2nd Mortgage charge off?

My wife and I are trying to sell our house in a very bad market. We owe 71k on the first mortgage (Wells Fargo) and 26k on the 2nd. The property is worth about 105k. The problem is that the market is so bad and we need to sell quickly. We could probably sell it for around 90k. This would pay off the first entirely but only a portion of the 2nd. What should I do about the 2nd Mortgage (GMAC)? We already have huge debts and probably can't get any new loans. The payment on the 2nd Mortage is $395 per month. We are willing and able to keep paying it, but we need to sell the property. Any advice or suggestions is greatly appreciated