What does the text say?

In today's Ledbury Reporter there is a article about some medieval writing that was discovered on a beam in the Masters House.

The text is difficult to read as per the picutures below . Colour and Black/White Versions.

But after posting the picture of Facebook and asking for help the best translation that has been come with so far is that the text is Latin and is Proverbs 28:18. 'Whoso walketh uprightly shall be saved: but he that is perverse in his ways shall fall at once'. 

14th May - Update - This has now been confirmed by Joe Hillaby an author of many local history text books as being a correct interpretation.