Everything is a negotiation with the bank. A good short sale agent usually works with an attorney and the attorney should counsel you legally and explain your options.
With new RESPA laws - you need to get them before the bank agrees to the short sale. ALL monies will be accounted for prior to acceptance from the bank.
Good luck - work with your realtor or attorney to get this done. Otherwise, you will be bringing money to the table to settle these debts.