I agree that it's not a very useful definition of "Broke", but you can sell the house, pay off the mortgage and (probably) have money left. With student loan de

I agree that it's not a very useful definition of "Broke", but you can sell the house, pay off the mortgage and (probably) have money left. With student loan debt etc. there is nothing on the other side of the balance sheet (except from hopefully higher earning potential over the long term).