Loren Krytzer: Blanket Sold For $1.5 Million Brings New Woes For Disabled Man

Loren Krytzer lived on just $200 a month, was unemployed, and his only income was a disability pension after he lost his leg in a car accident back in 2007. Krytzer was destitute, living in a friend’s shack, and was so broke he was forced to send his children to live with their grandparents. However, unbeknownst to him at the time, his situation was going to take a dramatic turn for the better.

As previously reported by the Inquisitr, thanks to a forgotten blanket he inherited from his mother, his luck changed and he became a millionaire after selling a Navajo blanket that was worth $1.5 million. The blanket was reportedly from the 1800s and had been sitting in his closet for seven years, CNBC reports.

“The sale of the blanket gave me a new lease on life,” Krytzer told the news station. “It truly did.”

When Loren Krytzer entered a California auction room in 2012, he was barely surviving on the meager pension and he lived in a tiny living space. Just a few minutes later, his life changed forever, thanks to a $1.5 million blanket.

“They had to bring over water and stuff to me and wipe sweat off my head,” Krytzer said. “I started hyperventilating because I couldn’t believe it. Everything just went limp and I couldn’t catch my breath.”

After losing a leg in a car accident and living on $200 a month, Loren Krytzer walked into an auction room with a blanket once thought worthless. 77 seconds later, he emerged a millionaire. His story will reveal a lot to be thankful for this #Thanksgiving https://t.co/zXxJqZAs0T

— Zack Guzmán (@zGuz) November 21, 2017

But this new lease of life has not come without its own set of unexpected challenges, including tax obstacles. After using the bulk of the auction fortune by buying two homes in California, Krytzer now has new woes, which include having to pay about $10,000 per year for property insurance and property taxes.

The steady revenue is still a difficult part, as his disablity checks have been cut off and the money from the auction is almost depleted. So, Krytzer says that in order to continue living, he will have to move somewhere where living costs are lower. So he and his wife are now trying to sell their $250,000 home in California to move to Idaho.

“We’re getting taxed to death here. I can’t afford it,” Krytzer stressed. “I’m from California, I grew up here, but without working, it’s just hard to survive.”

Krytzer also says he has faced other issues such as dealing with money-hungry family members who heard about his $1.5 million windfall. Just days after the auction, Krytzer said he received numerous calls from distant relatives asking for a cut. Things got so bad that he suffered from frequent anxiety attacks and he had to stay in a hotel for five days to unwind.

Despite the problems that came with his newfound wealth, Kryzter says the positives have outweighed the negatives.

“I firmly believe I’m here because years ago I turned my life around,” he explained. “The things I’ve been through, I tell people it’s a strong faith and a strong mind. Without those things you’re not going to make it.”