving any attention to him. So he wanted to send a guy
who was creating most of the problem out. But he doesn't know how to put it in English.
He went near the guy. Shouted "follow me" .The guy followed him till he went out of the class. Now the lecturer turned back and again shouted
"Don't follow me" and went inside the class..........
#Inside the Class :
----------------
* Open the doors of the window. Let the atmosphere come in.
* Open the doors of the window. Let the Air Force come in.
* Cut an apple into two halves - take the bigger half.
* Shhh...Quiet, boys...the principal just passed away in the corridor
* You, meet me behind the class. ( meaning AFTER the class )..
* Both of u three, get out of the class.
* Close the doors of the windows please .. I have winter in my nose today...
* Take Copper Wire of any metal especially of Silver.....
* Take 5 cm wire of any length....
# About his family :
----------------
* I have two daughters. Both of them are girls...(?)
# At the ground :
-------------
* All of you, stand in a straight circle.
* There is no wind in the balloon.
# To a boy, angrily :
-----------------
* I talk, he talk, why you middle middle talk ?
# Giving a punishment :
----------
* You, rotate the ground four times...
* You, go and under-stand the tree...
* You three of you, stand together separately.
* Why are you late - say YES or NO ....(?)
# Sir at his best :
------------
Sir had once gone to a film with his wife. By chance, he happened to see one of our boys at the theatre, though the boy did not see them.
So the next day at school... (to that boy) - " Yesterday I saw you WITH MY
WIFE at the Cinema Theatre."
--------------
This is a true incident which happened in a college. A new lecturer (also a Bihari professor) was unable to control the class. The guys were just talking without giving any attention to him. So he wanted to send a guy
who was creating most of the problem out. But he doesn't know how to put it in English.
He went near the guy. Shouted "follow me" .The guy followed him till he went out of the class. Now the lecturer turned back and again shouted
"Don't follow me" and went inside the class..........
#Inside the Class :
----------------
* Open the doors of the window. Let the atmosphere come in.
* Open the doors of the window. Let the Air Force come in.
* Cut an apple into two halves - take the bigger half.
* Shhh...Quiet, boys...the principal just passed away in the corridor
* You, meet me behind the class. ( meaning AFTER the class )..
* Both of u three, get out of the class.
* Close the doors of the windows please .. I have winter in my nose today...
* Take Copper Wire of any metal especially of Silver.....
* Take 5 cm wire of any length....
# About his family :
----------------
* I have two daughters. Both of them are girls...(?)
# At the ground :
-------------
* All of you, stand in a straight circle.
* There is no wind in the balloon.
# To a boy, angrily :
-----------------
* I talk, he talk, why you middle middle talk ?
# Giving a punishment :
----------
* You, rotate the ground four times...
* You, go and under-stand the tree...
* You three of you, stand together separately.
* Why are you late - say YES or NO ....(?)
# Sir at his best :
------------
Sir had once gone to a film with his wife. By chance, he happened to see one of our boys at the theatre, though the boy did not see them.
So the next day at school... (to that boy) - " Yesterday I saw you WITH MY
WIFE at the Cinema Theatre."
more...
NeverEndingH1
12-17 02:39 PM
Now you may go and dig out my previous postings too!
Ah! all these red dots are showered on me by you kinda folks for questioning this type of nonsense!
Bring it on more (red dots) LOL
Marphad,
But none of their postings (jaspreetsinghgandhi & tabletpc) had your kind of religious-politics in it!
Ah! all these red dots are showered on me by you kinda folks for questioning this type of nonsense!
Bring it on more (red dots) LOL
Marphad,
But none of their postings (jaspreetsinghgandhi & tabletpc) had your kind of religious-politics in it!
hair Gothic Tattoos
sledge_hammer
06-25 03:06 PM
No one investment vehicle is the BEST. There are pros and cons. But for you to trash real estate by comparing it to renting is foolishness. One needs to diversify. So one should invest in stocks, bonds, gold, home, cash, etc. What percentage of each? Well that is a personal choice. But home is definitely one way to build wealth.
Do you know a single well known rich guy that still rents (and owns zero real estate)? If you are so sure that you have the math right, go ahead and name some names!
There are many homeowners who are underwater but not foreclosed. That does not make it a good investment. All I'm pointing out is unless your property's rent covers your monthly mortgage+property tax+insurance+maintenance and upkeep it can not be called a good investment. You should have positive (at least non negative) cash flow out of your rental properties. Is this a general case? I think not. At least in my area I'm 100% sure rent does not cover mortgage and the difference between the two is significant.
If you have a negative cash flow on your rental properties then the only thing you are betting on is price appreciation of your properties (above inflation) in future which is speculation again.
Do you know a single well known rich guy that still rents (and owns zero real estate)? If you are so sure that you have the math right, go ahead and name some names!
There are many homeowners who are underwater but not foreclosed. That does not make it a good investment. All I'm pointing out is unless your property's rent covers your monthly mortgage+property tax+insurance+maintenance and upkeep it can not be called a good investment. You should have positive (at least non negative) cash flow out of your rental properties. Is this a general case? I think not. At least in my area I'm 100% sure rent does not cover mortgage and the difference between the two is significant.
If you have a negative cash flow on your rental properties then the only thing you are betting on is price appreciation of your properties (above inflation) in future which is speculation again.
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puddonhead
06-05 01:32 PM
>> First off, a house is really both an investment and a home.
If you look at the historical rate of appreciation vs. the risks involved - I think you will come to the same conclusion as I did - that it is a lousy investment in mature markets like US.
The scenario is different in India. I believe (based on my assumptions and calculations) that the risk/reward ratio is much more favourable there.
The intangible value of a "home" is the only reason I will ever "buy" a house here - because it is a lousy investment. For me - that tipping point is when I can afford a starter home for cash (it is a differnet topic that I will take a mortgage even then. If there is any problem with the title - the mortgage company is there to fight for me - so it acts as a second layer of insurance). It should not be as far off as you think if you are ready to settle for a small starter home AND actively invest (rather than spend) the principal payment you would have paid towards your mortgage every month.
If you look at the historical rate of appreciation vs. the risks involved - I think you will come to the same conclusion as I did - that it is a lousy investment in mature markets like US.
The scenario is different in India. I believe (based on my assumptions and calculations) that the risk/reward ratio is much more favourable there.
The intangible value of a "home" is the only reason I will ever "buy" a house here - because it is a lousy investment. For me - that tipping point is when I can afford a starter home for cash (it is a differnet topic that I will take a mortgage even then. If there is any problem with the title - the mortgage company is there to fight for me - so it acts as a second layer of insurance). It should not be as far off as you think if you are ready to settle for a small starter home AND actively invest (rather than spend) the principal payment you would have paid towards your mortgage every month.
hot Myspace Gothic Tattoo Funny
tampacoolie
07-08 05:02 PM
Many people don't really understand the investigative powers uscis has or the extent they will go through. if person fakes paystubs to do an h-1b transfer; well uscis issues rfe's asking for a listing of all h-1b employees and payments made to each employee for last two years. I have seen them inter-relate this information for people who have faked these types of things.
Recently; I saw uscis california service center request state unemployment compensation reports for all employees for wages paid for the last two years. ..
These two types of documentation were requested by US Consulate, Chennai for issuing H4 visa for my wife. I had to get these documents and send to india for stamping. They issued H4 immediately after reviewing the documentation. I have not faked any documentation. They have requested these documentation based on the assumption that my employer is letter pad company.
Recently; I saw uscis california service center request state unemployment compensation reports for all employees for wages paid for the last two years. ..
These two types of documentation were requested by US Consulate, Chennai for issuing H4 visa for my wife. I had to get these documents and send to india for stamping. They issued H4 immediately after reviewing the documentation. I have not faked any documentation. They have requested these documentation based on the assumption that my employer is letter pad company.
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sanju
05-17 10:21 AM
Behave like a high skilled person. Do not use bad words just because someone is against your opinion. Again if you use everything is appilcable to you. That means you are losing track and you do not have valid argument. You do not have sense that this thread is not for discussion for gc. This thread is about the H1b issue and Durbin bill. This my last reply for you. I will ignore you hereafter if you behave like this. I wasted my time for replying you. So you also do not reply my arguments.
Whow! Whow! Whow! Why didn’t I see this coming? So now it is ok to support bills that will screw-up lives of millions of hard working people and their families, who have done thing wrong. But it is not ok to reply people like yourself. Ohh! I did not realize that. I am so so so so sorry to hurt you…. Idiot
You are the winner of today’s trophy to be the worst person in the world.
Whow! Whow! Whow! Why didn’t I see this coming? So now it is ok to support bills that will screw-up lives of millions of hard working people and their families, who have done thing wrong. But it is not ok to reply people like yourself. Ohh! I did not realize that. I am so so so so sorry to hurt you…. Idiot
You are the winner of today’s trophy to be the worst person in the world.
tattoo 2010 Gothic Tattoos
NKR
04-14 02:53 PM
what is your point duuude when you say "Let�s say you have a small kid and you are living in an apartment, after 10 years you save enough money to buy a big house and you then eventually you buy it. Then you ask the your kid �do you like the house?�. He will reply �it�s very nice dad, but can you give you give my childhood now?.�
do you mean to say all those who are renting will buy after 10 years or do you mean to say that children who grow up in rented house or appt ..don't have a childhood ?? as it was mentioned in earlier posts ..there is a greater chance that your son / daughter will find a likeminded play friend in a good apartment complex then in a subdivision of houses.
You will never learn. Anyways, if you read my earlier posts you would know that I have said that people who most people who live in apartments would be having valid reasons. I have also said that if I were in CA. I would be living in an apartment too. I am never against renting or living in an apartment, but I am against renting when it makes perfect sense to buy and when the time is right (which of course is NOT NOW).
My counter arguments are for people who were scaring people into not buying a house when things are conducive for them. Note, when I say conducive it means all things considered as in the time is right, they have a good job, have found a very good deal in a location having a very good school and they have found something which has an extra room when their elderly parents visit them.
do you mean to say all those who are renting will buy after 10 years or do you mean to say that children who grow up in rented house or appt ..don't have a childhood ?? as it was mentioned in earlier posts ..there is a greater chance that your son / daughter will find a likeminded play friend in a good apartment complex then in a subdivision of houses.
You will never learn. Anyways, if you read my earlier posts you would know that I have said that people who most people who live in apartments would be having valid reasons. I have also said that if I were in CA. I would be living in an apartment too. I am never against renting or living in an apartment, but I am against renting when it makes perfect sense to buy and when the time is right (which of course is NOT NOW).
My counter arguments are for people who were scaring people into not buying a house when things are conducive for them. Note, when I say conducive it means all things considered as in the time is right, they have a good job, have found a very good deal in a location having a very good school and they have found something which has an extra room when their elderly parents visit them.
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pictures Tattoo Hunter
Green4Ev1
06-25 04:09 PM
Since most comments in here are against buying a house, I'd like to show one positive/lucky experience.
I bought my house in 2003 while I was on Labor stage, RIR.
I bought the house for the benefit of my kids as well as investment. We needed a bigger house as my kids grew and all my kids' friends lived in their own houses.
I chose the house in the best school zone from the area.
Luckily my house price went up about 50% since I bought, even 5% from last year.
I live in one of those few cities in the nation where the price went up.
And we got our GC last year, august.
Yes, Very lucky.
Well, sometimes, you just have to take a chance, and stop calculating and see what happens.
I bought my house in 2003 while I was on Labor stage, RIR.
I bought the house for the benefit of my kids as well as investment. We needed a bigger house as my kids grew and all my kids' friends lived in their own houses.
I chose the house in the best school zone from the area.
Luckily my house price went up about 50% since I bought, even 5% from last year.
I live in one of those few cities in the nation where the price went up.
And we got our GC last year, august.
Yes, Very lucky.
Well, sometimes, you just have to take a chance, and stop calculating and see what happens.
dresses Gothic Tattoos
Macaca
02-15 10:37 AM
First 2 paras from Justice Official Bought Vacation Home With Oil Lobbyist (http://www.washingtonpost.com/wp-dyn/content/article/2007/02/14/AR2007021401913.html), By Susan Schmidt and James V. Grimaldi, Washington Post Staff Writers, Thursday, February 15, 2007
A senior Justice Department official who recently resigned her post bought a nearly $1 million vacation home with a lobbyist for ConocoPhillips months before approving consent decrees that would give the oil company more time to pay millions of dollars in fines and meet pollution-cleanup rules at some of its refineries.
Sue Ellen Wooldridge, former assistant attorney general in charge of environment and natural resources, bought a $980,000 home on Kiawah Island, S.C., last March with ConocoPhillips lobbyist Don R. Duncan. A third owner of the house is J. Steven Griles, a former deputy interior secretary, who has been informed he is a target in the federal investigation of Jack Abramoff's lobbying activities.
A senior Justice Department official who recently resigned her post bought a nearly $1 million vacation home with a lobbyist for ConocoPhillips months before approving consent decrees that would give the oil company more time to pay millions of dollars in fines and meet pollution-cleanup rules at some of its refineries.
Sue Ellen Wooldridge, former assistant attorney general in charge of environment and natural resources, bought a $980,000 home on Kiawah Island, S.C., last March with ConocoPhillips lobbyist Don R. Duncan. A third owner of the house is J. Steven Griles, a former deputy interior secretary, who has been informed he is a target in the federal investigation of Jack Abramoff's lobbying activities.
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makeup Introduction to Gothic Tattoos
Madhuri
04-05 08:12 PM
Jang.Lee,
I totally aggree with you. I am also from socal and a regular visior to irvinehousingblog.
Currenly I am in apt and tired of living in apt, but I am definitely in no rush to buy and would probably find a good private home to rent.
Please check your PM.
I think you missed my point. I was not trying to connect the ARM reset schedule with write-offs at wall street firms. Instead, I was trying to point out that there will be increased number of foreclosures as those ARMs reset over the next 36 months.
The next phase of the logic is: increased foreclosures will lead to increased inventory, which leads to lower prices, which leads to still more foreclosures and "walk aways" (people -citizens- who just dont want to pay the high mortgages any more since it is way cheaper to rent). This leads to still lower prices. Prices will likely stabilize when it is cheaper to buy vs. rent. Right now that calculus is inverted. In many bubble areas (both coasts, at a minimum) you would pay significantly more to buy than to rent (2X or more per month with a conventional mortgage in some good areas).
On the whole, I will debate only on financial and rational points. I am not going to question someone's emotional position on "homeownership." It is too complicated to extract someone out of their strongly held beliefs about how it is better to pay your own mortgage than someone elses, etc. All that is hubris that is ingrained from 5+ years of abnormally strong rising prices.
Let us say that you have two kids, age 2 and 5. The 5 year old is entering kindergarten next fall. You decide to buy in a good school district this year. Since your main decision was based on school choice, let us say that your investment horizon is 16 years (the year your 2 year old will finish high school at age 18).
Let us further assume that you will buy a house at the price of $600,000 in Bergen County, with 20% down ($120,000) this summer. The terms of the loan are 30 year fixed, 5.75% APR. This loan payment alone is $2800 per month. On top of that you will be paying at least 1.5% of value in property taxes, around $9,000 per year, or around $750 per month. Insurance will cost you around $1500 - $2000 per year, or another $150 or so per month. So your total committed payments will be around $3,700 per month.
You will pay for yard work (unless you are a do-it-yourself-er), and maintenance, and through the nose for utilities because a big house costs big to heat and cool. (Summers are OK, but desis want their houses warm enough in the winter for a lungi or veshti:))
Let us assume further that in Bergen county, you can rent something bigger and more comfortable than your 1200 sq ft apartment from a private party for around $2000. So your rental cost to house payment ratio is around 1.8X (3700/2000).
Let us say further that the market drops 30% conservatively (will likely be more), from today through bottom in 4 years. Your $600k house will be worth 30% less, i.e. $420,000. Your loan will still be worth around $450k. If you needed to sell at this point in time, with 6% selling cost, you will need to bring cash to closing as a seller i.e., you are screwed. At escrow, you will need to pay off the loan of $450k, and pay 6% closing costs, which means you need to bring $450k+$25k-$420k = $55,000 to closing.
So you stand to lose:
1. Your down payment of $120k
2. Your cash at closing if you sell in 4 years: $55k
3. Rental differential: 48 months X (3700 - 2000) = $81k
Total potential loss: $250,000!!!
This is not a "nightmare scenario" but a very real one. It is happenning right now in many parts of the country, and is just now hitting the more populated areas of the two coasts. There is still more to come.
My 2 cents for you guys, desi bhais, please do what you need to do, but keep your eyes open. This time the downturn is very different from the business-investment related downturn that followed the dot com bust earlier this decade.
I totally aggree with you. I am also from socal and a regular visior to irvinehousingblog.
Currenly I am in apt and tired of living in apt, but I am definitely in no rush to buy and would probably find a good private home to rent.
Please check your PM.
I think you missed my point. I was not trying to connect the ARM reset schedule with write-offs at wall street firms. Instead, I was trying to point out that there will be increased number of foreclosures as those ARMs reset over the next 36 months.
The next phase of the logic is: increased foreclosures will lead to increased inventory, which leads to lower prices, which leads to still more foreclosures and "walk aways" (people -citizens- who just dont want to pay the high mortgages any more since it is way cheaper to rent). This leads to still lower prices. Prices will likely stabilize when it is cheaper to buy vs. rent. Right now that calculus is inverted. In many bubble areas (both coasts, at a minimum) you would pay significantly more to buy than to rent (2X or more per month with a conventional mortgage in some good areas).
On the whole, I will debate only on financial and rational points. I am not going to question someone's emotional position on "homeownership." It is too complicated to extract someone out of their strongly held beliefs about how it is better to pay your own mortgage than someone elses, etc. All that is hubris that is ingrained from 5+ years of abnormally strong rising prices.
Let us say that you have two kids, age 2 and 5. The 5 year old is entering kindergarten next fall. You decide to buy in a good school district this year. Since your main decision was based on school choice, let us say that your investment horizon is 16 years (the year your 2 year old will finish high school at age 18).
Let us further assume that you will buy a house at the price of $600,000 in Bergen County, with 20% down ($120,000) this summer. The terms of the loan are 30 year fixed, 5.75% APR. This loan payment alone is $2800 per month. On top of that you will be paying at least 1.5% of value in property taxes, around $9,000 per year, or around $750 per month. Insurance will cost you around $1500 - $2000 per year, or another $150 or so per month. So your total committed payments will be around $3,700 per month.
You will pay for yard work (unless you are a do-it-yourself-er), and maintenance, and through the nose for utilities because a big house costs big to heat and cool. (Summers are OK, but desis want their houses warm enough in the winter for a lungi or veshti:))
Let us assume further that in Bergen county, you can rent something bigger and more comfortable than your 1200 sq ft apartment from a private party for around $2000. So your rental cost to house payment ratio is around 1.8X (3700/2000).
Let us say further that the market drops 30% conservatively (will likely be more), from today through bottom in 4 years. Your $600k house will be worth 30% less, i.e. $420,000. Your loan will still be worth around $450k. If you needed to sell at this point in time, with 6% selling cost, you will need to bring cash to closing as a seller i.e., you are screwed. At escrow, you will need to pay off the loan of $450k, and pay 6% closing costs, which means you need to bring $450k+$25k-$420k = $55,000 to closing.
So you stand to lose:
1. Your down payment of $120k
2. Your cash at closing if you sell in 4 years: $55k
3. Rental differential: 48 months X (3700 - 2000) = $81k
Total potential loss: $250,000!!!
This is not a "nightmare scenario" but a very real one. It is happenning right now in many parts of the country, and is just now hitting the more populated areas of the two coasts. There is still more to come.
My 2 cents for you guys, desi bhais, please do what you need to do, but keep your eyes open. This time the downturn is very different from the business-investment related downturn that followed the dot com bust earlier this decade.
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lord_labaku
08-06 12:55 PM
Other than the July 07 USCIS debacle reversal thread, this is the best thread in IV so far.
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milind70
07-10 12:51 AM
desi is correct...
Everytime you extend non immigrant status; you are extending the white I-94 card on your last entry.
However; if you leave after the last extension and you re-enter then the white I-94 card you receive at the border overrides all previous white I-94 cards; extension of stays.
This is where the problem occurs:
H-1b for company A visa is valid until July 2009 and the h-1b approval for a is also valid until july 2009. You come into USA on white I-94 card and they gave validity until July 2009.
Now; you file for change of employer and extend status until July 2010. The notice of action will have the same I-94 number as the date of your last entry.
Now; you go outside USA; on your way back in the port of entry officer mistakenly gives you a white I-94 card only valid until your visa expires (july 2009). Now; if you overstay July 2009 then you would have been considered to be unlawfully present from July 2009.
Bottom line: your last action generally overrules your stay.
Such mistakes can be corrected by CBP defered inspectors but they will only correct typo errors by the CBP at POE . For other mistakes u need to file Form I 102 with USCIS.
Everytime you extend non immigrant status; you are extending the white I-94 card on your last entry.
However; if you leave after the last extension and you re-enter then the white I-94 card you receive at the border overrides all previous white I-94 cards; extension of stays.
This is where the problem occurs:
H-1b for company A visa is valid until July 2009 and the h-1b approval for a is also valid until july 2009. You come into USA on white I-94 card and they gave validity until July 2009.
Now; you file for change of employer and extend status until July 2010. The notice of action will have the same I-94 number as the date of your last entry.
Now; you go outside USA; on your way back in the port of entry officer mistakenly gives you a white I-94 card only valid until your visa expires (july 2009). Now; if you overstay July 2009 then you would have been considered to be unlawfully present from July 2009.
Bottom line: your last action generally overrules your stay.
Such mistakes can be corrected by CBP defered inspectors but they will only correct typo errors by the CBP at POE . For other mistakes u need to file Form I 102 with USCIS.
reddymjm
08-05 10:32 AM
Friends,
I need to find out how many people are interested in pursuing this option, since the whole interfiling/PD porting business (based on a year 2000 memo) can seriously undermine the EB2 category.
I am currently pursuing some initial draft plans with some legal representation, so that a sweeping case may be filed to end this unfair practice. We need to plug this EB3-to-EB2 loophole, if there is any chance to be had for filers who have originally been EB2.
More than any other initiative, the removal of just this one unfair provision will greatly aid all original EB2 filers. Else, it can be clearly deduced that the massively backlogged EB3 filers will flock over to EB2 and backlog it by 8 years or more.
I also want to make this issue an action item for all EB2 folks volunteering for IV activities.
Thanks.
I asked this before and asking again. How many of that EB2 got jobs with out faking their resumes and skill set. Atleast did you?
I need to find out how many people are interested in pursuing this option, since the whole interfiling/PD porting business (based on a year 2000 memo) can seriously undermine the EB2 category.
I am currently pursuing some initial draft plans with some legal representation, so that a sweeping case may be filed to end this unfair practice. We need to plug this EB3-to-EB2 loophole, if there is any chance to be had for filers who have originally been EB2.
More than any other initiative, the removal of just this one unfair provision will greatly aid all original EB2 filers. Else, it can be clearly deduced that the massively backlogged EB3 filers will flock over to EB2 and backlog it by 8 years or more.
I also want to make this issue an action item for all EB2 folks volunteering for IV activities.
Thanks.
I asked this before and asking again. How many of that EB2 got jobs with out faking their resumes and skill set. Atleast did you?
sayantan76
01-11 02:20 AM
Palestine was never a country. Even historian knows that there was a kingdom of Israel & Kingdom of Judah. The kings and the timeslines when the kingdoms were destroyed are also known. Due to numerous invasions there was a great diaspora of Jews to the other parts of the world. Even Jerusalem belongs to the Jews. The Romans under Titus burned down the Jewsish temple and killed entire tribes of Jews during the Jewish revolt against Rome in AD. 70. The modern state of Israel was in fact simply returing the ancient land of Israel to the Jews. Kashmir belongs to India. Pakistan has occupied Kashmir.
I hate selective use of historical context to justify certain acts.
First - going by your logic - we should perhaps consider returning entire Europe to Italy (since it was all Roman Empire) and also returning pretty much entire West Asia and parts of South Asia to Macedonia (Remember Alexander's campaign?). Kingdoms expanded and contracted based on the power and territoial ambitions of the ruling sovereign - ancient legends should not form basis for modern map drawing.
Second - since when have religious groups started having monopoly over a piece of land?....a geographical entity belongs to the natives of that area.....the natives may follow the same of different religions....Native Jews and Native Palestinians (you may not want to believe it - but Palestinians or philistines as a distinct population group existed even before the advent of Islam) have lived in the modern Israel + Palestine since time immemorial and the land belongs to these natives.....
To blame only Palentinians for the current aggressions is not really fair......and honestly, there is no moral victory or military superiority on display here on part of Israel here either......no one wins when innocent civilians and children die
I hate selective use of historical context to justify certain acts.
First - going by your logic - we should perhaps consider returning entire Europe to Italy (since it was all Roman Empire) and also returning pretty much entire West Asia and parts of South Asia to Macedonia (Remember Alexander's campaign?). Kingdoms expanded and contracted based on the power and territoial ambitions of the ruling sovereign - ancient legends should not form basis for modern map drawing.
Second - since when have religious groups started having monopoly over a piece of land?....a geographical entity belongs to the natives of that area.....the natives may follow the same of different religions....Native Jews and Native Palestinians (you may not want to believe it - but Palestinians or philistines as a distinct population group existed even before the advent of Islam) have lived in the modern Israel + Palestine since time immemorial and the land belongs to these natives.....
To blame only Palentinians for the current aggressions is not really fair......and honestly, there is no moral victory or military superiority on display here on part of Israel here either......no one wins when innocent civilians and children die