The foreclosure process, what do I need to do?

After several rate adjustments and no help from our mortgage company we have prepared ourselves mentally to let our home go. I’m still young(24), I’m aware my credit would be shot. I can’t refinance since the loan(145k) is over the value (136k), so this isn’t an option I have. My question is, in Oregon can the mortgage company sue me for whats left over of the loan after the sale? Or will this debt be forgiven. Thanks!

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