I have a home in CA that I am upside down in. My 2nd is killing me, I took $300K cash out to buy another home and start a business. Neither worked out and now my cash is down to $100k and the mortgages add up to $4k a month. I am unemployed.

I know this is a radical question but I am looking if it is legally possible. I currently have A+ 750 credit and about $200,000 of open credit cards that I can convert to cash. If I pay off my 2nd mortgage with credit cards, then stop paying them, can I file bankruptcy in 6-12 months and keep my home and wipe away the unsecured credit card debt?

Regards,
Jack Dean