Question: How to bail on HELOC?

Hey Everyone,
I have a few questions.

  1. If my property is being foreclosed on and my mortgage company is planning to do a “deed-in-lieue” of foreclosure. What happens to my HELOC on that property? When I talked to my HELOC company (Citibank) they said that they would simply put a lien on my additional assets.
    The only other property I own is also $75k+ upside down. Obviously if Citibank is going to add a lien for $50k+ on my second property it would make sense to bail on that property as well.

  2. If I own two properties and both are upside down, is there any negatives to foreclosing on both properties? If i’m going to have my credit destroyed, it’s probably better to dump both properties at once, correct?

  3. Last question. Is my Roth IRA that i started for retirement when I was 18 years old protected from these debt collectors or am I throwing away my retirement money? I am hoping that it’s protected as it’s money that I cannot even withdrawal without penalty.

Any help is appreciated.

Best Regards,
Josh B.