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Replacing the water pump on the 2.7 is not and easy thing to do, and if you are not comfortable with resetting your timing it may be better left to your machanic. to replace the water pump you need to remove the both belts and the belt tensioner as well as the harmonic balancer. Once that is removed you need to remove the timing chain cover to get access to the water pump. when the cover is removed you will need to let the pressure out of the main timing tensioner, but make sure that the chain does not skip any teeth or your timing will be out and that could cause major engine damage. after the tensioner has been released of pressure, unbolt the water pump, and make sure as you are taking out the last bolts that the timing chain stays tight on all of the other sprockets, ( the water pump has a sprocket as well). once you remove the water pump clean the area good and install the new pump and gasket. you might be very shocked when you open the timing case as 2.7L are well known to sludge up the oil, if your engine has more than 50-70k miles on it if you are going through this much trouble to do the water pump and you see that your engine inside is sludgy you are smart to bite the bullit and replace the timing chains and tensioners at the same time, I would also do the oilpump as well.

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