Reverse Catalina Smile
Cat 27s frequently have a problem like this, but usually it's the FRONT of the keel that begins to separate from the hull. It's called the "Catalina Smile". Repair can be any number of things, depending on how bad it is. If you've got water entering the bilge area, it means you're probably pretty bad. The "V" is where the keel is bolted to the hull with keelbolts bedded into the lead of the ballast in the keel. If the boat a '77 or earlier, the bolts are mild steel, and usually very corroded. If a later boat, the bolts are stainless, and usually they are in better shape. If the bolts and nuts are OK, the fix is to re-torque the nuts, and fill the "V" with epoxy. If the bolts and nuts are badly corroded, you may be able to remove the nuts, clean the bolt threads and replace with stainless nuts, then re-torque. If the bolts themselves are bad, the fix becomes more problematical - replacing the bolts. Call Catalina, they have a whole procedure, with drawings and specs, that they can provide you to correct the problems.