Can someone walk me through the questions below. I am having a hard time understanding statutory right to redeem.

What is the statutory right to redeem? Why does it make sense, as a matter of public policy, that states statutorily authorize the right to redeem?How does the general public/communitybenefit by allowing the mortgagor to remain on the property even during foreclosure?If states got rid of the statutory right to redeem, what kinds of problems and issues might communities experience?