Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.

Your home equity — the amount of your house that you own outright — can be a valuable resource. You can use your equity to renovate some rooms, pay off credit cards, cover college tuition, start your ...

Equity is the portion of your home you own outright, and you might need to know how to calculate it if you want to borrow money, sell your house or refinance the mortgage. The equation is simple: ...