[TheRealThing]

The transom was solid. My buddy and I pulled motor and jackplate and checked transom. The two lower bolts bent, but not to much, but plate was loose. Replace to all new bolts and remounted everything. It was good to go. I have seen some where transom had water get in.

Yeah, it can be a real problem. Lake water at the bolt level is under a little bit of pressure. So if it can get in around the bolts it will eventually fill any voids which may exist between the inner and outer hull fiberglass. A transom then becomes a prison that water cannot escape. Over the course of time that water will completely rot out a wood transom.