Value of home on financial aid documents

Paying for College
1

<p>My parents are recently divorced, now living in different permanent residences.</p>

<p>As per the divorce, they both own half of the value of the old family house. The house is for sale currently, and may be sold within the next few days.</p>

<p>When forms ask for the current home value of the house that they’re living in, should I divide the value of the house after mortgage costs for each parent when it asks the value of their home?</p>

<p>My father lives in the old family home and my mother rents an apartment. Just wondering how I should approach house value for each parents.</p>

<p>Thanks</p>

2

<p>lovehex - The value is the market value, use a bit less than it is listed for. In another question, mortgage debt is asked. I think there is only one line for house info, so I would enter the total there and the same for mortgage balance and then explain their actual living circumstances / divorce terms in the supplemental information section.</p>