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Photo of Allen Iverson Foreclosed Atlanta Home

in News, Sports

Allen Iverson Suffers to Foreclosure, Loses $4.5 Mil Atlanta Mansion (PHOTOS)

by Memphis Rap February 11, 2013, 1:18 pm

Former NBA star and Memphis Grizzlies player Allen Iverson’s Atlanta mansion home has reportedly been sold off in an auction after foreclosure.

Celebrity gossip site TMZ claims Iverson allegedly defaulted on a $1.2 million mortgage which is why the former NBA star loss his home to foreclosure.

Allegedly after a long battle with financial problems and a $1.2 million mortgage debt, the home went into foreclosure, and the bank purchased Iverson’s $4.5 million mansion.

However, the bank didn’t pay $4.5 million, instead the bank apparently bought the home for $2.5 million.

Iverson reportedly earned more than $154 million over the course of his 14-year NBA career, which included a shot stint in 2009 with the Memphis Grizzlies.