Eph 1:7 NLT
He is so rich in kindness and grace that he purchased our freedom with the blood of his Son and forgave our sins.
Freedom
What are we free from?
The bondage of the sin in which we lived before Christ.
The condemnation of sin under which we lived before Christ.
Forgiveness
Notice forgave is in the past tense. We have already been forgiven in Christ. Now it is up to us to accept that forgiveness!
This freedom and forgiveness has been purchased for us completely by the blood of Christ. In other words we deserved to die, but God substituted Christ’s death for ours!
We are free and forgiven at a very high price. A price that we do not have to pay. Another word used for this is redemption.