Newsflash: What are my options if I buy and then the market crashes?

Let’s say I buy a house for 500k with 100k down, and then the whole market crashes and it’s now worth 300k. Do I still owe 400k principal to the bank? Can I re-appraise it and only owe 200k principal? Are there any other options?

Read more at https://www.reddit.com/r/RealEstate/comments/6hnhkx/what_are_my_options_if_i_buy_and_then_the_market/?utm_source=ifttt

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