7 In whom we have redemption through his blood, the forgiveness of sins, according to the riches of his grace;
English Standard Version
7 In him we have redemption through his blood, the forgiveness of our trespasses, according to the riches of his grace,
7 Because of the sacrifice of the Messiah, his blood poured out on the altar of the Cross, we're a free people - free of penalties and punishments chalked up by all our misdeeds. And not just barely free, either. Abundantly free!
New King James Version
7 In Him we have redemption through His blood, the forgiveness of sins, according to the riches of His grace
New Living Translation
7 He is so rich in kindness and grace that he purchased our freedom with the blood of his Son and forgave our sins.
Spiritual and heavenly blessings are the best blessings; with which we cannot be miserable, and without which we cannot but be so. This was from the choice of them in Christ, before the foundation of the world, that they should be made holy by separation from sin, being set apart to God, and sanctified by the Holy Spirit, in consequence of their election in Christ. All who are chosen to happiness as the end, are chosen to holiness as the means. In love they were predestinated, or fore-ordained, to be adopted as children of God by faith in Christ Jesus, and to be openly admitted to the privileges of that high relation to himself. The reconciled and adopted believer, the pardoned sinner, gives all the praise of his salvation to his gracious Father. His love appointed this method of redemption, spared not his own Son, and brought believers to hear and embrace this salvation. It was rich grace to provide such a surety as his own Son, and freely to deliver him up. This method of grace gives no encouragement to evil, but shows sin in all its hatefulness, and how it deserves vengeance. The believer's actions, as well as his words, declare the praises of Divine mercy.