Allen Iverson looks to have lost his Atlanta mansion to foreclosure, according to new information from TMZ.
“Iverson allegedly defaulted on a $1.2 million mortgage which sent the $4.5 million home into foreclosure. He briefly fought off an auction…but ultimately, he couldn’t stop it,” the website reported.
The former All-NBA guard, who made more than $154 million over his 14-year NBA career, is no stranger to the foreclosure process.
In March 2011, Iverson’s six-bedroom, nine-bathroom, 6,848-square-foot Cherry Hills, Colo. mansion foreclosed with Iverson owing a $2,572,914 balance.
His six-bedroom mansion in Villanova, Pa. sat on the market for three years before selling in 2010 for $2.6 million with a list price of $6.3 million.
The 2000-2001 NBA Most Valuable Player is reportedly broke. However, TMZ is reporting that the 38-year-old actually has millions in an account that gives him $1 million annually and the remaining balance when he turns 55.
Records show that he agreed to pay his former wife Tawanna $3 million last month in a divorce settlement.
Iverson left the NBA in February 2010 with the Philadelphia 76ers.