Author Topic: Jamarcus Russell - And so it begins (Read 10369 times)

Doug_Steele · « **on:** March 03, 2011, 10:12:02 AM »

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.

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.

LatsMcGee · « **Reply #1 on:** March 03, 2011, 10:14:38 AM »

My favorite is when they say they let the bank take their houses back on purpose; epic bullshit.

tendonitis · « **Reply #2 on:** March 03, 2011, 10:15:31 AM »

the purple drank made him miss the payments

epic_alien · « **Reply #3 on:** March 03, 2011, 10:27:55 AM »

he should sell his jewelry, that will get the house caught up, then go play canadian or world league

Nails · « **Reply #4 on:** March 03, 2011, 10:31:45 AM »

How can this be?? i mean Jamarcus has made some wise investments in his life

Bling bling niggus!! BLING BLING!!!! ICE ICE BABY!!! Who needs a mansion when you got BLING BLING NIGGGASSSSS

G_Thang · « **Reply #5 on:** March 03, 2011, 10:35:18 AM »

no way he spent all that money already, no way. that f##ker walked off with over 15M after taxes from that contract.

Jadeveon Clowney · « **Reply #6 on:** March 03, 2011, 10:37:40 AM »

When I get to the NFL, I'm going to invest all my money in Ferraris.

Vince G, CSN MFT · « **Reply #7 on:** March 03, 2011, 10:40:44 AM »

A lot of people's house values are in the sink. Jamarcus's house is worth less than the payout which is why he isn't paying a dime. It'll hurt his credit record but with 60 million it doesn't really matter.

Its a good business move actually.

G_Thang · « **Reply #8 on:** March 03, 2011, 10:43:04 AM »

Quote from: Vince G, CSN MFT on March 03, 2011, 10:40:44 AM

A lot of people's house values are in the sink. Jamarcus's house is worth less than the payout which is why he isn't paying a dime. It'll hurt his credit record but with 60 million it doesn't really matter.

Its a good business move actually.

he doesnt have 60M you moron, made about 15M off the contract.

Coach is Back! · « **Reply #9 on:** March 03, 2011, 10:48:09 AM »

Quote from: Vince G, CSN MFT on March 03, 2011, 10:40:44 AM

A lot of people's house values are in the sink. Jamarcus's house is worth less than the payout which is why he isn't paying a dime. It'll hurt his credit record but with 60 million it doesn't really matter.

Its a good business move actually.

His contract was for something like $60mil with $32mil guaranteed. After taxes he probably kept about 1/2.

JOHN MATRIX · « **Reply #10 on:** March 03, 2011, 11:04:02 AM »

they should have kept him in the fields

The True Adonis · « **Reply #11 on:** March 03, 2011, 11:05:56 AM »

Quote from: JOHN MATRIX on March 03, 2011, 11:04:02 AM

they should have kept him in the fields

Too lazy.

K-1 · « **Reply #12 on:** March 03, 2011, 11:12:09 AM »

"A fool and his money are soon parted." (Thomas Tusser 1524-1580 )

Coach is Back! · « **Reply #13 on:** March 03, 2011, 11:13:43 AM »

You get a job yet TA?

240 is Back · « **Reply #14 on:** March 03, 2011, 11:23:29 AM »

Quote from: K-1 on March 03, 2011, 11:12:09 AM

"A fool and his money are soon parted." (Thomas Tusser 1524-1580 )

Dead by 56.

Parker · « **Reply #15 on:** March 03, 2011, 11:26:03 AM »

Quote from: K-1 on March 03, 2011, 11:12:09 AM

"A fool and his money are soon parted." (Thomas Tusser 1524-1580 )

If this is true, how did the fool get his money to begin with, if he is what we call him, "a fool with money"?

The True Adonis · « **Reply #16 on:** March 03, 2011, 11:28:18 AM »

Quote from: The Coach on March 03, 2011, 11:13:43 AM

You get a job yet TA?

I have a bigger house with provenance and more land than you do, I can give you a job if you need one. I can also teach you how to WIN since you haven`t been able to in nearly 50 years so far.

Les Grossman · « **Reply #17 on:** March 03, 2011, 11:34:12 AM »

Quote from: Jadeveon Clowney on March 03, 2011, 10:37:40 AM

When I get to the NFL, I'm going to invest all my money in Ferraris.

Probably a smarter investment than a "mansion" in Oakland.

K-1 · « **Reply #18 on:** March 03, 2011, 11:41:37 AM »

Quote from: Parker on March 03, 2011, 11:26:03 AM

If this is true, how did the fool get his money to begin with, if he is what we call him, "a fool with money"?

He got drafted by the raiders. They paid him an insane signing bonus (like they do for most of their 1st rd busts).

I can't think of any other team that would or was wiling to pay him that (let alone draft him) with the first pick.

He was lazy at lsu and he's lazy now despite all his gifted talents. Wasting GOD given talents that lands you prosperity in any form and you not recognize this makes you a fool therefore he will no longer prosper.

This same rule applies to me or anybody on this planet if you don't wakeup before it's too late. J Russ is DONE!

Nails · « **Reply #19 on:** March 03, 2011, 11:43:01 AM »

Quote from: Vince G, CSN MFT on March 03, 2011, 10:40:44 AM

A lot of people's house values are in the sink. Jamarcus's house is worth less than the payout which is why he isn't paying a dime. It'll hurt his credit record but with 60 million it doesn't really matter.

Its a good business move actually.

NFL is not guaranteed , he only keeps his signing bonus and the years he played he didnt finish of his contract... BUST

Coach is Back! · « **Reply #20 on:** March 03, 2011, 11:45:00 AM »

Quote from: The True Adonis on March 03, 2011, 11:28:18 AM

I have a bigger house with provenance and more land than you do, I can give you a job if you need one. I can also teach you how to WIN since you haven`t been able to in nearly 50 years so far.

That's ok, I'm perfectly happy with my home on the beach overlooking Catalina Island, my other home on the golf course in Palm Springs overlooking the mountains. Thanks for teaching me to win. Earning money instead of inheriting it is much more satisfying. Thanks for playing and teaching me to win.

Nails · « **Reply #21 on:** March 03, 2011, 11:46:17 AM »

this guy is American Ejumucated... no problem getting a job with any fortune 500 company

Krankenstein · « **Reply #22 on:** March 03, 2011, 11:50:54 AM »

Quote from: Nails on March 03, 2011, 11:43:01 AM

NFL is not guaranteed , he only keeps his signing bonus and the years he played he didnt finish of his contract... BUST

I wish I could recall how they factor the remaining years of a contract against the salary cap of a team. Its just plain stupid. Heard it one time and it was like listening to a algebra story problem.

Fury · « **Reply #23 on:** March 03, 2011, 11:54:58 AM »

Bigger bust than Ryan Leaf. Called it when his only claim to #1 was a good game against ND.

Vince G, CSN MFT · « **Reply #24 on:** March 03, 2011, 11:56:03 AM »

Quote from: G_Thang on March 03, 2011, 10:43:04 AM

he doesnt have 60M you moron, made about 15M off the contract.

Doesn't matter how much money he got as it is obviously NOT the point I was making you lawn jockey. ....

The value of his house is less than the amount of money is owes on it which is why he prob isn't making any payments on the house so he's letting it go. A lot of people are doing it these days because of those circumstances. Until the housing market stabilizes, expect this to happen

Author Topic: Jamarcus Russell - And so it begins (Read 10369 times)

epic_alien