How can i remove this red paint from this picture

Adobe will not help with violating privacy. They do not allow discussions of magic tools to peel off red paint, because people might use it to find the winning lottery numbers. Shhhh!

You can select the red area and then use the Content Aware fill feature to get Photoshop to fill those pixels. See the page below:

https://helpx.adobe.com/ca/photoshop/using/content-aware-fill.html

Just to make it clear, you won't get any text that was under the red areas. Content Aware doesn't detect what has been covered up. It fills areas with what it thinks should be there based on surrounding pixels. 

Hi

While you could remove the red paint using various tools in Photoshop, you won't reveal anything underneath if that's your goal