Several states have a Statutory Right of Redemption that is designed to allow a borrower to redeem their former property after it has been sold in a foreclosure sale.  The statutory period, in states that allow it, may be as long as two years.  Thus, a borrower who has lost their property through foreclosure is allowed to redeem the property after repayment of the debt or foreclosure sale price, whichever is greater, plus some additional fees.  The idea of a public auction at foreclosure is to allow the market to bid up the price to a "fair" level.  This paper will examine the laws in the various states and identify potential impacts on the auction price by this statutory right.