Just to be clear, I am not an attorney either (a close cousin is, and I have had a few conversations with her along these subject lines). From what I was able to gather from my cousin, the rules about personal finances will vary by state, although they all do have them. Under normal circumstances they will be most closely looked at at the time of initial application, and otherwise will typically only come up again in the event of fraud or misconduct. bankruptcy or foreclosures at least in the state she practices are not absolutes that will disallow an attorney, nor will they typically result in disbarment or bar action in most cases. They are simply something that will be investigated and taken into consideration. So a loan default or bankruptcy 10 years prior to a bar application that was properly discharged will be treated differently than continuous and ongoing current financial problems. As the document somebody posted above indicates the key thing is candor and honesty. Acting in good faith.
In the case of JB being foreclosed on, I suspect that alot of it would depend on the exact circumstances involved. Did he act in good faith, in spite of poverty? did he communicate with the bank and make efforts to resolve the situation? Attempts at a short sale? Other options explored. Did he willingly surrender the keys to the house? or did he simply walk away from his paymenst and the bank is having to take actions to reclaim the property?
if he simply "walked away" it could become an issue because of the previous concerns the bar had about him walking away from his child support payments and making inappropriate lifestyle based financial choices instead.