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Generally, the answer will be no.
Most losses must first be applied to the year following the loss, then the next year , etc.
It is not too late to amend the 2004 return that was due April 15, 2005 as you have three years from the due date to file Form 1040X (Rev. November 2007) You can still file this by 4/15/08 to change your 2004 return to include the carryforward loss.
In a few cases it is possible to compute the loss that would have been allowed in the prior years and then use the carryforward remaining (and only the remaining part) in a later year such as 2007; but since 2004 and all the intervening years are still open to amend you should try to get the benefit that may be available in those earlier years.
If a loss is not carried forward and then the year is closed that loss is not recoverable in the later year.
I hope this helps.