You can look at a bankruptcy to help you out.
The amount of equity
will dictate what chapter you should file under.
The california bankruptcy homestead exemption :
Real or personal property you occupy including mobile home, boat, stock cooperative, community apartment, planned development or condo to $50,000 if single and not disabled; $75,000 for families if no other member has a homestead (if only one spouse files, may exempt one-half of amount if home held as community property and all of amount if home held as tenants in common), $125,000 if 65 or older, or physically or mentally disabled; $100,000 if 55 or older, single and earn under $15,000 or married and earn under $20,000 and creditors seek to force the sale of your home; sale proceeds exempt for 6 months after received (husband and wife may not double).
If your share of the equity is greater, then you would need to look at a chapter 13
, to pay back enough of the debt to protect that equity. if there is no exposed equity, you may qualify for chapter 7
to discharge the debt completely.
Talk to a local bankruptcy attorney for a free consultation to set you up appropriately.