2004 Evinrude 200HO trail arm to bracket screw: stripped threads

I was having an intermittent issue with my 2004 Evinrude 200HO motor not trimming down properly. I come to find out the hex head screw holding my trailering arm bracket to mid-section came loose and screw was backed out a enough to bind. I tightened it back up, but after returning home to my garage noticed the screw was missing ( fallen out on the highway drive home). Now my replacement screw from Evinrude does not hold tight as the threads aappear to be stripped out of the mid-section casting. Is there an easy, inexpensive solution to keep my replacement screw tight in place so that I can utilize the trailering arm properly?

http://i293.photobucket.com/albums/m...udeHO_Bolt.jpg

I ve got one that is the same way, I found a larger bolt with the same type head and screwed it in ,but this is a temporary fix as the threads are about gone,I also used some thread locker.

You could mix up some Marine-Tex fill the hole, let it cure then drill and tap it.

Have you just tried running a tap into the hole? Maybe the threads just need cleaning up. Or coating the new screw with threadlocker?