Serotkin v. Flavin

PEARSON, Judge.

The appellants were plaintiffs in an action to foreclose a mortgage. They were the mortgagees and will be referred to as the lenders. The appellees were defendants and counterclaimants. They were the mortgagors and will be referred to as the borrowers. The lenders sought to enforce a lien for a balance of $325.89, upon an original loan of $1,000, plus interest and attorney’s fees. The borrowers pled usury and sought the return, pursuant to section 687.07, Fla.Stat., F.S.A., of all sums paid. The chancellor found that the actual principal sum ($657.40) received by the borrower…