Working with text

Newbee here. I`m working on a signiture pic. I have text in it, kind of spooky text which has blood dripping from it. My text is not red, but I would like to make the dripping blood under text look like blood. What do I need to do to acheive this. Keep in mind I`m a noob....lol

Well, there are two options which I think are the most workable.
1) rasterize the type layer, set it to preserve transparency, and paint over the bottom of the text in red.
2) if the blood starts at a uniform height on the text, you could apply a gradient in the layer effects panel. double click on the layer and go to gradient. create one that suits your image.