1.Real Estate Finance- The Laws and Contract

For the state of Illinois, determine whether:

a)It is a judicial or nonjudicial foreclosure state.

b)The standard home loan is based on a deed of trust or a mortgage.

c)There is a statutory right of redemption and, if so, how long.

d)Deficiency judgments are allowed against defaulted homeowners.

Based on this information, can you judge whether Illinois is relatively lender friendly or borrower friendly?