Financing an Adoption

Updated on November 10, 2008
S.P. asks from McKinney, TX
9 answers

My husband and I have tried for three long years to conceive a child of our own and have not been able to. I have a child from a previous marriage and my husband has adopted him. Now that we want to have a child of our own, we aren't able to. So we've decided to adopt. However, adopting a child can be very expensive and can put a huge financial strain on any family. Does anyone know of any type of assistance to adopt a child from foster care or maybe places that we could go to get a loan? We've tried regular banks and they won't loan us the money so we are very discouraged at this time! Any help would be appreciated! Thanks, S..

1 mom found this helpful

What can I do next?

  • Add yourAnswer own comment
  • Ask your own question Add Question
  • Join the Mamapedia community Mamapedia
  • as inappropriate
  • this with your friends

Featured Answers

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

A.K.

answers from Dallas on

I'm sorry, I don't know, but I know who does! Ginger, a local friend of mine, knows tons about it. Find her at ClarkChatter.blogspot.com.

More Answers

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

T.M.

answers from Dallas on

Hi, S.!
I have great news for you! My church in partnership with neighboring churches has formed an adoption support group. People in all stages of adoption come together to discuss various situations such as financing, domestic v international adoption, etc. We have lots of great information to share. Our next meeting will be Mon. Nov 10, 7-9 in room 4117 at Christ Church located at 4550 Legacy Dr.

We would love to have you join us. In the meantime, please check our www.generationsadoptions.org

We have a beautiful 14-month-old daughter thansk to the wonderful staff at Generations. Please send mail to me if you have any questions.

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

L.W.

answers from Dallas on

Have you talked to a OBGYN to see if he has any clients that would have a baby for adoption or know of a lawyer that would handle adoption paperwork for a nominal fee? Check within your church for a lawyer. never know. Good luck.

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

H.G.

answers from Dallas on

S.,
Hi my name is H. and I am the President of the Foster and Adoptive Parents of Collin County.
I too looked into adopting about 6 years ago and felt that fees being charged were outrageous. I felt that the money would be better used to start a college fund for my child!!! I looked into fostering to adopt and felt that this was a better option for me personally. Whether I was able to adopt my first foster child or my 50th I knew I would be making a difference in a childs life while they were in my home!
I was very lucky and my first placement is my adopted son.
CPS does reimburse you for the cost of the adoption.
I continue to foster and would love to adopt again. If you go to the Department of Family and Protective services (you can go to Google and type that in) then go to the tab regarding fostering/adoption you can find where they are having information meeting during the month of November. You must go to one of these to start the process of training to be a foster parent.
If you have any questions and want to contact me you can either do it though Mamasource or you can email me at [email protected]____.com.
H.

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

L.G.

answers from Dallas on

5/3 does adoption loans. Ukraine does independent adoptions and it is much cheaper. You represent yourself. You follow the instrucions of the facilitator. Go to www.Ukrainianangels.com. We did. Easy, and smooth sailing. We have had our daughter for almost 4 years now. Good Luck.

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

A.S.

answers from Dallas on

Hi Sara, I know it must be really hard for you. I am not sure of your situation but my husband and I own a home and got a line of credit from it to finance an adoption. Feel free to pm me if you have any questions.
Good luck!

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

A.J.

answers from Dallas on

Hi... i dont know what you story is or what you have tried but we tried for 7 years and now have 3 after we found the right dr that figured out what the problem was and treated it correctly...

as for money... if you have a house you could refinance it...

i wish you the best!
A. j

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

E.W.

answers from Dallas on

We are also interested in adoption and plan on doing it in a couple of years or so - we know we won't have a lot of money to do it so we also plan to go through the foster system. We thought about doing it this past year so I started collecting information - let me pass what I've found on to you. Many of the links contain info on financial assistance. Also, the last bit of info on the Adoption Coalition makes the point that there are never any fees to adopt through the foster system, which should be reassuring. One thing I have learned is that the government will a lot of times help finance the adoption too. Someone else below made the suggestion of their church having meetings regarding adoption - I know several churches that have these and they would be a great way to get more information.

First, if you live in Collin County, they have monthly meetings for foster parents and those interested in the foster system. Their website is not the easiest to maneuver but it has their contact info:

http://www.fapcc.com/index.shtml

This is another good website with lots of info:

http://www.adoptivefamilies.com/

Also, my mom had worked with an agency in helping them with their website, and I had tried to get in touch with her contact, but she is apparently very busy and we never synced up. I will go ahead and give you her info though, and maybe you will have better luck! Her contact info also has the websites that contain more info on adopting through the foster system and info regarding financial resources:

Tracy Eilers, D.M.
Executive Director
Adoption Coalition of Texas
4029 S. Capital of Texas Hwy, Suite 217
Austin, TX 78704
###-###-####
###-###-#### fax

www.adoptioncoalitiontx.org
www.heartgallerytexas.com

"Remember ~ there are no fees to adopt from the foster care system, regardless of what agency you work with!

The Adoption Coalition of Texas is a collaborative effort of private nonprofit child placing agencies (The Arrow Project, Homes4Good, Lutheran Social Services, Marywood Children and Families and Pathways Youth and Family Services) and Child Protective Services, all working together to find forever families for abused and neglected kids languishing in the foster care system."

Hope all this helps! Let me know if you have any questions and I would love to hear about your experience if you get a chance, since we would like to do this ourselves someday! =)

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

M.K.

answers from Dallas on

S.,
First of all I want to let you know that I have been down the same road and we decided to adopt 3 years ago and it was great. We are about to go through the process again. As far as financing, I can't give you much advice there other then to tell you a few things you might not know. You only pay a small fee up front and you don't pay the balance until you are matched with a birth mother (so you can start saving, and try and work on the loan thing during that time which could be several months). Also, you get a $10,000 tax Credit the year you adopt so that sort of helps at some point down the road. If you go through Foster Care program, you pay next to nothing. My friends did that and they now have THREE children that way. Another friend of mine, adopted and put some of the money on a no interest credit card and paid it off during the next year. Good Luck with everything. you won't regret it. It's a wonderful experience.

For Updates and Special Promotions
Follow Us

Related Questions

Related Searches