Real estate is booming in New York City, and many are worried that a bubble in the stock market is starting to pop.
The average price of a home in the city has increased by 17 percent in the past year, while the median price of an apartment has increased just 0.4 percent, according to data from Trulia.
But while the market has been good, what if you lost everything?
In the worst-case scenario, you could be left with a $200,000 debt.
Trulia says that if you were to lose your home, your credit score could fall to the lowest of any credit card or credit card debt, according.
Here are the six most important things to know before the market crashes.
The worst-Case Scenario