Loan

Timeframe of Adoption: 2 1/2 years

My husband and I took out a 2nd mortgage on our house to start our adoptions. We searched other options but they didn't help us with the flexibility of needing to take out a little at a time. We lost 5 babies before we were able to adopt our little girl at birth 9 months ago. We also lost $20,000. It was a hard lesson to learn but I cannot imagine having any child other than our little girl.

Adopting our daughter has enriched our lives in so many way. She is such a happy child. We adopted a Biracial child in a state that is very disapproving of Biracial people. My family was not really enthusiastic about it at first until they met her. I really think she has changed their way of thinking!

Year of Adoption: 2003

What was your first reaction to the cost of adoption?
We thought about not adopting.

What would you do differently?
Would look into different agencies instead of using a local one. Found out after the fact that local agency was 3 to 5 thousand more expensive.

What would you not change about how you did it?
Did alot of reading and learning about China and children that are adopted. I knew what to expect. Also being a member of internet support groups and a local support group which helped with packing lisit and where to shop in China.

We got a Home Equity line and we are still paying on it. Also, our family gave us money.

Year of Adoption: 2002, 2002, 2004

What was your first reaction to the cost of adoption?
I was shocked at the cost but we were determined to raise the money necessary. I think it made us work even harder on our fundraising efforts.

What would you do differently?
I would probably do more fundraisers over a longer period of time. I would probably have a plan of action with goal/objectives with a timeline to meet them. I think with all three of our adoptions we were rushed to raise the money but I think if we would have done a little more planning/organization we could have done a few more fundraisers.

What would you not change about how you did it?
Glad we adopted! I am glad we made the decisions we made because I think if we had done things any differently we would probably not have our children with us today. I am glad we were able to organize things enough to have our fundraisers because it helped us bring our children home.

We did garage sales primarily. I asked neighbors, relatives, Freecycle groups, etc. for donations of items they could no longer use or offered to pick up garage sale left overs. We were able to raise a good portion of our money this way. I also sold clothing/items online through an adoption group to help raise money.

Year of Adoption: 2006

What was your first reaction to the cost of adoption?
I actually thought about not adopting.

What would you do differently?
I would write a few grants to help pay for it.

What would you not change about how you did it?
I shopped around for agencies. I looked for cost and what the price bought. We chose the least expensive agency that adopts babies from Ethiopia, but we have had an awesome experience.

We took out a home equity line of credit to pay for most of it and we also used my husband's 401K for a partial loan.

Year of Adoption: 2006

What was your first reaction to the cost of adoption?
Realized I need to do more research Looked around for a better deal. My grandparents have given me money to help fund the adoption. One of the reasons that I opted for Ethiopia (aside from the fact that I love the culture) is that they are significantly cheaper then some of the other countries.

What would you do differently?
I am still in process (expecting a referral any day now) so it is hard to answer that. Overall I have had an incredibly positive experience. My agency has been great. My major problem came with trying to obtain my birth certificate. I really don't think I would do much differently - maybe just pay off all credit cards prior to starting the process.

What would you not change about how you did it?
Pick my agency. I almost discarded the notion of using them since they were so new to Ethiopia. Now, I can't imagine using any other agency.

We got a home equity loan. I have not started repaying it yet. I hope to repay it within the first year. My grandparents have also given me money in order to finance the adoption.