"Now faith is the substance of things hoped for, the evidence of things not seen" (Heb. 11:1).

Some years ago, right after the Lord called me into the ministry, I began to teach that faith has a time. In other words, there is a time when faith is faith, and there is a time when faith is not faith.

So, I taught that the word "now" in Hebrews 11:1 meant a time.

Then, one day I was teaching in a certain place, and a lady wrote me a very nice letter full of fire. In essence, she told me I was off in my teaching, because I did not realize that the word now is not in the original Greek text.

Well, I am a person who changes. I do not have a problem with changing if I find out I have been wrong. I will change instantaneously; it does not matter what anybody thinks about it—I intend to be right.

So I began to search it out to find out if she was right or if I was right. If I was wrong, I was going to change.

Sure enough, she was right. Now is not in the Greek text. It is not a time indicator in that verse. It really functions as a conjunction to connect the last verse of chapter 10 to the first verse of chapter 11.

A better translation would be "therefore" or "but."  It could read like this: "But we are not of them that draw back unto perdition; but of them who believe to the saving of the soul. [Therefore] faith is the substance of things hoped for" (Heb. 10:39; 11:1).

So I had to figure out what was going on. I knew that time was involved with faith. And I knew that this was where most people were missing it with faith.

If you do not understand that there is a time to faith, you cannot really walk in faith. You can spell it, and you can say it, but you will not walk in it until you find out about the time of faith.

I took another look at Hebrews 11:1 and said, "All right, if I drop the word 'now,' capitalize the 'F' and make faith the first word of the sentence, then it would read like this: 'Faith is...' Wait a minute...'Faith is?'"

Then I saw it! The word "is" is a present tense verb. It could say "Faith was," and it could say "Faith will be," but no: it says, "Faith is."

When it says "Faith is," it means right now—present tense. So I was back in the game, and I said, "OK, I will teach it this way. I can still prove it by the Word of God. Faith is."

I kept meditating on the verse and said, "Well, let me add a little something here. Let me play with the English a little. I could say it like this, 'Faith is now.'  Or I could say 'Faith is.' Or I could say 'Now faith is.'"

I am back to square one. Faith is present tense. If it is not present tense, it is not faith!

Source: Living in the Realm of the Spirit by Frederick K.C. Price
Excerpt permission granted by Faith One Publishing