Short Sale Questions

[Matt S.]

First post, sorry if I seem like a newb. I am in the middle of trying to sell my house. If I cannot sell it I am thinking about trying to do a short sale on it. If I have a decent amount of money saved, will the bank try to come after it?

I would hate for my entire life savings to go down the drain with this house.

Should I move my money into some sort of untraceable account or something? Is that illegale? Any help or suggestions would be greatly appreciated.