98 Explorer lost reverse, Low 4WD

[rockfx01]

I got home last night and put my car in reverse to park. I got about 1-2 feet and heard a loud clank, at which point I stopped moving. Reverse gear no longer works, the engine just spins as if it were in neutral. Tonight I didn't have much time but I took a quick look. Still no reverse, O/D light turns on/off, and then when I tried putting it into 4WD Low, it clanked repeatedly, like it was failing to shift into low gear but kept trying over and over again. Needless to say I shifted it back into high and left it be.

I read this thread, which seems similar to my problem and points to a bad low/reverse band, in which case a full trans rebuild is necessary.

Given the symptoms, does this seem like a pretty accurate assumption?

What are my best options? I don't really have time to do a rebuild myself at the moment, nor do I have a garage, but I might be able to put it in someone else's for a few days to drop the trans and take it somewhere to have it rebuilt. Also, I was planning on selling the car in a month or two anyway. Is it worth the time and money to rebuild the trans or should I just sell it as is? Thoughts or suggestions?

Thanks!

1998 Explorer XLT
V6 4.0L SOHC

 

[BrooklynBay]

It might be the shift fork in the transfer case.

 

[rockfx01]

I'm guessing I'd have to pull it apart to find out? If it is the shift fork, is that something I could do or would I need to take it in for that too?

I'm pretty good with mechanics as long as I have a manual, but I can't say I've done anything of this magnitude before.

 

[BrooklynBay]

The transfer case has a lot less parts than a transmission, so it's up to you. There are some sticky threads on rebuilding transfer cases.

 

[rockfx01]

I will take a look then. I'm sure I won't get to it until at least after Thanksgiving weekend (we just moved and I've been busy doing interior work tearing down walls and such), but hopefully sometime in the next two weeks I'll be able to start hammering at it. Thanks for your help, I'm sure I'll be back later with more questions.