Purchasing Redemption Rights

[Jaden Ghylin]

I've seen some various explanations of this on the web, so hopefully someone here can point me to the true answers. I've got two questions regarding redemption in MN.

1) A primary mortgage for $200k goes through sheriff's sale and the certificate sells for $60k to the bank that foreclosed. Why? Usually they seem to sell for the mortgage amount.
2) Now that the certificate has sold for $60k, the property is in a 6 month redemption period. Does the current occupant need to come up with the funds to pay off all of the existing debt or do they simply need to come up with $60k to redeem?

The property has not other mortgages or liens on it.

-Jaden