How can my parents keep their home from bankruptcy?

Our elderly parents, 75, have finally admitted they are in financial trouble. I'm really afraid it may be too late. They are hard working people; dad worked until he had his knees operated on a few months ago, but ow he can't. (I really don't think they knew how much interest they owed and that it would never be paid off). I think he thought he was all right as long as he kept working and now reality has set in. Their house will never be paid for with two mortgages with out of this world interest rates and more owed than it's worth. But it's their home. Their mortgages are up to date but they're living on less than $350 a month. I really don't know how they have been doing it. I do know that they have let the medical bills and small bills go. We went to a bankruptcy attorney today and now they're devastated. He told us that they would lose the house if we turned it in but frankly that's going to kill them. We can't help them as our heads are barely above water. A reverse mortgage is out as there is no equity and they owe much more than its value. If the banks sell it out from under them they will never get their money. IS THERE ANY WAY TO KEEP THEM IN THEIR HOME? I'm very worried about their physical and mental state.