Appraised value has no relationship to equity. It's only an opinion.
Equity is the residual after determining the true, arms-length market price of a property minus any debt. You can only find that out from market bids. Appraisals are merely for lender's comfort and have little bearing on market prices.
If you really have no equity, you can always pay down the debt faster to regain equity. Or, you can consider a default option.