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JaMarcus Russell -- Oakland Mansion in Foreclosure

3/3/2011 3:02 PM PST BY TMZ STAFF

JaMarcus Russell -- widely regarded as the greatest bust in NFL history -- is in danger of losing the $2.4 million mansion he purchased after signing with the Raiders back in 2007 ... TMZ has learned.

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According to documents obtained by TMZ -- foreclosure proceedings have begun on the former #1 overall draft pick's house ... after he allegedly failed to pay $195,512.05 in mortgage payments.

Now, if the unemployed QB doesn't cough up the cash in the next 3 months, the bank will put the home on the auction block. 

FYI -- Russell famously signed a RIDICULOUS contract worth around $60 mil in 2007 -- and then proceeded to only win 7 games in three pathetic seasons while gaining about 400 pounds.

25-year-old Russell was eventually released from the team -- and is currently out of professional football.

We called JM's rep for comment -- who told us he had yet to speak to JaMarcus about the situation.

For more sports stories, check out tmzsports.com!
69 COMMENTS

No Avatar
1.

BREAKFAST4    

A lockout means something completely different to him.

1243 days ago
2.

Mike    

$60...mill buys a lot of ho hos...

1243 days ago
3.

Howard    

Greatest bust in NFL History? Brian Bosworth has something to say about that.

1243 days ago
4.

byebye    

they don't have mansions in oakland, but be another city lol

1243 days ago
5.

Fan    

When will athletes and celebs learn to put a small percentage of their money into a savings account? You know, just in case there is a hiccup in their career?

There certainly have been enough examples for them to learn this lesson.

1243 days ago
6.

Cmac0309    

This douche still has a rep?

1243 days ago
7.

Cartman    

JaMoron, pay yo bills.

1243 days ago
8.

anony    

You're telling me that this guy blew through the $31.5 million in guaranteed money he got?!?!?
Or is he just not paying his bills.

This guy IS then the biggest bust in NFL history.
Even worse than the current #1, Ryan Leaf.

1243 days ago
9.

Karin    

Biggest loser ever. How could you even look in the mirror????????

1243 days ago
10.

soulofanangel    


It's not how much you MAKE, it's how much you SPEND!

A million made and a million spent....YOU ARE BROKE!

1243 days ago
11.

MP    

Haven't these athletes heard the phrase, "save it for a rainy day?" I have no sympathy for people like this. He made millions of dollars and squandered it.

1243 days ago
12.

Phreaky    

No one cares TMZ - why do you publicize these athletes that no one has even heard of? This guy isn't even in football anymore? Is it because you have guys around your office that are sports fanatics? The people that come to read about Charlie Sheen and Lindsay Lohan do not give a f*ck about these athletes stories.

1243 days ago
13.

efnsteve    

Greatest bust in NFL History? Brian Bosworth has something to say about that.

Posted at 10:07 AM on Mar 3, 2011 by Howard
------------------------------------------------------

Nice pull. Don't forget Ryan leaf, I think he wins.

1243 days ago
14.

TheHOLETruth    

Dude apparently didn't understand that you have to work and work-out for the money, not just pig out. Now he has another slice of reality pie... you just don't keep buying stuff to impress because in theory you can afford it-and some point you PAY for it. So he can kiss that house goodbye.

But at least he can say one thing, it was fun while it lasted.

1243 days ago
15.

Lori    

no mansions in Oakland @ #4...... check your facts before you insert foot in mouth :-) lots of them.

1243 days ago
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