Chrysler Repair: 95 2.5L V-6: check engine light, temp gauge, correct group

Question
just bought a 95 sebring w 2.5 and the check eng light comes on and the water temp goes up  but doen't overheat  what could be the cause?

Answer
Hi John,
The engine controller memory has a stored fault code that is indicative of some engine control problem which will help us determine the cause.You can readout the engine controller for stored fault codes with your ignition key. Turn it: "On-off-on-off-on and leave it on" (doing this within an elapsed time of 5 seconds or less). The check engine light will remain 'on' but then begin to flash, pause, flash, etc. Count the number of flashes before each pause. The last sets of flashes will be five in each. Then repeat to be sure you have the numbers correct. Group the numbers in pairs to form two-digit numbers which are the codes. The last code will be 55 which means end of readout.
You can get the meaning of the codes at www.allpar.com/fix/codes.html
The translations aren't specific enough to know exactly what to do, but directs you toward the system in which a fault was found. You can send me a follow up question for more specific advice. If I am "maxed out" then use the comments section of the 'Thank and Rate' tab below to reach me.
Tell me more about the temp gauge: how quickly does it rise and what reading does it stabilize at? Are you loosing coolant to the ground, or do you see excessive white smoke come from the exhaust pipe when you start the engine from a cold shut down state? We can work on that too if you can give me any more info.
Roland