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Last year, Clarfield's Carbon Mesa sought judicial foreclosure against Shlens, and in June it won summary judgment - meaning Shlens had to pay up on the loan and accumulating interest and fees, unless he wins on appeal. The court also noted that a judicial foreclosure sale may also be set aside if there was an excusable mistake, particularly if such mistake caused the property to bring a much lower price that it otherwise would have. It is significantly less expensive and less time-consuming than a judicial foreclosure, he said. |
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