Nú er Loftr var staðfestulauss, þá fór hann norðr í Dýrafjörð á Mýrar. 

Now when Loftr was homeless, then he went north to Dyrafiord at Myrar.

Þar bjó Mögr, er fyrr var getit. 

Mogr, who previously was mentioned, lived there.

Hann var á gömlum aldri ok auðigr at fé. 

He was old and wealthy.

Hann var þingmaðr Hrafns, ok átti hann mála á Mýralandi. 

He was a liegeman of Hrafns, and he had title to a property at Myraland.    (CV máli I: a claim or title to an estate or property; hann átti mála á Mýralandi)

Loftr keypti landit at Mög, svá at hann spurði ekki Hrafn at, ok fór þangat búi sínu. 

Loftr bought the land from Mog, so that he didn't ask Hrafn that, and went there to his farm.

Víga-Haukr réðst þangat til fylgdar með Lofti á Mýrar. 

Viga-Hawk there removed to support with Loftr at Myrar.

Nú er Hrafn spurði, at Loftr var kominn á Mýrar búi sínu, þá mislíkaði Hrafni við Loft um landskaupit ok búgerð, því at Loftr var hávaðamaðr mikill ok ódæll, en þingmenn Hrafns váru nábúar Lofts ok hugðu eigi gott til. 

Now when Hrafn heard that Loftr had come to his household at Myrar, then Hrafn was displeased with Loftr concerning the purchase of land and the making of a household, because Loftr was a boasting, overbearing noisy, self-assertive man, and Hrafn's liegemen were Loftr's neighbors and didn't intend good towards (him).

Hafði Loftr ok nökkvat týgilig orð við Hrafn ok þingmenn hans, kveðst eigi undir þykkja, hvárt þeim þætti vel eða illa hans byggð. 

Loftr also had somewhat (týgilig?) words with Hrafn and his liegemen, he said for himself not to be esteemed under, whether they thought good or will of his settling in this place. 

Þá safnaði Hrafn liði ok fór á Mýrar með fjölmenni. 

Then Hrafn gathered a body of men and he went to Myrar with many people.

Þá kom þar Þorvaldr Snorrason með sex menn ok bauð Hrafni lið sitt ok gekk í flokk Hrafns. 

Then Thorvaldr Snorrason arrived there with six men and offered Hrafn his troops and went in Hrafn's party.

Síðan leituðu menn um sættir milli þeira, en Loftr var tregr til sættar við Hrafn. 

Then some men tried to effect peace between them, but Loftr was unwilling for peace with Hrafn.

Þá fóru þeir Hrafn til ok veittu á brott læk þann, er inn fell í húsin á Mýrum. 

Then Hrafn and company went on and diverted that river away, which fill insided the houses at Myrum.

Ok er þeir höfðu þat gert, þá grunaði þá Loft, at þeir mundu ætla at bera eld at húsum ok brenna bæinn. 

And when they had done that, then Loftr supposed that they would intend to set fire to the houses and burn the settlement.

Þá tók Haukr at leita um sættir, ok þat varð at lyktum, at þeir sættust á þat, at Sighvatr Sturluson skyldi gera á milli þeira Hrafns ok Lofts. 

Then Haukr began to try to effect peace, and at the end if it it was that they settled that, that Sigvatr Sturluson should decide betwee Hrafn and Loftr.

Eftir þenna fund ýfðust þeir Loftr við Þorvald fyrir þat, er hann hafði gerzt berr í liðveizlu við Hrafn. 

After this meeting, Loftr and company provoked Thorvald over that, when he had teased clearly support by Hrafn.

Eftir þenna atburð gaf Hrafn Þorvaldi góða breiðöxi, silfrrekna ok barskefta, áðr þeir skildust á Mýrum, ok mæltust þá enn vel við. 

After this incident, Hrafn gave Thorvaldr a good braod-axe, silver-inlaid and high-shafted, previously they parted company at Myrum, and they then still spoke well to each other.

Of sumarit eftir á afþingi gerði Víga-Haukr hlaupafar til Þorvalds. 

During the next summer at the general assembly Viga-Haukr made preparations for an assault on Thorvaldr. ("afþingi" appears to be an error for "alþingi." The error afþingi is actually mentioned as an OCR error in an interesting thesis: https://skemman.is/bitstream/1946/12085/1/Post-Correction%20of%20Icelandic%20OCR%20Text.pdf.)

ok hjó milli herða honum, en Þorvaldr skeindist ekki, því at hann var í brynju. 

[missing some text?] and struck between his shoulders, but Thorvaldr didn't get a scratch, because he was in chain mail. 

Þá hjó Haukr til förunauts Þorvalds, þess er Teitr hét ok var sonr Árna rauðskeggs.

Then Haukr struck at Thorvaldr's companion, the one who was named Teitr and was the son of Arna Red-beard.