how to negotiate with the second when there is some equity in the house

My house is in foreclousure . 1st. is with OCWEN 1,200,000 and second is with Regions Bank 1,050,000. Second has a summary judgment coming up in Oct. Had a short sale offer came in. Regions is saying they had the house appraised for 2,100,000 therefore they would consider $ 1,800,000 . Even this buyer would go up to 1.8M then Regions would only clear $500,000 after paying the first and the closing expenses and commissions etc..

I have a third party (family member who who is willing to help me ) He wants to know if I can go to Regions Bank and offer cash discounted payoff . He is thinking about $400,000 ,This is much better offer then the short sale . Then I would only have to deal with the first .

I am behind $356,000 with GMAC (Ocwen) . If I pay this amount and bring the loan to the date , would they be willing to reinstate my loan with a lower rate ? Or are they just interested in foreclosure ?  It has been 4 years that I have not paid them. 1st. is doing nothing but second is very close to foreclosure. 

I have not paid both mortgages for 4 years . I am lucky that My family sold a piece of real estate and they are willing to help me to save my house from foreclosure .   Please let me know your thoughts . Thank You 

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