Is it worth it to foreclose?

My parents bought another home in Las Vegas a few years back when real estate was high. What was supposed to be an investment is now a very, very big burden on them—they’re paying more for the house than what it’s worth. My parents have always been really financially responsible but I don’t know what happened.

They did not pay for the last month and to my understanding they’re not going to pay anytime soon and they’re pretty much saying fuck it to their credit score (which was in low 700s or so).

I’m just wondering if they continue to follow through with not paying what other ramifications will there be besides their credit score? Surely there’s more to it than that. And, do you think they should just keep paying? What other options do they have?