Legal Question in Bankruptcy in Georgia

At this point, it might be too late and considered a fraudulent transfer.

Moreover, a divorce doesn't dissolve a lien.

However, this isn't a question to be answered online.

Your parents should go to an experienced attorney to determine what course of action is best for them.

There is no way to avoid a mortgage by transfering property. In fact that usually triggers what is known as a due on sale clause, making the whole balance due. It also is usually considered a fraudulent transfer, so all of you can then be sued. And if they file bankruptcy, the court can potentially seize the property, sell it, and put all of you in prison. (A divorce will not change the liens either).

Instead of concoting disaster, they should see a lawyer who specializes in banruptcy to dscuss if there are ways to retain the property and rework payments, or at least to protect them from suit. And they need to ignore your very dangerous and unwise ideas.

You needed to consult with an attorney as soon as they encountered difficulties. You still need to consult with one to see if there is anything that can be done at this point.