Antifreeze/coolent leak

Hey guys, well I have a coolent leak seeming to come from my rear plug on the back of the motor where the tranny and engine meet. I took it to a shop to get a quote and they said it would be about $700 to fix.....most of that being labor, the part is about $100. I have no means to do it my self right now nor do I have the funds handy. I wanted to see what you guys think of those radiator stop leak deals? I do plan to get the work done I just need to save up the cash, but does this stuff atchually work? I just want something that will slow down the leak abit. any suggestions?

1993 Cherokee Sport
4.0L I6
auto-tranny

Either the engine has to come out or the tranny/transfer case/bell housing has to come off to get at it. You can try the stop leak, the silver powder seemed to work best the couple of times I tried it back when I was a teenager but it is not a long term solution. I would drain the system, refill with coolant and DISTILLED water to slow down the corrosion and add the stop leak. As for the part being $100, no way, $5 for a six pack of those freeze plugs, make sure they use brass when they do it... they look like a big bottle cap. Oh and if they do pull the motor have ALL the freeze plugs replaced at the same time.

The freeze plug at the back of the engine block is leaking and "stop leak" ain't gonna fix it. Don't even bother trying. All it'll do is clog up the cooling system and do more harm.
Rich P is right about how to fix the problem except for the stop leak and yes, you definitely want to replace ALL SIX freeze plugs on the block with brass units. They'll probably cost you only a fiver. Either the tranny or the engine will need to come out and I reckon it'll be easier if it's the engine.