Dead in the water....Crank Shaft!

[MadMaxVT]

Hi.

Just got a 1987 V20 with a Merc 150 (Black Max). New lower unit was put on at the end of last summer. Second time out this summer and we were dead in the water. RPMs were up, but no gears. They say it's the crank shaft.

Any suggestions? Our boat shop suggests new motor at $8K and up, or fixing ours at at least $4K. They say we need to have at least a 110HP on the boat. The motor was run in the Long Island Sound it's whole life, but after being on the Sound, it was run up a fresh water river each night, which is where it was kept. Now it is only in fresh water since we are land locked.

We love the boat, but don't have a lot of money. Any suggestions? I would like to go with either fixing or finding a good rebuilt.....if I can.

Thanks for your help!
Max