This is very sad. Last night at our marina in Kalama WA, this 50s Fairliner sank at the slip. It was later found the hull developed a crack. I again helped with my Sea Ray trailer. Man that thing was heavy!
If they care about it they should get 4 or 5 blocks along that keel or it won't be straight for long. This wasn't good for the engine and wiring but the boat got wet .... boats get wet. I hope they jump on the situation and do her good. They are easily driven hulls so an OB conversion would work well.
With the ample availability of Fairliners around here, I'd imagine it's loads cheeper to buy a new (used) one and scrap this one. Spent many days crusing as a kid on friends 31 Fairliner. It was faster and handled rough seas much better thatn our 31' Trojan.