My friend,unsophisticated in realty law, who holds a first mortgage on property that is in default,signed an agreement he didn't understand prepared by an attorney on behalf of a very sophisticated businessman.
I'm trying to help him set aside that agreement as he is limited in funds.
I am in the realty business and I have never seen a more complicated,convoluted agreement that essentially gives away what my friend was to get under a recorded first mortgage.
Obviously,he didn't have nor was it recommended he get legal advice before signing this agreement that is so detrimental to him.

I see no requirement that anyone "tell" him to get an attorney that is expected to be fairly common knowledge

If the contract is illegal ( has terms and conditions not within real estate law) it may be overturned for that reason.

But if in default, what is the issue with a foreclosure