It sure sounds like you need to have the tranny gone over. Here is a Tech bulliten that may cover your problem
ENGINE/TRANSMISSION DRIVEABILITY ISSUES TECHNICAL SERVICE BULLETIN Reference Number(s): 06-14-10, Â Date of Issue: Â July 24, 2006 Superceded Bulletin(s): 05-23-7, Â Date of Issue: Â November 28, 2005 Related Ref Number(s): 05-23-7, 06-14-10 ARTICLE BEGINNING ISSUE Some 1999-2003 Windstar and 2004-2007 Freestar / Monterey vehicles built prior to 6/22/2006 may exhibit engine / transmission driveability issues due to water entering the powertrain control module (PCM) or transaxle vent. Symptoms may include various diagnostic trouble codes (DTCs), harsh or delayed transmission shifts / engagements, no reverse engagement, engine overheat, engine lean condition causing a misfire (possibly leading to melted electrodes on the spark plugs), and rough idle. The water leakage may be due to the PCM connector cover not seating completely and water leaking down from the cowl panel grille (cowl top vent panel) area. ACTION During normal diagnostic and repair procedures, inspect for evidence of water damage at the PCM, PCM connector, and/or transaxle. If present, inspect the sealing area of the PCM cover, seal the water leak path in the cowl panel grill area, and service the PCM as needed per the following Service Procedure. SERVICE PROCEDURE Disconnect the PCM connector. Remove the PCM cover from the studs in the bulkhead. ( Fig. 1 ) Fig. 1: PCM Connector Inspect the body sealant on the bulkhead to ensure it is not protruding out causing the cover not to seal properly in that area. ( Fig. 2 ) If sealant is interfering with the PCM cover, remove excess with a sharp tool. Reinstall the PCM cover ensuring the cover seals and is flush with the bulkhead. Fig. 2: Body Sealant On Bulkhead 1. Remove the wiper pivot arm. ( Fig. 3 ) a. Release pivot arm nut cover. B. Remove the pivot arm nut. FORD: 1999-2003 Windstar; 2004-2007 Freestar MERCURY: 2004-2007 Monterey NOTE: This article supersedes TSB 05-23-7 to update the Service Procedure and model years. Page 1 of 4 ENGINE/TRANSMISSION DRIVEABILITY ISSUES -2004 Mercury Monterey 8/3/2008
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Sunday, August 3rd, 2008 AT 9:36 AM