1. What then shall we say about the one who according to the basar (flesh) is Avraham Avinu? What did he find to be the case?
2. For if Avraham Avinu was accounted to be YITZDAK IM HASHEM and acquitted before Hashem on the basis of ma'asim tovim (Works), he has something to boast about. But not before Hashem!
3. For what does the Torah say? Avraham Avinu had emunah (faith) in Hashem V'YACHSHEVEH-HA LO TZEDAKAH ("and it was accounted, credited, reckoned imputed to him for righteousness" Gen 15:6.)
4. Now to him who works, the loin (wages, batzalon [remuneration]) is not credited to one's account as a favor or gift of chesed but as a choiv (debt).
5. But to the man who does not "work" but has emunah and bitachon in the One who takes the impious man lacking chasidus and accounts him to be YITZDAK IM HASHEM (justified with G-d), such a man who does not "work " but has emunah (faith), such emunah is credited to him for TZEDAKAH ("righteousness" BERESHIS 15:6).
6. As also Dovid HaMelech speaks of the me'ushar (blessedness) of the person whom Hashem reckons to be YITZDAK IM HASHEM (justified with G-d) without dependence on [zechusearning] ma'asim (works) [T.N. with merit (zechus) viewed as "pay" earned for "work" rendered--see Ro 4:4]:
7. "Ashrey (blessed, happy) are those whose lawless deeds have been forgiven, and whose sins have been covered over;