and are being justified [declared free of the guilt of sin, made acceptable to God, and granted eternal life] as a gift by His [precious, undeserved] grace, through the redemption [the payment for our sin] which is [provided] in Christ Jesus,
By God’s grace, without earning it, all are granted the status of being considered righteous before him, through the act redeeming us from our enslavement to sin that was accomplished by the Messiah Yeshua.
But now we are seeing the righteousness of God declared quite apart from the Law (though amply testified to by both Law and Prophets)—it is a righteousness imparted to, and operating in, all who have faith in Jesus Christ. (For there is no distinction to be made anywhere: everyone has sinned, everyone falls short of the beauty of God’s plan.) Under this divine system a man who has faith is now freely acquitted in the eyes of God by his generous dealing in the redemptive act of Jesus Christ. God has appointed him as the means of propitiation, a propitiation accomplished by the shedding of his blood, to be received and made effective in ourselves by faith. God has done this to demonstrate his righteousness both by the wiping out of the sins of the past (the time when he withheld his hand), and by showing in the present time that he is a just God and that he justifies every man who has faith in Jesus Christ.
But in our time something new has been added. What Moses and the prophets witnessed to all those years has happened. The God-setting-things-right that we read about has become Jesus-setting-things-right for us. And not only for us, but for everyone who believes in him. For there is no difference between us and them in this. Since we’ve compiled this long and sorry record as sinners (both us and them) and proved that we are utterly incapable of living the glorious lives God wills for us, God did it for us. Out of sheer generosity he put us in right standing with himself. A pure gift. He got us out of the mess we’re in and restored us to where he always wanted us to be. And he did it by means of Jesus Christ.
They are acquitted and accounted to be YITZDAK IM HASHEM as a matnat Hashem (gift of G-d) by the unmerited Chen v’Chesed Hashem (grace of G-d) through HaPedut (the ransom, the payment of ransom for the Geulah redemption—Shmuel Bais 7:23 that comes about through the Go’el Moshiach Tzidkeinu) which is in Rebbe, Melech HaMoshiach Yehoshua,