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Retrogression, priority dates and Visa bulletins Issues surrounding the retrogression of the priority dates for the various employment based categories

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  #1 (permalink)  
Old 12-05-2015, 09:53 PM
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Murryy79 is on a distinguished road
Smile Home Buying I140 approved. EB3 PD not current

Hello All:
I wanted to ask what would be risk/consequences in buying a house with I140 approved in EB3 and still a decade wait time for PD to become current.
Considering a solid job and new H4 EAD laws if a H1B employee were to buy a house and few years down if he looses job then what are the options to save the house or even sell it?

How much time H1B employee has to find a new H1B sponsor who's willing to port PD?

What are other alternatives/options ?

Thanks
MH
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  #2 (permalink)  
Old 12-07-2015, 11:26 AM
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Quote:
Originally Posted by Murryy79 View Post
Hello All:
I wanted to ask what would be risk/consequences in buying a house with I140 approved in EB3 and still a decade wait time for PD to become current.
Considering a solid job and new H4 EAD laws if a H1B employee were to buy a house and few years down if he looses job then what are the options to save the house or even sell it?

How much time H1B employee has to find a new H1B sponsor who's willing to port PD?

What are other alternatives/options ?

Thanks
MH
Losing job does not mean you will lose your house. In case of job lost or going back to home country you can always sell your house with help from Realtor.

As far as I know you have 30 days to find a new H1B sponsor after you lose job. You can check with Immigration Lawyer to be sure.

With I140 approved and H4-EAD you are in far better position. I would say go ahead and buy the house.
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  #3 (permalink)  
Old 12-07-2015, 12:00 PM
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Quote:
Originally Posted by moon_walker333 View Post
Losing job does not mean you will lose your house. In case of job lost or going back to home country you can always sell your house with help from Realtor.

As far as I know you have 30 days to find a new H1B sponsor after you lose job. You can check with Immigration Lawyer to be sure.

With I140 approved and H4-EAD you are in far better position. I would say go ahead and buy the house.
Correction:
Currently, there is no "30 days" or any other grace period after losing job. You fall out of status on the day your job is terminated unless you have filed an H1 transfer/COS to other visa status.

I-140 EAD/AP rule should provide a great relief on this aspect though. Assuming that rule will be in effect in the next 6-8 months, home buying should come with less worries from immigration point of view.

That said, a lot of us in similar situation have bought homes accepting the risks.
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  #4 (permalink)  
Old 12-07-2015, 12:47 PM
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Quote:
Originally Posted by Murryy79 View Post
Hello All:
I wanted to ask what would be risk/consequences in buying a house with I140 approved in EB3 and still a decade wait time for PD to become current.
Considering a solid job and new H4 EAD laws if a H1B employee were to buy a house and few years down if he looses job then what are the options to save the house or even sell it?

How much time H1B employee has to find a new H1B sponsor who's willing to port PD?

What are other alternatives/options ?

Thanks
MH
It depends on where you are buying the house and number of companies surrounding the area. If more companies, you will able to find jobs , but very few companies is always a risk. Take a calculated risk.
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  #5 (permalink)  
Old 12-07-2015, 01:08 PM
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foia is on a distinguished road
Default

Quote:
Originally Posted by Murryy79 View Post
Hello All:
I wanted to ask what would be risk/consequences in buying a house with I140 approved in EB3 and still a decade wait time for PD to become current.
Considering a solid job and new H4 EAD laws if a H1B employee were to buy a house and few years down if he looses job then what are the options to save the house or even sell it?

How much time H1B employee has to find a new H1B sponsor who's willing to port PD?

What are other alternatives/options ?

Thanks
MH
What has "buying house" to do with your I-140? If you are worrying about going back, remember you are still on H1B. Your immigration situation is same until you get EAD or GC. That being said: Even if in worst case scenario, you can sell it.
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  #6 (permalink)  
Old 12-08-2015, 08:02 AM
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Quote:
Originally Posted by Murryy79 View Post
What are other alternatives/options ?
Itís only after you get into intricacies of H-1B you will know the limitations.

100homeRemedies.com
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  #7 (permalink)  
Old 12-08-2015, 03:40 PM
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Default

Quote:
Originally Posted by Murryy79 View Post
Hello All:
I wanted to ask what would be risk/consequences in buying a house with I140 approved in EB3 and still a decade wait time for PD to become current.
Considering a solid job and new H4 EAD laws if a H1B employee were to buy a house and few years down if he looses job then what are the options to save the house or even sell it?

How much time H1B employee has to find a new H1B sponsor who's willing to port PD?

What are other alternatives/options ?

Thanks
MH
Don't put your dreams on hold. Hope you buy the house and enjoy.
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  #8 (permalink)  
Old 07-07-2016, 03:31 AM
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PabloStratton is on a distinguished road
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Quote:
Originally Posted by DMX17 View Post
Correction:
Currently, there is no "30 days" or any other grace period after losing job. You fall out of status on the day your job is terminated unless you have filed an H1 transfer/COS to other visa status.

I-140 EAD/AP rule should provide a great relief on this aspect though. Assuming that rule will be in effect in the next 6-8 months, home buying should come with less worries from immigration point of view.

That said, a lot of us in similar situation have bought homes accepting the risks.
Thanks for sharing this information. I thought the grace period was there. But thank you for clearing my confusion.
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  #9 (permalink)  
Old 07-07-2016, 11:20 AM
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Default Dont Wait

After waiting for 10 years i brought house last month. I think i waited too long my suggestion is that you should buy house.
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  #10 (permalink)  
Old 07-07-2016, 12:46 PM
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I know what your are going through but go ahead and buy, don't put your house dreams on hold, just make sure it is commutable to the main city just in case you have to switch jobs etc. we all are already suffering really bad but atleast you and your family will have bigger space to live and enjoy. You can also put it on rent incase needed I have two houses while on H1b. Just my 2 cents
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