It's unfortunate but he probably wasn't defrauded. He took out a loan using his house as a collateral. Either he didn't understand what he was signing or didn't want to understand it. I don't think anybody will lend him that much money (over $40K in US) with no collateral based on his promise of returning to be 2:05 marathoner again. He is still in his early 40s. He can start over and find a gainful employment. Forget about the past.