Meaning of Redemption
What is Redemption:
Redemption is called the action and effect of redeeming. In this sense, it can refer to the liberation of people from some condition (slavery, prison), from a situation (a harassment, a pain, a punishment), or from an obligation or commitment (a debt, a mortgage).
Likewise, redemption can mean releasing assets or titles pawned or mortgaged, or buying back what had been sold.
In theology, the Redemption refers to what, according to Christian doctrine, Christ did through his passion and death, to redeem humanity from its sins. In contexts of religious speeches, it is advisable to write this concept with a capital letter.
The word, as such, comes from Latin redempted, redemptiōnis.
Redemption in the Bible
The Redemption is a concept of Christian doctrine that refers to the sacrifice that Jesus Christ made to, with his passion and death, save humanity and open the doors of the Kingdom of Heaven, which had been closed for the sin of disobedience of Adam. In this sense, Jesus Christ, who died on the cross, is considered the redeemer of men. Redemption, understood in this way, is the forgiveness of sins, and implies reconciliation with God for those who achieve eternal life. The Bible says about it: "[In Christ] we have redemption through his blood, the forgiveness of our sins" (Ephesians I: 7).
In Mexico, a credit for the redemption of liabilities is the one that is requested from the FOVISSSTE (Housing Fund of the Institute of Security and Social Services of State Workers) to settle the totality of a debt that was acquired with a bank or financial institution on the occasion of the purchase or mortgage of a real estate. As such, it is a loan that is requested to pay off another loan, with the advantage, among others, that the FOVISSSTE loan charges lower interest.
Redemption of penalties
As a redemption of sentences, in some laws, the sentence reduction to which a person in prison can access by practicing various activities or fulfilling certain tasks is known. As such, the penalty can be redeemed for work, for good behavior, for being linked to certain activities within the prison, such as artistic, sports, study, recreation, teaching, etc.
Redemption in Finance
In the field of finance, redemption is a concept that can refer to the liquidation of a debt, the full payment of a mortgage, the rescue that is paid for a pawned asset, or the purchase of something that had been previously sold.