Solid Equity vs Appraised Equity

[Ibrahim Yamini]

I’ve read a few books and seen endless YouTube videos on equity but I wanted to know if there is a different name for certain types of equity.  If there are, I must have overlooked them. Let me explain 

I bought my house at $245K and paid it down to $222K giving me $23K in what I’ve named “Solid Equity” because it’s backed by actual payments.

My house is now worth $310K which gives me $88K in Equity which I’ve named “Appraised Equity” because it’s based on the property value.

Is there a name for these types of equity?   How dangerous is it to invest using “Appraised Equity” if the market goes down and your house is upside down?

Does it even matter?