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  #16 (permalink)  
Old 09-23-2008, 09:46 AM
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Default Good idea

Quote:
Originally Posted by nixstor View Post
As completely unrelated these two issues are (from a law maker's perspective) on a normal day, these are possibly those times when each of these issues can help the other.

END OF CONTENT
Nixstor: I know how responsible person you are. You must have given lot of thought to this. Even if 20-30% people buy house, that reduces the no of applicants waiting for GC which will make it faster for the people that do not want to buy now for various reasons.

I fully support this idea. Thanks for bringing such good and justified proposal.
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  #17 (permalink)  
Old 09-23-2008, 10:18 AM
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Default

My friend, the purpose of green card is to allow you to convert into citizenship sometime down the road. If you are not ready and willing to spend your saved money in the US and better its economy, then how can you expect the US goverment to help you?
If you do not have enough money, then you are not paid the prevailing wage or the wage mentioned on the green card. If you do not have a job, how can your green card process still be there arent you illegal already?
To add to all the above, as nixtor has stated, reduced backlogs help everybody.

Quote:
Originally Posted by aps View Post
This is not fair and good idea. what about people waiting in line for years and invested their money elsewhere because of this green card delays or those who do not have enough money and job in this market situation. All of the sudden you are brining this idea. This is not fair. This is kind of buying green card. There is a investment based green card category available for that. I request you to go through that channel if you are rich. Not all employment based green card seekers are rich. Please keep that in mind.

thanks,
aps
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  #18 (permalink)  
Old 09-23-2008, 10:42 AM
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Default

Quote:
Originally Posted by Caliber View Post
Nixstor: I know how responsible person you are. You must have given lot of thought to this. Even if 20-30% people buy house, that reduces the no of applicants waiting for GC which will make it faster for the people that do not want to buy now for various reasons.

I fully support this idea. Thanks for bringing such good and justified proposal.

Definetely a good idea, I completely endorse it. Even for people who arent eligible/dont have money right away- dont you think reducing the line will eventually help all of us. we dont need to jump 100 ft at once (read relief for all) as long as we are able to jump 10ft once without injuring ourself. Also for people cribbing about seperating rich, anywhere in the world i.e the concept after all they are taking huge risk by investing their hard earned money (just like 20% people contribute to 80%of taxes) they need a break somewhere.

Last edited by reddy2cool; 09-23-2008 at 10:44 AM.
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  #19 (permalink)  
Old 09-23-2008, 10:50 AM
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Default what @#%@!

this is totally lame idea!
immigration policy is a social and an economic issue..not just economics..
They dont want too many ppl from one country ..that is the reason for 7% quota...why cant you digest that fact...
we can fight injustice if we feel we are being treated in an unfair manner..
but this carrot-and stick approach will back fire...

i know many who have bought homes even when they were on H1...
you must be really creative to link EB GC and purchasing a house!



Quote:
Originally Posted by nixstor View Post
As completely unrelated these two issues are (from a law maker's perspective) on a normal day, these are possibly those times when each of these issues can help the other.

IV has been discussing about the possibility of one for two solution (partial). The idea is to request congress to exempt EB applicants & their dependents from numerical limits of the Immigrant visas, if they buy a home. It is my belief that market sentiment is the most important thing in any financial market(s) and the housing prospects look pretty bleak. There are lot of members in the EB community that have NOT bought their own home, even though they could afford one because of the uncertainty with EB GC. IV's idea is to bridge the financial committees and judiciary committees in the House/Senate and see if corresponding Chairman/Ranking members are willing to listen. Things are moving so fast with the 700bn USD bail out plan and we will NOT have time to do things the normal way, through our counsel. We have to present this idea to the corresponding staff members of key members of congress (see list below) and see if this gets traction now or going forward.

Please do not bring EB-5 discussion/comparison here. The proposed partial solution is different from EB-5 in that EB-5 investors invest money and we are investing in our future with a genuine intention of making USA our permanent home.


If you already have a home, thats fine. Any such legislation will reduce the wait times in EB categories and we need housing markets to rebound for a safer economy before the ripple effects are felt every where.


Who to write to


Staff members(Chief of Staff, Legislative LA, Financial LA, Legislative Director) of Chairman/Ranking members of House/Senate Judiciary committee & Finance/Banking committee, Staff members of your representative and your senators. Please find staff members of the committees in the spreadsheet.

You can find your representative & senator staff members on this website.

Please use valid email addresses and NOT fictitious/junk mail. It undermines the whole purpose and our emails will be flagged by mail scanners / spam checkers as some thing similar to famous Nigeria bank account scams.


Email Subject: Proposal to alleviate current US Housing/economic crisis


Content/Message


SUMMARY


This proposal alleviates the current US economic crisis, by motivating the US high skilled, legal immigrant workers to purchase homes. The size of this immigrant population is approximately 800,000 individuals. This effort if successful would inject up to US$ 20Billion approximately into the economy (approximately US$ 100 Billion in houses sold across the country) , while at the same time directing this money into the root cause of the economic crisis – the illiquidity of the national housing market. The above calculation is done
assuming a median US home price of $212,400 and buyers making a down-payment of 20% of the cost of the home. Roughly estimating 400,000 buyers.

BACKGROUND

Undoubtedly, we are all devastated by the shake up on Wall Street in the past 15 days. Experts agree that the underpinning problem is the housing crisis caused by sub-prime mortgage loans. Many of us, who cannot afford our monthly mortgage payments are losing homes and putting them up for sale and foreclosure, which further adds to the crisis. At the same time, most of the Employment-based (EB) immigrant community would like to purchase homes and make the United States a permanent home for their families. These EB immigrants however, are living in a state of limbo, mostly in rental apartments because of the delays and uncertainties involved with the EB immigration procedure. The wait times in EB categories are exacerbated by the delays in processing by USCIS, even though eligible applicants have filed for Permanent Residency also known as Adjustment of Status. Such processing delays have resulted in the wastage of 218,000 immigrant visa numbers (Page 52 of USCIS Ombudsman Annual report 2007). The current Department of State visa bulletin shows 7+ years of wait times in certain categories. We strongly believe that legislation can be worked out in such a way that the housing markets all over the country can move towards recovery, while at the same time motivating the Green Card applicants to catalyze this recovery.

It should be noted that this proposal by no means brings more immigrant workers into the US. The workers in the EB, skilled category are already present in the US, doing skilled jobs that no US worker is available to do. They are part of the long queue of backlogged cases that USICIS will eventually process; however, this wait can take years and in that case could not be used as a tool to minimize the course of the current economic crisis.

SOLUTION

Congress can pass legislation that exempts EB green card applicants and their dependents from the numerical limits of visa numbers, provided applicant(s) have bought a home making 20% down payment on the sale price of the home, for a time period deemed necessary by the congress.


How can Employment based Immigrants help alleviate the housing problem?

(1) Employment based immigrants are highly skilled and are employed in occupations such as Software, IT, Health care, Energy, Finance, Education and Research & Development across the United States.

(2) Average income of these individuals/households is around 65,000/130,000 USD.

(3) All these Employment based immigrants have gone through Department of Labor’s recruiting process, which certifies that there is no willing, able and qualified US Citizen to do the job.

(4) Most of the Employment based immigrants have excellent credit history and good source of income to make the payments needed for their home mortgage.

(5) By requiring a 20% down payment from this group of buyers, Congress can directly channel this money to where it is need most – at the banks.

(6) Employment based green card applicants have been living in the United States for 6-8 years. Many of them have US graduate degrees in their fields of expertise. These applicants are well versed with the American culture and will not change the cultural landscape.

(7) Financial burden on US government and treasury will be reduced drastically if the glut of houses in the market decreases.


As a member of the community that wants to make the US its permanent home, I want to contribute to a solution that helps USA and US during these tough times. I sincerely believe that the 30 year commitment on mortgages by Employment based immigrants in the housing market, backed by solid, risk free mortgages can turn the down ward spiral in the housing market into a upward spiral.

END OF CONTENT
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  #20 (permalink)  
Old 09-23-2008, 10:59 AM
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Thumbs up What and idea sirji

An excellent idea so far from any member. This can certainly make govt/congress serious about EB issues. And if govt really goes ahead and does something as mentioned in the post, it'll benefit current GC waiter homeowners to get their GC fast and also persuade GC waiters who are still on fence about home buying decision.
I fully support this effort.
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  #21 (permalink)  
Old 09-23-2008, 11:10 AM
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Thumbs up Wonderfull Idea. This shows that we can use our inovative ideas to bail US economy.

Quote:
Originally Posted by JunRN View Post
Asking for exemption from quota will cause this proposal to fail. My suggestion:

Of the 10,000 available visas per year for EB5, only about 3k to 4k are being used. How about if one buy a house and give a minimum $100,000 cash payment (not credit in US), he will get a temporary greencard from the EB5 visa pool. If after 2 years, the house is occupied and owned by the same person without problems with credit, he will get a permanent GC. This is on top of meeting the requirements of the category he is in.

Sorry for bringing EB5 in my comments.

This is just my opinion.

I totally suppor this idea. This shows that we can use our innovation to bail out US economy and we try our level best to help the country we have selected to make our home. As the saying goes - A friend in need is a friend in deed. So a citizen(LPR or to-be-LPR who helps) in need is a citizen in deed.

Earlier most of the time we used to cry about our problems - like wife not able to work or we are stuck in the same job and not able to get promotion.
I do not think anyone cares if our wife does not work or we do not get promotions.

People would care if we are able to show that giving us GC would help them in any way.

So this is one of the best way to show that we would be able to help our part to bring up the economy.

Thus I myself endorse this idea. Thanks Nixstor for putting forward this innovative idea to show that we all love USA and want this country to be economically strong.
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  #22 (permalink)  
Old 09-23-2008, 11:18 AM
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Default

Quote:
Originally Posted by nixstor View Post
As completely unrelated these two issues are (from a law maker's perspective) on a normal day, these are possibly those times when each of these issues can help the other.

IV has been discussing about the possibility of one for two solution (partial). The idea is to request congress to exempt EB applicants & their dependents from numerical limits of the Immigrant visas, if they buy a home. It is my belief that market sentiment is the most important thing in any financial market(s) and the housing prospects look pretty bleak. There are lot of members in the EB community that have NOT bought their own home, even though they could afford one because of the uncertainty with EB GC. IV's idea is to bridge the financial committees and judiciary committees in the House/Senate and see if corresponding Chairman/Ranking members are willing to listen. Things are moving so fast with the 700bn USD bail out plan and we will NOT have time to do things the normal way, through our counsel. We have to present this idea to the corresponding staff members of key members of congress (see list below) and see if this gets traction now or going forward.

Please do not bring EB-5 discussion/comparison here. The proposed partial solution is different from EB-5 in that EB-5 investors invest money and we are investing in our future with a genuine intention of making USA our permanent home.


If you already have a home, thats fine. Any such legislation will reduce the wait times in EB categories and we need housing markets to rebound for a safer economy before the ripple effects are felt every where.


Who to write to


Staff members(Chief of Staff, Legislative LA, Financial LA, Legislative Director) of Chairman/Ranking members of House/Senate Judiciary committee & Finance/Banking committee, Staff members of your representative and your senators. Please find staff members of the committees in the spreadsheet.

You can find your representative & senator staff members on this website.

Please use valid email addresses and NOT fictitious/junk mail. It undermines the whole purpose and our emails will be flagged by mail scanners / spam checkers as some thing similar to famous Nigeria bank account scams.


Email Subject: Proposal to alleviate current US Housing/economic crisis


Content/Message


SUMMARY


This proposal alleviates the current US economic crisis, by motivating the US high skilled, legal immigrant workers to purchase homes. The size of this immigrant population is approximately 800,000 individuals. This effort if successful would inject up to US$ 20Billion approximately into the economy (approximately US$ 100 Billion in houses sold across the country) , while at the same time directing this money into the root cause of the economic crisis – the illiquidity of the national housing market. The above calculation is done
assuming a median US home price of $212,400 and buyers making a down-payment of 20% of the cost of the home. Roughly estimating 400,000 buyers.

BACKGROUND

Undoubtedly, we are all devastated by the shake up on Wall Street in the past 15 days. Experts agree that the underpinning problem is the housing crisis caused by sub-prime mortgage loans. Many of us, who cannot afford our monthly mortgage payments are losing homes and putting them up for sale and foreclosure, which further adds to the crisis. At the same time, most of the Employment-based (EB) immigrant community would like to purchase homes and make the United States a permanent home for their families. These EB immigrants however, are living in a state of limbo, mostly in rental apartments because of the delays and uncertainties involved with the EB immigration procedure. The wait times in EB categories are exacerbated by the delays in processing by USCIS, even though eligible applicants have filed for Permanent Residency also known as Adjustment of Status. Such processing delays have resulted in the wastage of 218,000 immigrant visa numbers (Page 52 of USCIS Ombudsman Annual report 2007). The current Department of State visa bulletin shows 7+ years of wait times in certain categories. We strongly believe that legislation can be worked out in such a way that the housing markets all over the country can move towards recovery, while at the same time motivating the Green Card applicants to catalyze this recovery.

It should be noted that this proposal by no means brings more immigrant workers into the US. The workers in the EB, skilled category are already present in the US, doing skilled jobs that no US worker is available to do. They are part of the long queue of backlogged cases that USICIS will eventually process; however, this wait can take years and in that case could not be used as a tool to minimize the course of the current economic crisis.

SOLUTION

Congress can pass legislation that exempts EB green card applicants and their dependents from the numerical limits of visa numbers, provided applicant(s) have bought a home making 20% down payment on the sale price of the home, for a time period deemed necessary by the congress.


How can Employment based Immigrants help alleviate the housing problem?

(1) Employment based immigrants are highly skilled and are employed in occupations such as Software, IT, Health care, Energy, Finance, Education and Research & Development across the United States.

(2) Average income of these individuals/households is around 65,000/130,000 USD.

(3) All these Employment based immigrants have gone through Department of Labor’s recruiting process, which certifies that there is no willing, able and qualified US Citizen to do the job.

(4) Most of the Employment based immigrants have excellent credit history and good source of income to make the payments needed for their home mortgage.

(5) By requiring a 20% down payment from this group of buyers, Congress can directly channel this money to where it is need most – at the banks.

(6) Employment based green card applicants have been living in the United States for 6-8 years. Many of them have US graduate degrees in their fields of expertise. These applicants are well versed with the American culture and will not change the cultural landscape.

(7) Financial burden on US government and treasury will be reduced drastically if the glut of houses in the market decreases.


As a member of the community that wants to make the US its permanent home, I want to contribute to a solution that helps USA and US during these tough times. I sincerely believe that the 30 year commitment on mortgages by Employment based immigrants in the housing market, backed by solid, risk free mortgages can turn the down ward spiral in the housing market into a upward spiral.

END OF CONTENT
Great Draft ..Thanks IV
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  #23 (permalink)  
Old 09-23-2008, 11:28 AM
Administrator
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Default

We believe that this is a great idea to address our issues and at the same time allows us to do our share in the time of crisis. Please send the personalized email communication ASAP as the key lawmakers are in the process of discussing possible package to address the economic/housing crisis.

Even if this is not designed to directly help your situation, please understand that if such a proposal is accepted, it will make most green card applicants exempt which will free up visa numbers for those who do not want to seek such an exemption. So it is a win-win situation for all. Kindly send communications ASAP.

Thanks,
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  #24 (permalink)  
Old 09-23-2008, 11:31 AM
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Default gth

dude, suck in your hot air and sit down on the bench.

Quote:
Originally Posted by aps View Post
This is not fair and good idea. what about people waiting in line for years and invested their money elsewhere because of this green card delays or those who do not have enough money and job in this market situation. All of the sudden you are brining this idea. This is not fair. This is kind of buying green card. There is a investment based green card category available for that. I request you to go through that channel if you are rich. Not all employment based green card seekers are rich. Please keep that in mind.

thanks,
aps
__________________
--------------
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I-485 RD: July 20 2007
I-485 ND: Sept 29 2007
EAD: on second EAD
have used AC21
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  #25 (permalink)  
Old 09-23-2008, 11:36 AM
Senior Member
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Thumbs up great idea and a suggestion

hi! fantastic idea... this will exclude me if this legislation is for primary home only. but if includes any home, i am willing to buy one more home...

in any case, i would suggest that this content be edited and the housing problem and our solution to it be brought closer together and upwards in the content... the IV community's pain can be sent downwards...

great stuff... i will write to people...

Quote:
Originally Posted by nixstor View Post
As completely unrelated these two issues are (from a law maker's perspective) on a normal day, these are possibly those times when each of these issues can help the other.

IV has been discussing about the possibility of one for two solution (partial). The idea is to request congress to exempt EB applicants & their dependents from numerical limits of the Immigrant visas, if they buy a home. It is my belief that market sentiment is the most important thing in any financial market(s) and the housing prospects look pretty bleak. There are lot of members in the EB community that have NOT bought their own home, even though they could afford one because of the uncertainty with EB GC. IV's idea is to bridge the financial committees and judiciary committees in the House/Senate and see if corresponding Chairman/Ranking members are willing to listen. Things are moving so fast with the 700bn USD bail out plan and we will NOT have time to do things the normal way, through our counsel. We have to present this idea to the corresponding staff members of key members of congress (see list below) and see if this gets traction now or going forward.

Please do not bring EB-5 discussion/comparison here. The proposed partial solution is different from EB-5 in that EB-5 investors invest money and we are investing in our future with a genuine intention of making USA our permanent home.


If you already have a home, thats fine. Any such legislation will reduce the wait times in EB categories and we need housing markets to rebound for a safer economy before the ripple effects are felt every where.


Who to write to


Staff members(Chief of Staff, Legislative LA, Financial LA, Legislative Director) of Chairman/Ranking members of House/Senate Judiciary committee & Finance/Banking committee, Staff members of your representative and your senators. Please find staff members of the committees in the spreadsheet.

You can find your representative & senator staff members on this website.

Please use valid email addresses and NOT fictitious/junk mail. It undermines the whole purpose and our emails will be flagged by mail scanners / spam checkers as some thing similar to famous Nigeria bank account scams.


Email Subject: Proposal to alleviate current US Housing/economic crisis


Content/Message


SUMMARY


This proposal alleviates the current US economic crisis, by motivating the US high skilled, legal immigrant workers to purchase homes. The size of this immigrant population is approximately 800,000 individuals. This effort if successful would inject up to US$ 20Billion approximately into the economy (approximately US$ 100 Billion in houses sold across the country) , while at the same time directing this money into the root cause of the economic crisis – the illiquidity of the national housing market. The above calculation is done
assuming a median US home price of $212,400 and buyers making a down-payment of 20% of the cost of the home. Roughly estimating 400,000 buyers.

BACKGROUND

Undoubtedly, we are all devastated by the shake up on Wall Street in the past 15 days. Experts agree that the underpinning problem is the housing crisis caused by sub-prime mortgage loans. Many of us, who cannot afford our monthly mortgage payments are losing homes and putting them up for sale and foreclosure, which further adds to the crisis. At the same time, most of the Employment-based (EB) immigrant community would like to purchase homes and make the United States a permanent home for their families. These EB immigrants however, are living in a state of limbo, mostly in rental apartments because of the delays and uncertainties involved with the EB immigration procedure. The wait times in EB categories are exacerbated by the delays in processing by USCIS, even though eligible applicants have filed for Permanent Residency also known as Adjustment of Status. Such processing delays have resulted in the wastage of 218,000 immigrant visa numbers (Page 52 of USCIS Ombudsman Annual report 2007). The current Department of State visa bulletin shows 7+ years of wait times in certain categories. We strongly believe that legislation can be worked out in such a way that the housing markets all over the country can move towards recovery, while at the same time motivating the Green Card applicants to catalyze this recovery.

It should be noted that this proposal by no means brings more immigrant workers into the US. The workers in the EB, skilled category are already present in the US, doing skilled jobs that no US worker is available to do. They are part of the long queue of backlogged cases that USICIS will eventually process; however, this wait can take years and in that case could not be used as a tool to minimize the course of the current economic crisis.

SOLUTION

Congress can pass legislation that exempts EB green card applicants and their dependents from the numerical limits of visa numbers, provided applicant(s) have bought a home making 20% down payment on the sale price of the home, for a time period deemed necessary by the congress.


How can Employment based Immigrants help alleviate the housing problem?

(1) Employment based immigrants are highly skilled and are employed in occupations such as Software, IT, Health care, Energy, Finance, Education and Research & Development across the United States.

(2) Average income of these individuals/households is around 65,000/130,000 USD.

(3) All these Employment based immigrants have gone through Department of Labor’s recruiting process, which certifies that there is no willing, able and qualified US Citizen to do the job.

(4) Most of the Employment based immigrants have excellent credit history and good source of income to make the payments needed for their home mortgage.

(5) By requiring a 20% down payment from this group of buyers, Congress can directly channel this money to where it is need most – at the banks.

(6) Employment based green card applicants have been living in the United States for 6-8 years. Many of them have US graduate degrees in their fields of expertise. These applicants are well versed with the American culture and will not change the cultural landscape.

(7) Financial burden on US government and treasury will be reduced drastically if the glut of houses in the market decreases.


As a member of the community that wants to make the US its permanent home, I want to contribute to a solution that helps USA and US during these tough times. I sincerely believe that the 30 year commitment on mortgages by Employment based immigrants in the housing market, backed by solid, risk free mortgages can turn the down ward spiral in the housing market into a upward spiral.

END OF CONTENT
__________________
--------------
PD: Mar 2005
Cat: EB2
I-140 AD: Jan 2008
I-485 RD: July 20 2007
I-485 ND: Sept 29 2007
EAD: on second EAD
have used AC21
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  #26 (permalink)  
Old 09-23-2008, 11:38 AM
aps aps is offline
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Default Not Fair and good idea

Quote:
Originally Posted by jayleno View Post
My friend, the purpose of green card is to allow you to convert into citizenship sometime down the road. If you are not ready and willing to spend your saved money in the US and better its economy, then how can you expect the US goverment to help you?
If you do not have enough money, then you are not paid the prevailing wage or the wage mentioned on the green card. If you do not have a job, how can your green card process still be there arent you illegal already?
To add to all the above, as nixtor has stated, reduced backlogs help everybody.
Jayleno,

You are not really interested in helping, otherwise you would have bought a house and put economy back on track. But you are taking advantage of the current situation. My point is not every body has money at present in hand to buy a house. Every body likes to spend their money and settle down here, otherwise no body would have applied for green card. This plan is proposed all of the sudden and it is not fair. If i consider people, who lost jobs because of this worst market, you are twisting the story by talking prevailing wages and illegal status. FYI, I have potential to buy a home here and currently working and making enough money here. I request you answer the question only, not twist.

aps
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  #27 (permalink)  
Old 09-23-2008, 11:48 AM
aps aps is offline
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Default I support, if most of us like it

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Originally Posted by chi_shark View Post
dude, suck in your hot air and sit down on the bench.
I support this, if most of us like this. I considered people with one income and who lost jobs in this economic situation. If this idea is supported by many members then i will also support.

aps
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  #28 (permalink)  
Old 09-23-2008, 11:57 AM
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Default Great Idea

I support this idea.
Let us not deliberate about the details about the proposal. Let us leave it to the lawmakers to broaden the scope of the proposal. The key is to make the lawmakers aware that the EB immigrants can and are willing to provide a helping hand to improve the current housing crisis.
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  #29 (permalink)  
Old 09-23-2008, 11:57 AM
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Default

already bought a house in 2004.. so no immediate use for me! but I do like the idea! it will surely benefit me if the queue reduces even by 20%

although i wonder if there are people out there who really want to purchase a house in this financial crisis ?!?!
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  #30 (permalink)  
Old 09-23-2008, 12:01 PM
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Default Right. If you none of the IV members oppose it now it will get passed

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Originally Posted by aps View Post
I support this, if most of us like this. I considered people with one income and who lost jobs in this economic situation. If this idea is supported by many members then i will also support.

aps
Dude, It is a proposal from one of IV folks. The chances if it becomeing enacted are 0.0001%.
Even if it does ,it takes few more people out of the queue.
I can't afford to buy a house either. If 10 people get out of the queue, the line will be that much shorter.
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