My question involves a mortgage in the state of: California

Hi, I bought my home 4 years ago with a fixed 30-year FHA. I recently refinanced the house 6 months ago into another fixed 30-year FHA. If I were to walk away from this home so that I can move and rent a house in a different part of the state, can the lender actually sue me?

I owe $290,000 and the home is "valued" at $285,000.. No, it won't sell because buyers want the house for $260,000..