My question involves bankruptcy in the state of California...
I am going to file for BK. I will lose my home as i can not afford to make the payments. I am considering just letting it foreclose, but am concerned about them coming after me or my parents since all 3 of us are on the loan. Mortgage is $630,000....property value now around $520,000. So a huge difference...the lender will not be able to get back all of the original loan money. If I go BK, can the loan company go after my parents for the remainder of the balance after the home is foreclosed and sold at auction? Should I BK or just let it foreclose? I really don't want my parents to be liable (yes I know they are on the loan, they understand the credit hit, but are scared about being responsible for the difference in money owed).
Thank you kindly

