He stepped in for a neighbor. It cost him everything he had. Late on a Thursday in October, Nate Brennan watches a man walk a woman out of a bar by the wrist. He does not stop to run the numbers first. That is the whole of his decision-making process, and it has cost him money he did not have and at least one person he loved. Maura Kelleher lives next door at 14 Fayette with a note against her house that she has been paying interest on for two years. The balance never moves. The interest never stops. Nate works the water and a second job beside it, and he has no savings, no plan, and one habit he cannot break: when somebody is going under in front of him, he puts his hand out. By spring he has paid her loan down with money he did not have. He has also come into a report about what is buried behind the paint shed on the old yard: forty-one pages, concentrations that only go up, under a chain-link fence that was never going to hold. And he has a note of his own, taken out years ago for his mother's surgery, that a bank sold twice and a servicer rewrote into something that can never be paid off: interest only, the balance frozen, the ten years running out in April. Low Water is a short novel about a harbor city that ran out of reasons, and about the arithmetic of obligation: what a person owes, what a debt is permitted to do to a life, and who is left holding the paper when the water goes out.