Big mortgage problem?

We bought our home one and a half years and has obtained a loan 80-20. Then, in February last year, we refinanced our second mortgage (20 per cent of the loan) to pay off your credit cards, etc. It was a HELOC. Then my husband lost his job and was unemployed for almost four months. Even if the new job, we do not have enough money to pay for everything. We live in Washington state and we can not declare bankruptcy, since we have only four years ago, and I hope there some way we can keep the house? Our credit sucks now, and we can not refi because the products have reached the limit, you can borrow agenst home. So here is my question: What would happen if we stopped making mortgage payments in the second, but kept up the first? Do we still loose in the house? Any suggestions would be greatly appreciated.

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