Nevada law permits deficiency judgments on foreclosed properties. If you walk away, or otherwise default on the mortgage and are foreclosed, then lender will sue for a deficiency afterwards and then attempt to collect against your other nonexempt assets.
If those assets are mainly retirement accounts, then those assets are exempt from bankruptcy.
So, if the above seems to fit your description, then you are a candidate for a Chapter 7 bankrutpcy, and it should solve your problems -- except, of course, for your credit report, which will be seriously damaged for the next 10 years. But, it's probably already damaged beyond repair, so at least with a bankruptcy you will know exactly when your credit report will be completely restored.
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