foreclosure

3 years ago, I gave my ex son-in-law money for the down payment on a home. My daughter passed away and my ex-son-in-law had custody of my grandchildren. I have a severally disabled 8 year old grandson who requires 24 hour nursing. My son-in-law was working but didn't have the money for a down payment. When we got to the closing, the mortgage banker said that although they thought that he qualified for the loan, he didn't and I had to sign for the loan. My son-in-law subsequently moved out of state with the children and is now in prison. I have been making payments on the house since then. I listed the house 2 years ago and finally sold it on contract. They made two payments and moved out. I have not been able to rent the house and the house is worth about 30% of what is owed on it. (It is in Cape Coral Florida). I have some savings but am living on a pension and social security. I can't afford to pay off the mortgage and am rapidly depleting my savings. I have decided to let the house go into foreclosure. I have excellent credit, but I guess that I will lose that. What else will happen to me financially? I am also a Florida resident, but have a property in another state that is paid for that I have been trying to sell to help me pay my bills but no luck there either. (My husband died two years ago, and my finances have changed since then.)