Ford Repair: knocking in the bottom of the engine ford econoline 150, ford econoline, rod bearing

Question
Hi Erik. We have a 1990 econoline 150 with a v8 engine. It has a small knock in the bottom of the the engine and the oil pressure keeps dropping. We put duralube in it hoping it would quiet the knock but it did not. We think it needs a new oil pump but we don't have a lot of money to put into it. Is there anything we can do ourselves to fix the problem? We aren't mechanics but we can learn and follow step by step instructions. Please help us. My husband can tell you more details if you need them. Thank you

Answer
Hello and thanks for the question...I'll try to help.
If the rod bearing has spun and has shifted off to the side, the crankshaft is certainly damaged. You will need to replace or resurface the crankshaft before anything is done. Then you will need to have new bearings installed. This is a costly procedure. Your best bet is to get a junk yard engine or bite the bullet and get a reman engine.
Hope this helps,
Erik