Forebearance vs HELOC?

[Winga Blaggard]

A relative newb here, hoping for advice.

I have two mortgages, one for a rental which has just become vacant, and another for primary residence which I was going to make a rental as we speak. So neither property is bringing in income and I have to pay two mortgages plus rent at a new place where I moved to. 

I'm considering applying for the forbearance but concerned that it might come with strings attached. I have a good deal of equity in one of the properties, and was hoping to apply for an equity loan to purchase another property this summer. 

Does getting a forbearance preclude from qualifying for an equity line of credit? Is a line of credit even in the cards now given the economic situation? What's the best course of action here?