Less than 2 weeks ago, a horrible noise start coming from the transmission I believe. At low RPM's it is most prominent. Its a grinding, scraping noise that speeds up with the engine. The car still drives fine, although I have had it sitting since 2 days after it started because im terrified it will cause damage.
When it drives it also has not changed in performance with this problem. The noise is the only indication something is wrong
My boss who is a boat engine mechanic, (who also has plenty of experience with cars I think), Said that something is loose and is hitting the flywheel it sounds like. Probably just a couple bolts that have shaken loose? What would you suggest I do? I dont have the equipment to pull the engine out of the car. Is there a way I can check this without removing the engine or transmission? He said something about a service panel I can unbolt or something like that. Please help! This car is my child!

 

Some of the older vehicles had a flywheel cover pan that was held in place by 4 bolts.
Upon removal of those 4 bolts you could look inside the bell housing at the flywheel and torque converter. If there is anything out of place there you should be able to see it .

 

I just went down and tried to take off the 4 bolts but it wouldnt move. Am I doing something wrong? Here is what I can see:

 

Instead of the 4 bolts it looks like your model has an inspection cover which has been removed.
The threaded stud sticking out looks like it should have a lock washer and nut on it.
Try to rotate the part you see and if there are more studs without nuts and washers on them I would suspect that is the source of the noise.

 

Those have a locknut on them. they're called torque converter nuts and they don't have any washers on them either because once they are tightened enough to turn over the engine they are plenty tight enough and I bet that some one didn't tighten them enough and the loosened until they flew off. That's why you hear the grinding noise.