5R55E Tranny Help!!!!!! ugent!!!

Let me give you the low down and hopefully it doesn't break my wallet!!!!:2cents:

I just bought a 97 ford explorer with the 4.0 and the 5R55E tranny well it drove like a dream for the first two days then it happened!!!
I put it in Reverse and it made a horrible grinding noise so i put it in neutral and it stopped. put it in drive fine until i got over 50 and let go of the gas peddle and let it slow down it started doing it around 45 and so once more i put it in neutral it stopped. now its to the point no reverse at all and it drives but seems like a lack of power.
I had a good friend come over that knows a lot about fords and he said the torque converter went out but i am starting to doubt that i mean possible but i would like some other feedback before i drop the tranny tomorrow and do all that work for nothing!!!
Also anyone have a guide for dropping this tranny? fill me in!!!:feedback:
Eric Kirchberg
:newbie:

Sorry, but removing the trans is a PITA if you do not have a lift. I don't think the torque converter is the problem. More than likely the transmission needs rebuilt. So unless you are familar with trans rebuilding and have the tools to set it up, your options are either a used trans or having it rebuilt by a trans shop. Good luck with it.

SO I find out its my tansfercase all together but its kool getting a new one soon !