Six Athletes with Foreclosed Properties

While foreclosures seems to hit average Joes, several -- even big-name -- celebrities could not escape this problem. Some have succumbed to the real estate crunch, in particular, professional athletes. Many of them live beyond their means and find themselves in trouble after spending too much after their playing days.

1. Antoine Walker

Walker earned his stripes playing for five different teams in the NBA, tallying a total of $110 million throughout his successful career on the basketball court. In 2010 though, he filed for bankruptcy protection for liabilities that exceed his assets by $9 million. The cause? Writing $800,000 in bad checks for three Las Vegas casinos and a gambling problem. His 7,000 sq. ft. mansion in Boca Raton, Fla., worth $2 million was repossessed with a mortgage of $4 million.

2. Lenny Dykstra

Known for tobacco chewing and a successful stint in Major League Baseball, Lenny "Nails" Dykstra was a player for the New York Mets when they won the 1986 World Series. Even after retirement, he kept spending until the money dried out eventually. He was so broke he was forced to sell both his World Series rings and his luxury mansion in Thousand Oaks, Calif., for $25 million in 2008. The property fell into foreclosure and was sold to an unnamed buyer at an undisclosed price in Jan. 2011.

3. Sergei Fedorov

A Russian hockey player famous for his stint with the Detroit Red Wings, Sergei Fedorov is an example of pro hockey success. However, in June 2010, Trust and PrivateBank filed foreclosure notices on two properties he owned. One of them was a 4,000 sq. ft. home with four bedrooms, a Jacuzzi, sauna and gym. This was the result of his former financial adviser, though, who he successfully sued for $60 million.

4. JaMarcus Russell

Russell is considered by many sports experts to be one of the biggest draft busts in NFL history. Still, this did not give the Oakland Raiders unreasonable faith in him when the organization signed him for $61 million with a guaranteed $32 million. The money did not last long after his release from the team, with foreclosure being initiated on a $3 million mansion in March 2011.

5. John Smoltz

This pitcher used to play for the Atlanta Braves and is a member of the 3,000 strikeout club. In fact, he is famous for his fastballs - one of which was clocked at 98 miles per hour. With his successful career, it came as a shock when it was revealed that he had property facing foreclosure. He is holding up well financial, though, leading some to believe that this was a strategy for him to get rid of it.

6. Marion Jones

This track and field star has three gold medals, as well as two bronze medals, from the Sydney Olympics back in 2000. It was revealed, however, that she had used steroids and lied about it while under oath. She had to return her medals and spent six months in jail. As she got out, her home in North Carolina home fell into foreclosure because she lost her earning power and $1 million in endorsements.