5.0 (sorry, i couldnt fine a more specific board.)
 

OK. Im buying a 94 GT Mustang 5.0. Every time i accelerate it i get a sound like sandpaper on wood but louder. The guy selling it to me says its the Emergency Brake Bracket. He said one end of it is welded but the other side has a rivit, and that the rivit popped and it hit the drivetrain. If this is true then its not a big deal, just pop some weld on it. But i wonder if it might be something else. Please help me out :-)

Put it on a lift and check out the driveshaft for wear marks. Have a mechanic look at it....it's worth $25. or so to have this checked out before you spend thousands.
Don't take some guy's word on this..he wants to sell you the car and you need to protect yourself from unnecessary future problems.
Be smart here and verify the problem, and have him knock whatever the repair is worth off the price of the car.