Will we be approved?

August 27, 2011

New here and at the very beginning of the process. We just moved cross country for Dh's job and are buying a new house after taking a pretty good loss on our previous one. We have money in savings and have very good stable jobs. With absolutely no equity in a brand new house will we be approved for adoption?

Or hopefully will the other factors cancel that one out?

LJR1974

August 31, 2011

Your net worth and your income are two separate things that they look at. This might be agency specific--I'd call the agency you are interested in and ask what they require. You can call with absolutely no obligation to continue... just to get an idea of what you need to do.

To calculate net worth, add up all of your assets (savings, checking, retirement, your home's worth, your car's worth, investments, etc, etc).

Subtract all of your debts (mortgage, car loans, home equity loans, credit card debt, student loans, etc, etc).

That is your net worth!