After going through your case, dentist might have rightfully suggested you to undergo extraction and bone grafting ASAP. If you will delay the condition, there are chances of getting the infection worsened. And implant is only placed after proper healing is done on the extraction socket and the wound gets completely healed at an approx of 3 months.
Placing an implant immediately after tooth extraction can cause implant failure. If money is your worry than don't freak out as you can take the help of care credit where you have the option of paying money in easy monthly installments. The company will pay to the doctor on your behalf.
Also you can visit a nearby dentist school for treatment at much less cost. There you will be treated by yound learning dentists but under the guidance of experts.
For more info on implants after tooth extraction you can read an article....http://www.identalhub.com/dental-understanding-dental-implant-bone-grafting-682.aspx
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