Originally Posted by sdsester
Replace it before you try to fix it. They are not expensive enough to warrant fixing them. If you can stand the rattle at start-up you may get quite a few more miles out of it though.
I would actually suggest a little effort to find a replacement motor, the basic design has not changed dramatically over the years. But my thought is based on the fact that a 27 year old fan had a much bigger mounting plate than most modern fans, and they usually face mounted to the ceiling joists, so getting it out will most likely involve destroying sheet rock.
If you decide to replace, it is well worth the extra cost for one of the new quiet models.