Every time you miss a payment, it dings your credit history. If there's value in the home, they could foreclose, but they'd have to satisfy the 1st and then sell the house to recapture their cash. They could sue you for the difference, but the law, as interpreted only by an attorney, would be the determining factor. Anyone can sue anyone.
So, I'm not sure what your definition of "hurt" is.
Was the $72K used for acquisition of the property? That is a key issue. Is the property in ARIZONA or NEVADA? You really need to speak to an attorney in the state in which the property is located.
We (agents) see this question or similar questions asked often. Not only are real estate agents prohibited from giving legal or tax advice, but even if they could, your financial situation is completely unique and would require someone to know the most intimate details of it in order to give advice that could impact you for years. Do yourself a favor and spend $250-$300 dollars to talk to someone that can really give you good sound advice and good luck! If you're in Arizona here are some possible links for legal assistance:
Bottom line is the second gets nothing if the first forecloses