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If the line of credit is secured by the house, yes. The line of credit is a secured 2nd lien against your property and that lender can foreclose.
You often don't see 2nd lien holders foreclose because any money it gets from foreclosing must be first used to pay the first lienholder in full, and then if anything is left, the 2nd lienholder gets the money up to the amount you owe under that loan.
Even though this is rare, it does happen.