Winnett

Plaintiffs Don and Susan Winnett brought an action to enjoin the foreclosure sale of real property under a trust deed securing a $7,000 promissory note given by plaintiffs to defendants Andrew and Elane Roberts. Plaintiffs alleged the note was usurious and that no part of it had been paid. The trial court issued a temporary restraining order halting the sale, conditioned upon plaintiffs paying defendants the principal within five days. Although the $7,000 principal was paid within five days, the court denied a preliminary injunction, declaring: “The note is not usurious because it was arranged by a licensed real estate broker and is secured by real property.”

After the foreclosure sale was held, plaintiffs amended their complaint, seeking to set aside the sale and recover damages. Thereafter, the trial court granted defendants’ motion for summary judgment. Following entry of judgment plaintiffs moved to set aside the trustee’s sale and trustee’s deed. The trial court denied the motion. Plaintiffs appeal from the judgment and the order denying their postjudgment motion.

On appeal, plaintiffs’ principal contention is that the $7,000 note, which calls for interest at an…