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NBC: JaMarcus Russell's Oakland Mansion Foreclosed


mossomo

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JaMarcus Russell's return to greatness isn't going as well as planned.

The former No. 1 pick of the Oakland Raiders, famous for wearing mink coats and taxing a heavy toll on the team's bench, needs to find a job soon.

Foreclosure proceedings have started on Russell's Oakland mansion, according to TMZ. If the former LSU star can't come up with $195,512.05 in backed mortgage payments in the next three months, his house will be auctioned off.

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JaMarcus Russell's return to greatness isn't going as well as planned.

The former No. 1 pick of the Oakland Raiders, famous for wearing mink coats and taxing a heavy toll on the team's bench, needs to find a job soon.

Foreclosure proceedings have started on Russell's Oakland mansion, according to TMZ. If the former LSU star can't come up with $195,512.05 in backed mortgage payments in the next three months, his house will be auctioned off.

Click to read more

How did he not pay it off in cash while he was playing?

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I don't feel sorry for someone who can pay cash for a place to live while others who lost their job can barely pay their bills and have a home mortgage problem due to the greed of a bunch of bankers.

Maybe he can short sale it, but the market for properties that large might not be that big, unless it's one of those sneaky bankers.

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Why are people assuming he can't afford it? He might have not been able to sell it or even short sell it because it's worth less than what he paid (consider the dates of purchase and sale) and he decided to just let it go. The smart financial move would be to let it be foreclosed on. He isn't making the money he used to make and holding onto that house or taking a huge loss makes no sense.

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