401K's and other property

[Bmav]

In CA, is it possible to do a BK if I have a 401K and another property in another state? I'm trying to sell the CA home (probably a short sale) or just walk away if it won't sell (foreclosure).
I'm out of money for the house payments and cc payments.
I hear that a foreclosure is worse than a BK, so can filing somehow protect me from a foreclosure?

Not really sure which way to go. The house is on the market and if I'm lucky, will break even. But it doesn't look promising.

Thanks

[Flamingo]

In CA, is it possible to do a BK if I have a 401K and another property in another state? I'm trying to sell the CA home (probably a short sale) or just walk away if it won't sell (foreclosure).
I'm out of money for the house payments and cc payments.
I hear that a foreclosure is worse than a BK, so can filing somehow protect me from a foreclosure?

Not really sure which way to go. The house is on the market and if I'm lucky, will break even. But it doesn't look promising.

Thanks

Your 401(k) is exempt in bankruptcy. The rest depends upon your entire financial situation.

[Bmav]

Thanks.
Well, I have property free and clear out of state that I'm going to move to since I'm broke here. Start over so to speak. But if I have to give that up, I have no place to go.