Review Of Can You Get A Home Equity Loan Before Foreclosure References. Conversely, if you owe more on the mortgage than your home is worth,. Under federal law, a loan servicer typically can’t officially start a foreclosure by making the “first notice or filing” required by state law until the borrower is more than 120 days.

Yes, you can get approved for a home equity loan even with a lot of credit card debt as long as your income is high enough and you have sufficient equity in your home. Ad we loan money to people like you based on the equity you have in your home. However, once the home is sold at auction, the adverse effects of foreclosure will.