JaMarcus Russell Closes House Deal, Escapes Loss to Foreclosure

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.