Purchasing a new home before a short sale is approved and closed.

Wife is in the middle of a short sale and husband has nothing to do with that property.  Husband is doing a short sale on another property with Wells Fargo that they own (wife is on title only).  They want to cash in their Retirement Funds to buy another property and purchase the property in a corporate name.    If Wells Fargo doesn't waive the deficiency could they file a judgment against the new property?  They want to close on the new property before the short sales are approved and closed. 

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