GIBBO

Ayleen Gibbo, plaintiff and appellant (hereafter Gibbo) appeals from the judgment entered against her and in favor of defendant and respondent, Janice Berger (hereafter Berger) on Gibbo’s complaint to quiet title to certain real property located in Murrieta. Gibbo alleged in her complaint that in March 1992 she and her husband, Dick, borrowed $15,000 from defendant’s father, Harold Berger. The loan was evidenced by a note and secured by a deed of trust on Gibbo’s residence. The note specified that the loan was due and payable in one year and, in the interim, that Gibbo would pay interest only. Gibbo alleged that she had made interest payments on the loan through December 31, 2002, in the total amount of $17,250.

In December 2002 Berger initiated nonjudicial foreclosure to recover the $15,000 principal owed on the note. In response, Gibbo filed her quiet title action in which she alleged that the interest rate on the loan was 15 percent and that rate is usurious because it exceeds the 10 percent legal rate of interest allowed under article XV, section 1 of the California Constitution. Because the interest rate was usurious, Gibbo alleged that Berger could recover only the…