... home equity is a consideration. I know someone who's parents had "lower-ish" income level (maybe 40k in early 90s), but owned a home (which they bought cheap in the 70s, and exploded in value based on location). ND told them no need based assistance because 2nd mortgage (or I guess new mortgage) was an avenue they could pursue.

Are you saying that a football player coming from a family making less than $50k can come to ND on a need based scholarship and not count against the 85? If that were the case and given the demographics of who plays football these days there would for all practical purposes be no limit of scholarships for a college football team.

Thus no official visit, limited contact and scouting, no admissions factor, etc. And once on-campus their benefits like the training table and medical coverage would be limited.