<p>In putting down the equity of one’s home , I know that one puts the value minus the mortgage owed . Can one subtract the amount of CC debt owed from home equity amount on Profile form ?</p>
<p>No. The only way to do that is to actually borrow the equity in your home and pay the CC off.</p>
<p>thanks …that’s what I suspected</p>
<p>Right-- if you have a home equity credit line, you can use it to pay down the CC’s, and thereby reduce your equity and your debt (and increase your potential aid package) all at once.</p>