Ford 3000 What is this for?

Haven't been on here to pester anyone lately, but I have a question on a bolt on my Ford 3000. I have looked everywhere and I can't find out what it's purpose is and its leaking hydraulic fluid. When I tried to tighten it, it just spun and I then realized I could pull it out (with a loss of hydraulic fluid) but it just spins in hole and won't tighten. What do I do??? It's been so long since I've posted on here, I'm having trouble figuring out how to post a picture! OK don't know if this copied pic or not, but the bolt is located just below the plug used to check hydraulic fluid level in rear diff. It requires a screwdriver to turn, whereas the plug above it you use a wrench on. I hope the picture posts!
tractor
 
Think the bolt you are talking about, near the level plug, is the bolt holding the return filter in place. It screws into a captive nut on the return filter metal pipe. If you have taken it out and not been able to get it back it is because the return filter has dropped. You will have to take the lift cover off to get it back.

You are not alone in doing that, many have done the same thing thinking it was the oil level check point but most ford level checks are square headed.
 
Here is what you must do.
Remove the left running board.
Remove the round cover plate.
Look inside with a flashlight and you will see the bracket the bolt screws in to.
If you have about a 7' arm span you can do this alone. Otherwise get your kid, wife, neighbor or some passing drunk and give them a screwdriver. Have them turn the bolt while you reach in through the hole and move the bracket into place.
Then give your helper a pat on the head, kiss handshake or another beer as appropriate.
It's pretty easy really. You just need another hand.
 
Thank you!!! I do have another question, when I pulled the bolt out realizing I couldn't tighten, I noticed there's a like stripped out area on the bolt about an inch or so in, is it stripped or is that what stops it from screwing further? Will I have to drain the differential before doing this? Asking for a friend, haha.
 
The bolt should not be stripped.
Who knows what someone has done in the past.
Bolt should be a standard hardware store item.
Bring the old one and match it up.
Put the rubber? fiber? washer on the new bolt.
Probably wouldn't hurt to drain off 2 or 3 gallons of oil from the rear end before you take the bolts out of the round cover.
Id you haven't changed oil in years now's a good time to drain it completely and replace.
 
I drained oil off, and I had just changed it last year. When I took the round plate off, I found a broken bracket, part of it still attached to arm and the other laying in pan. Also in pan was a washer and a nut. So, it doesn't look as easy now. Will I have to tear it down from top in order to straighten it out? It can't be left as such right? Apparently it has been this way for awhile, cause the screw has been loose for awhile and leaking fluid, but hydraulics worked. Let me know what you think, I'm headed outside to fix a tire and tie rod end on tractor lawn mower. I lost steering on it, looked down and one front tire was headed east, the other west and a nail sticking out of one of the brand new tires I just bought. When it rains around here, it pours.
 

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