A child is truly a bundle of joy and can add a lot of meaning to your life. If you are unable to have a child of your own, then adoption is a great way to fill the gap that exist in your life. There are many agencies that facilitate adoption and these agencies help you find the baby that will perfectly fit into your lives.
Though adoption can bring a lot of joy and happiness, it also comes at a cost. It is not cheap to adopt a baby in the United States. As a foster parent, you have to bear the medical expenses of the birth mother, travel expenses, the fees and charges required by the state and the commission of the agency. This can even go up to $40,000 in some cases and so its important you are financially prepared for it. If you do not have the money to adopt a child, you can always look at some options like loans, grants and tax credits.

Adoption Tax Credit
The Government offers tax credit for expenses incurred to adopt a child including one with special needs. Tax credit is given the following year for the payments made related to adoption in the previous year. This credit is not allowed for expenses that were reimbursed by the company or health insurance. You are eligible to claim up to $13,150 per child. If you are married, you should file a joint return to get the credit and if you are filing separately, then you can get a credit only if you meet certain requirements.
Bank Loans
You can borrow money from the bank to meet your adoption expenses. There are four ways to raise money and they are Home Mortgage Refinance, Home Equity Line of Credit, Credit card and Personal Loans. Refinancing is an option that will lower your monthly mortgage payments and you can use this extra money to save for adoption or to pay-off another loan that you have taken to meet the adoption expenses. Refinancing is done when the adjustable rate mortgage (ARM) is likely to go up or when you are moving from a fixed rate to an adjustable rate. This is a good time to negotiate with the bank regarding the rate and depending on your credit score and the regularity of your payments, the bank may agree to refinance your mortgage.
The second option is to get a line of credit on your home. In this option, you borrow money from the bank against the equity of your home. This depends to a large extent on the amount of equity you have gained so far and the amount of loan you require. While using the option, its important you make plans to pay this money back. Otherwise, you can end up in a deep financial crisis.
Credit cards are another way to pay adoption costs. This option can be particularly useful if you are waiting for funds from other sources or if you are close to a deadline. In such cases, you can use the credit card, but make sure to pay it off as soon as you get money from your other sources. This is important to prevent a pile-up of loans. Also, the credit card rates are exorbitant and so its a good idea to pay them off as quickly as you can. Look for cards that do not have any annual fee and offer lowest rates of interest.
Some banks offer personal loans that can be used to meet any adoption-related expense. However, the rate of interest on these loans can be quite high. So, look around for the lowest rates and keep this as the last resort.

Adoption grants

There are many philanthropic organizations that offer grants to help families adopt. However, these grants may not meet the total expense and also the adopting families have to meet certain criteria like specific children or countries or any other specification laid down by the granting organization. The best part about grants is there is no repayment and so this can go a long way in reducing the financial burden of adoption. Some organizations provide money in the form of loans that come with little or no interest. A partial list of organizations that provide adoption grants are mentioned below.
The Oxford Adoption Foundation provide loans to families that adopt international children. These loans have no interest or very low interest rates for qualified families. The National Adoption Foundation is another organization that provides loans to families who are financially or economically challenged. These loans have low interest rates and the qualified families should follow certain rules before, during and after adoption. The Boatner Family Foundation provides grants ranging from $1,000 to $10,000. They require a financial statement and the approval of an agency at the time of application.
Gift of Adoption Fund is another organization that provides assistance to low income families. These grants can be worth up to $5,000 and preference is given for families that are experiencing any kind of financial or emotional crisis. God’s Grace Adoption Ministries offer loans to Christian couples who make less than $60,000 a year. This grant can be anywhere between $1,000 to $4,000. Home for Good is an organization that offers grants to families who adopt mentally-challenged kids, older children or any child that has been difficult to place with families. The amount of grant depends on the situation.
Open Arms Children Charities provides grants twice a year – January 15 and June 15 to families that are looking to adopt. They require that a home study should be completed in order to become eligible for these loans. Caroline’s Promise offers grants to North Carolina families while Fore Adoption Foundation provides grants to families that are adopting kids from the United States. There are other numerous philanthropic foundations that are looking to grant money to adopt a child. So, look around for such organizations and a good place to check is your local church. You can get in touch with any one of these agencies to get a grant or a low-interest loan. Most of them have an application procedure that you have to follow and make sure you meet the criteria laid down by these organizations to become an eligible applicant.
Employers
Many employers are offering to meet adoption costs as part of the employee benefits. However, the employee has to meet certain criteria like salary, age and other factors. Some major companies that have adoption programs are AARP, American Express, Bank of America, Best Foods, Bristol-Myers Squibb, Campbell Soup, Chevron Corporation, Walt Disney, Ernst & Young, GE, Nabisco, Motorola, Oracle, Novartis, Seattle Times, Unisys and Xerox. It is a good idea to check with the HR Department of your company regarding its adoption rules and grants before you look at other sources.
Health Insurance
Most health insurance companies cover the medical expenses related to an adopted baby. Check with your insurance provider for their adoption policies. If your insurance provider does not cover adoption expenses, the shop around for an insurance plan that will provide comprehensive coverage for your adoption.
Military Personnel
If you or your spouse is in the military, you may be eligible for adoption reimbursement expenses up to $2,000.
Conclusion
In short, adoption costs can be high and your options can range from grants to high interest bank loans. Before you adopt, have a financial plan and save the required money or have a good plan to repay the borrowed loans. This will prevent you from falling into a financial crisis. So, plan well, bring the baby home and enjoy this precious joy of your life.

THIS BABY HAS FOUND A FAMILY!  THANKS TO ALL THOSE THAT WERE INTERESTED

Birthmom is a twenty-three-year old African American woman who is making an adoption plan for her baby boy that was born on 7-11-10, in North Carolina.  Baby was born at 34 weeks and weighed 4lbs 9 oz.  His AGAR scores were 8,8.  He is due to be released around 7-16-10.  He is reported to be healthy.  Birthfather is a thirty-five-year-old African American man who is described as 5’7” and weighs about 185 lbs.  He is currently in prison and not signing consents.  Birthmom reports that he will be in prison for many years.  The agency will not be responsible for the termination of birth father rights.  Birthmom reports the use of marijuana two and one-half weeks ago and some beer during the pregnancy, maybe three or four cans a month.  She reported smoking seven cigarettes a day.  She also reports that she is healthy and free of any illness or injuries.  She did not have pre-natal care.  She reports that all her children were born at 33 and 35 weeks and are developmentally on-track. She reports she has her GED and is currently working to support herself and her children.  Birthmom is requesting a closed adoption.  Adoption will require a North Carolina agency or attorney in North Carolina and adoptive family home state.  If you are home study ready and are interested in this situation, please email adoptions@aactofloveadoptions.com or call Jill at 801-550-0971.

THESE BABIES ALL FOUND A FAMILIES!  THANKS TO ALL THOSE THAT WERE INTERESTED

Birthmom, LJ is a twenty-one-year old African American woman who is making an adoption plan for her baby boy that is due around July 20, 2010.  She is planning to deliver in Utah.  Birthfather is a twenty-year-old African American man who is described as 6’4” and “skinny, with dark skin tones”.  Birthmom reported that she contacted him to tell him she was pregnant and has not heard from him since and does not know how to locate him.  Agency will not be getting a consent from birthfather.  The Utah Birthfather Registry can be used specifically for families finalizing the adoption in Utah.  Birthmom denies the use of any drugs or alcohol and has never smoked.  She also reports that she is healthy and free of any illness or injuries.  She has had two pre-natal appointments as her insurance just took effect.  She reports going to Planned Parenthood for visits prior to make sure all was well with baby.  Birthmom reports that she has had two abortions, two miscarriages and one live birth. She is a high school graduate and planning to start college.  Birthmom is requesting letters & pictures once a month for the 1^st six months and yearly to age 18 to be held in file until requested, a phone call sometime during the 1^st year and possibly meet around placement.  Openness will go through agency with caseworker and social worker involved.  Fees based on African American/Special Needs Agency Fee.

Birthmom, HA is a nineteen-year-old African American woman who is making an adoption plan for her baby boy that is due around September 17, 2010.  She is planning to deliver in Michigan.  Birthfather is an African American man that she describes as 5’5” and 200 lbs.  Birthmom stated that she let him know in May that she was pregnant and he told her that he did not want anything to do with her or the baby.  She has not heard from him since and does not know how to locate him.  Agency will not be getting a consent from birthfather.  Michigan has a Birthfather Registry.  Depending on the state you are finalizing, you may need to speak with an attorney regarding birthfather rights and termination.   Birthmom denies the use of any drugs or alcohol ever and has never smoked.  She also reports that she is healthy and free of any illness or injuries.  She began pre-natal care in June 2010.  She is taking pre-natal vitamins.  She reports that she does have Medicaid.  (Act of Love can not guarantee or confirm Medicaid.) She also reports that this is her first pregnancy and she has not had any complications.  She has graduated from high school and is attending a community college.  Birthmom is requesting letters & pictures once a month for the 1^st six months and twice yearly to age 18; phone calls possibly for matching, sometime during the 1^st year, and after the 3^rd Birthday if adoptive family believes it is in the child’s best interest; meet around placement and after if adoptive family feels it is in the child’s best interest.  All openness will go through the agency and with caseworker and social worker involved.  Fees based on African American/Special Needs Agency Fee.

Birthmom, WA is a fifteen-year-old African American girl.  She is making an adoption plan for her baby boy that is due around August 10, 2010.  She is planning to deliver in Pennsylvania.  Birthfather is a fifteen or sixteen-year-old African American boy who is described as 5’2” and not a “big guy”.  He is not aware of the pregnancy or adoption plan.  Depending on the state the family lives will depend on how the consent will be taken.    Agency will not be getting a consent from birthfather.  Attorney for the adoptive family should be contacted regarding consents for birthparents.  Birthmom denies the use of any drugs or alcohol ever and has never smoked.  She also reports that she is healthy and free of any illness or injuries.  She began her pre-natal care at three months.  She is taking prenatal vitamins.  She reported her ultrasound on May 24^th showed everything looked good.  She reports she has Medicaid.  (Act of Love can not guarantee or confirm Medicaid.) Birthmom is requesting letters & pictures once a year to be held in the file until age 18 and possibly meet at placement.  Openness will go through agency with caseworker and social worker involved.  Fees based on African American/Special Needs Agency Fee.

Birthmom, HM is a twenty-four-year-old African American woman who is making an adoption plan for her baby boy that is due around July 5, 2010.  She is planning to deliver in Georgia.  Birthfather is a thirty-six-year-old African American man that she describes as 6’2” and 180 lbs.  She says it was a one night event.  She reported that she later found him and informed him about the pregnancy and he told her he was married and did not want any involvement.  BM reports there has been no contact since.  Agency will not be getting a consent from birthfather.  Georgia has a Birthfather Registry.  Depending on the state you are finalizing, you may need to speak with an attorney regarding birthfather rights and termination.   Birthmom reports that she had been drinking three beers a week until the end of January when she learned she was pregnant.  She has not drank since.  She smokes two cigarettes a day.  She also reported smoking a “blunt” of marijuana four times a week until the end of January.  She reports not having any marijuana since the end of January.  She also reports that she is healthy and free of any illness or injuries.  She began pre-natal care in January 2010.  She is taking pre-natal vitamins.  She reports that she does have Medicaid.  (Act of Love can not guarantee or confirm Medicaid.) She also reports that this is her third pregnancy.  She reports she started medication for the herpes virus on April 8, 2010.  She has graduated from high school and has some college credits.  Birthmom is requesting letters & pictures once a year, phone calls possibly for matching, meet around placement.  Fees based on African American/Special Needs Agency Fee.

CONGRATS to recently placed adoptive families at Act of Love!! We would love to see pictures of our Act of Love babies as they grow up.