« BACK TO TMZ TMZ

Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

JaMarcus Russell

Closes House Deal

Escapes Loss to Foreclosure

11/6/2011 2:30 AM PST BY TMZ STAFF

JaMarcus Russell
JaMarcus Russell has finally completed something -- the sale of his mansion ... and just in time to avoid losing it at auction! Not exactly a TD pass, but it's a start.

JaMarcus sold the Bay area home at the end of September, and the guy who bought it says he paid just over a million bucks. Back in 2007, when JaMarcus was a hot shot rookie -- with a $60 million contract -- he paid $2.4 million for the pad.

As TMZ first reported, the home was in foreclosure and JM nearly lost it at auction because he allegedly failed to pay $195,512.05 in mortgage payments.

We're told JaMarcus -- almost unquestionably the biggest NFL bust -- cleared out all his memorabilia before he moved out.

Probably high school and college stuff.

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

No Avatar

1.

Everyones~A~Star    

Thats the problem when we live to excess, the money train might end and what you pay for with credit, is not really yours....yet. Good luck in the future guy.

1053 days ago
2.

TheHOLETruth    

This story is getting too old. Football/Basketball players from the hood, get the big break, make a ton of money, BLOW IT then they're crying the blues because they're broke so they beat their women--get in more ho*****er--that they can't pay for. It' just plain stupid. They're are as bad as those folks who hit the lottery. Too much money, too fast is not good for the uninitiated.

1053 days ago
3.

vanity    

this is what i don't get...even if his agent,tax, and loved ones took 75% of that 60 mill the man would still have 15 left over...why not just buy the house outright and then you don't have to deal with a mortgage???

1052 days ago
4.

Kaffee    

Where in the hell did all that money go?

1052 days ago
5.

yessir    

"he paid $2.4 million for the pad. "

He didn't pay for the pad. If he did, it would not be in foreclosure. He took out a mortgage i.e. the bank paid for the pad. I don't get it. If you have the money why not buy it outright instead of taking out a loan. The business sense of some of these athletes is pretty disturbing.

1052 days ago
6.

bigsampson    

funny how TMZ one of the worst sites at reporting anything tries to clown on a man who has donated more then Harvey and all of your stalkers in your office.

1052 days ago
7.

DirtySouth    

Talk about a bust. This guy has/had mad talent. Could throw the ball 60 yards sitting down. Sad that his stardom went to his head from the beginning. I had hoped he would just hole himself up for the first couple of years, work on his craft and then come out and kill it. But he just took the wrong turn out the gate.

1052 days ago

Around The Web