Ford: 95 T-bird 3.8 liter engine running very rough, losing coolant, head gaskets

Question
117 k miles-no previous repairs-white smoke from exhaust. losing coolant- may be blowing out exhaust. found coolant puddle under muffler and muffler appears wet. cracked engine block?

Answer
what you have is blown head gaskets.this my friend is a big job. there was a recall and ford was fixing them under warr. but it over now. if you have a shop do it. it will cost you about 600.00 to 800.00 dollors and you have to replace the head bolts with new ones.the best is go to napa they have complete kits out now with the new style head gaskets. lot of luck.