Charles H. Spurgeon on Psalms 130:4

That thou mayest be feared. This forgiveness, this smile of God, binds the soul to God with a beautiful fear. Fear to lose one glance of love. Fear to lose one work of kindness. Fear to be carried away from the heaven of his presence by an insidious current of worldliness. Fear of slumber. Fear of error. Fear of not enough pleasing him. Our duty, then, is to drink deep of God's forgiving love. To be filled with it is to be filled with purity, fervency, and faith. Our sins have to hide their diminished heads, and slink away through crevices, when forgiveness —when Christ —enters the soul. —George Bowen, in "Daily Meditations," 1873.

Verses 4-5, 7-8. David puts his soul out of all fear of God's taking this course reckoning strictly with poor penitent souls, by laying down this comfortable conclusion, as an indubitable truth: "But there is forgiveness with thee, that thou mayest be feared." That is, there is forgiveness in thy nature, thou carriest a pardoning heart in thy bosom; yea, there is forgiveness in thy promise; thy merciful heart doth not only incline thee to thoughts of forgiving; but thy faithful promise binds thee to draw forth the same unto all that humbly and seasonably lay claim thereunto. Now, this foundation laid, see what superstructure this holy man raiseth (Ps 130:5): "I wait for the LORD, my soul doth wait, and in his word do I hope." As if he had said, Lord, I take thee at thy word, and am resolved by thy grace to wait at the door of thy promise, never to stir thence till I have my promised dole (forgiveness of my sins) sent out unto me. And this is so sweet a morsel, that he is loath to eat it alone, and therefore he sends down the dish, even to the lower end of the table, that every godly person may taste with him of it (Ps 130:7-8): "Let Israel hope in the LORD: for with the LORD there is mercy, and with him is plenteous redemption. And he shall redeem Israel from all his iniquities." As if he had said, That which is a ground of hope to me, notwithstanding the clamour of my sins, affords as solid and firm a bottom to any true Israelite or sincere soul in the world, did he but rightly understand himself, and the mind of God in his promise. Yea, I have as strong a faith for such as for my own soul, and I durst pawn the eternity of my happiness upon this principle, —that God should redeem every sincere Israelite from all his iniquities. —William Gurnall.