The passage
      v35. The prepared/wakeful servant is "dressed" (lit. girded, "ready for action with belts fastened", NEB) and with lamps filled with oil and wicks trimmed.
      v36. The prepared servant waits in the porch for the master's return, ready to serve him.
      v37. "Wakefulness" is a dominant theme in the New Testament, cf. 1Thess.5:6, Eph.5:14. The disciple must be "ready" for the Lord's return, v40, 47. In an interesting twist, Jesus has the returning master serving the "wakeful" servant. This is certainly not what would happen in real life, but it is what Jesus intends to do for his disciples, cf. Jn.13:5. On his return, Jesus will serve us. Here again Jesus touches on the theme of grace.
      v38. The timing of the master's return is uncertain, but the servant who is ready will be gloriously blessed.
      v39. The Lord will return as a thief in the night - at an unexpected moment. The householder who is wakeful, ready, will not be caught unaware, surprised.
      v40. Jesus now applies both parables: "the Son of Man is coming at an unexpected hour." The reference to the coming Son of Man alludes to Daniel 7:13, the one who receives dominion and rule from the Ancient of Days. Take care, for his reign brings with it judgment. So, be prepared, for no one can calculate the day of his coming. Only those disciples prepared for Christ's coming will share in his kingdom on that day.

The perseverance of the saints
      One of the more fascinating doctrines of the Christian faith is the perseverance of the saints. The doctrine deals with the continuation of our salvation. We may be saved today, but will we be saved tomorrow? Is it possible for a believer to fall away from Jesus, and if so, what would cause the loss of our standing with Christ?
      Most believers tend to worry about their future salvation. There is the worry that some action, some sin undisclosed, indwelling, recurrent.... will bar us from entrance into the kingdom of heaven. Then there is the worry that we may not make the grade in the goodness stakes, that we are not quite good enough for heaven. What level of Christian commitment must we maintain to assure our eternal salvation?
      A believer who is strong on free-will, who believes that their salvation is dependent on the quality of their response to Christ today and everyday following, is naturally bound to question the worth of that response. Is my response acceptable today, and what of tomorrow? Will my response to Christ be acceptable in years to come?
      A believer who is strong on the sovereignty of God, who believes that their salvation is dependent on the sovereign predestined will of God, is no better off. The question always remains, am I one of the elect or am I just fooling myself? Such a believer is always examining their life to see whether they exhibit the "fruits of the Spirit" to an extent that guarantees their standing in Christ. They can never be sure that their piety evidences a genuine salvation. The Lord chooses, but did he choose me?
      Jesus warns us that we must remain watchful, ready, for he will return when we least expect it. The watchful disciple will be greatly blessed - Jesus will "wait on them." Yet, what does it mean to be "watching", "ready", for the Lord's return?
      Some argue that the image Jesus uses here is of faithful service. The servant is getting about the master's business. Yet, rather than faithful service, the focus in more likely on faith. My salvation is dependent on nothing more than the free gift of God's gracious kindness appropriated through the instrument of faith. If I put my trust in Jesus for salvation, then that salvation is guaranteed as a gift of God's grace. My faith may be weak, as small as a mustard seed, but weak faith is no barrier to God, for his grace is sufficient for me. Yet, what about tomorrow? This is where watchfulness comes in. My salvation tomorrow, as for today, hangs on the slender thread of faith entwined in the mighty cord of God's grace in Christ. So, in these two short parables, Jesus calls on us to watchfully guard that slender thread of faith as we await his return. We must be ready for his return with the thread intact.

v35
      estwsan (eimi) pres. imp. "be" - let. Present imperative of the verb "to be" conveys the sense of constant readiness.
      periezwsmenai perf. pas. part. "[dressed] ready for service" - [waists] having been girded. The participle, with the present tense of the verb "to be", forming a periphrastic perfect. An imperative to pull up the main cassock-like garment and tuck it into the belt or tie it around the waist, ie. get ready for action and stay that way; "keep your loins girt", Moffatt = "be ready", CEV.
      kaiomenoi (kaiw) pas. part. "burning" - "Keep your lamps lit", Moffatt, Barclay; "gird your loins and light your lamps", NAB.

v36
      prosdecomenoiV (prosdecomai) pres. part. "waiting for" - The imperative verb "to be" of v37 still applies, so "you be like men." The participle is adjectival modifying "men", "be like men who are expecting their lord and master on his return", Moffatt.
      pote analush/ (analuw) subj. "to return" - whenever he might break loose [from the wedding]. This construction forms a indefinite temporal clause. An interesting use of the verb which means "set free", "loose".
      twn gamwn (oV) "wedding banquet" - marriage. In the plural, "wedding feast", CEV.
      iJna + subj. "so that" - that [... they may open]. Introducing a purpose clause, "in order that."
      elqontoV (ercomai) aor. part. gen. "when he comes" - having come. A genitive absolute, "he" understood, forming a temporal clause. Ditto, "knocks."

v37
      makarioi adj. "it will be good" - blessed. "Fortunate", CEV; "happy", Barclay, etc. The position is emphatic, as is its concluding position in v38 where it serves to as a conclusion for what is a single sentence. Those who are ready for the Lord's return, who have maintained their faith in Christ, are indeed fortunate, for they will receive the blessings of the kingdom.
      elqwn (ercomai) aor. part. "when he comes" - having come. The participle forms a temporal clause, as NIV.
      grhgorountaV (grhgorew) part. "them watching" - [will find] keeping watch. The participle is adjectival, modifying "(them) = "those servants who keep watch". "Awake", CEV; "on the alert", Phillips; "awake", Moffatt; "ready"...
      perizwsetai (perizwnnumi) fut. mid. "he will dress himself" - he will gird. The middle voice here carries a reflective sense. Literally, wrap around himself a towel-like garment to enable him to serve, possibly to wash the feet of the guests prior to the meal. "He will roll up his sleeves for action", Barclay.

v38
      en + dat. "in" - in. Here taking a local sense, "During".
      fulakh/ (h) "watch" - Probably the three watch system used by the Jews is in mind, meaning between 9pm and 3am. So, "when we least expect it."

v39
      ei + pluperf. "if" - Second class condition contrary to fact with the unusual use of the pluperfect verb in the protasis instead of an aorist.
      h/dei (oida) pluperf. "had known" - A new illustrative parable now has the owner of the house facing the break-in of a thief, but not knowing when the break-in will occur. A similar illustration is found in Matthew. Being "ready", "prepared", is the only sensible response.
      poia/ wJra/ "at what hour" - in what kind of hour. "When the thief was coming", CEV.
      ercetai (ercomai) "coming" - A present tense carrying a future sense.
      diorucqhnai (diorussw) aor. pas. inf. "be broken into" - to be dug into. The infinitive is complementary, completing the sense of the verb "have allowed". "Digging", in the sense of digging through the mud walls of the house, therefore "broken into."