You could get a secured loan that clears the existing second charge and releases enough equity for a closure. This would of course depend on the rates so if the new loan was cheaper than the current one you could possibly raise enough to clear the IVA at no extra monthly cost. Have a word with Shaun Vickery as it costs nothing and there might be something that can be done.
As Michael says, it may be possible to raise sufficient funds to settle your existing loan and release enough to satisfy your creditors with a 'full and final' offer. Whether this is the best solution for you will depend on your individual circumstances obviously but it's certainly worth weighing up all of your options.
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