Citi is 2nd but not accepting Short Sell

[Joel Fraser]

Hi all, I got into a bad investing and signed away on a purchase of a house worth 2 mil back in the hayday... It is not my primary residence and only bought as an investment, well actually an investment company bought it using my credit.Today, the "investment company" bancrupted and there's no way i can make payments on the mortgages. They did make payment for the last 3 years. 1st mortgage is owed 1.2 mil and 2nd 500k. First is countrywide and 2nd is Citi. We have an offer for the house at 940K. The first is accepting the SS (http://www.thecreativeinvestor.com/Encyclopedia-6.html) but the 2nd will not accept nor give us an amount that they'll accept. The house is due to go on foreclosure in a matter of 2 weeks. I don't want to ruin my credit completely nor have the 2nd come after me for the 500k. Oh, the house is in UT.What can i do at this point? Any advise will be much appreciated..... Thank you I know i'm in the pits......