OK, half-way done, I think. I've translated the verses from II Timothy, now to go on to the phonetic transcription. A sample so far:
Aþþan tulgus grunduwaddjus guþs standiþ, habands sigljŠþata: kunþa fráuja þans þáiei sind is, jah: afstandái af unsēlein ƕazuh saei namnjái namŠfráujins.
Yet God’s firm foundation stands fast, having that seal: the Lord knows those who are his, and: would that every person who might name the Lord’s name separate from evil.