"O to grace how great a debtor, daily I'm constrained to be!" we sang in church this morning. But what is this grace? Here's a good scriptural answer from J.I. Packer.
In the New Testament, grace means God's love in action toward people who merited the opposite of love. Grace means God moving heaven and earth to save sinners who could not save themselves. Grace means God sending his only Son to the cross to descend into hell so that we guilty ones might be reconciled to God and received into heaven. "God made him who had no sin to be sin for us, so that in him we might become the righteousness of God" (2 Cor 5:21).
Quote from Knowing God, p. 249