Orosco

Plaintiffs Robert A. Nelson and Sandra M. Nelson (hereafter for convenience in the singular, Nelson) appeal from a judgment declaring that they take nothing by way of a deficiency, after a judicial foreclosure sale of real property, from defendants James R. Orosco and Annette M. Orosco (hereafter for the same reason, Orosco). Orosco cross-appeals from an order setting aside the foreclosure sale on Nelson’s motion.

In our analysis of the appeals we initially observe that an action to foreclose on the security of a trust deed under Code of Civil Procedure section 726 is a proceeding in equity. (Chance v. Superior Court (1962) 58 Cal.2d 275, 291 [ 23 Cal.Rptr. 761 , 373 P.2d 849 ]; Cummins v. Bank of America (1941) 17 Cal.2d 846, 849 [ 112 P.2d 593 ]; Lawrence v. Oakes (1931) 117 Cal.App. 32, 35-36 [ 3 P.2d 334 ].) In such a proceeding the court will exercise “broad powers” in shaping its decree (Cummins v. Bank of America, supra, 17 Cal.2d at p. 849 ) to “afford complete relief as between the parties” (Lawrence v. Oakes, supra, 117 Cal.App. at pp. 35-36); it will act “in a manner ensuring maximum possible protection to the rights of all concerned” (Chance v. Superior…