"01 Sebring Sedan with blown engine - HELP

My engine is blown. The water pump failed, coolant mixed with oil, engine gone. No indication that water pump failed until temps shot up, and oil began leaking. Has anyone heard of this before? I've been told it is not worth putting a rebuilt, or especially a new engine in (the car has 120,000). It has been a great car - brakes and a starter have been it in 4 years. What to do now. Any suggestions would be appreciated.

My engine is blown. The water pump failed, coolant mixed with oil, engine gone. No indication that water pump failed until temps shot up, and oil began leaking. Has anyone heard of this before? I've been told it is not worth putting a rebuilt, or especially a new engine in (the car has 120,000). It has been a great car - brakes and a starter have been it in 4 years. What to do now. Any suggestions would be appreciated.
Witch motor do you have ?3.5.or 2.7 or a3.2