4 But there is forgiveness with thee, that thou mayest be feared.
5 I wait for the LORD, my soul doth wait, and in his word do I hope.
6 My soul waiteth for the Lord more than they that watch for the morning: I say, more than they that watch for the morning.
7 Let Israel hope in the LORD: for with the LORD there is mercy, and with him is plenteous redemption.
8 And he shall redeem Israel from all his iniquities.
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Commentary on Psalms 130 Commentary Critical and Explanatory on the Whole Bible
PSALM 130
Ps 130:1-8. The penitent sinner's hope is in God's mercy only.
1, 2. depths—for great distress (Ps 40:2; 69:3).
3. shouldest mark—or, "take strict account" (Job 10:14; 14:16), implying a confession of the existence of sin.
who shall stand—(Ps 1:6). Standing is opposed to the guilty sinking down in fear and self-condemnation (Mal 3:2; Re 6:15, 16). The question implies a negative, which is thus more strongly stated.
4. Pardon produces filial fear and love. Judgment without the hope of pardon creates fear and dislike. The sense of forgiveness, so far from producing licentiousness, produces holiness (Jer 33:9; Eze 16:62, 63; 1Pe 2:16). "There is forgiveness with thee, not that thou mayest be presumed upon, but feared."
5, 6. wait for the Lord—in expectation (Ps 27:14).
watch for, &c.—in earnestness and anxiety.
7, 8. Let Israel, &c.—that is, All are invited to seek and share divine forgiveness.
from all his iniquities—or, "punishments of them" (Ps 40:12, &c.).