<p>I, like so many of you, decided to wait until the last moment to actually hand in my fafsa/css information. I was just about to hit submit when I started thinking about the section about housing information. One set of questions (PA 130+135) asks for the value owed on the house and its current worth with the intention of taking out an equity loan against the home value. However, my parents already took out the full equity of our house to pay off various other debts, so I assume I should indicate so somewhere. I was thinking of placing it under amount owed on the house, but I'm not sure its the most appropriate location (or if colleges actually care).</p>
<p>In a similar conundrum, a later question (PE-150a) asks for the monthly home mortgage payments and I'm unsure whether or not to include the equity already taken out. It is technically a payment on the house (or against it) but it is not part of the main mortgage, so any clarification would be appreciated. With any luck I can complete these forms with few enough accidental mistakes to not completely invalidate any source of revenue they might provide.</p>