Posted in: Basketball

Allen Iverson’s Foreclosed Mansion To Be Auctioned On Tuesday

Allen Iverson mansion

The bank is coming after former NBA superstar Allen Iverson.

Iverson, who reportedly earned about $154 million over the course of his pro basketball career, is apparently about to lose his Atlanta mansion for failing to make the monthly mortgage payments.

TMZ claims that the Allen Iverson mansion foreclosure sale is scheduled for Tuesday unless the former NBA guard can make good on the debt:

“Iverson purchased the home back in 2010 for $4.5 million — but according to official records, he defaulted on his mortgage and the bank foreclosed. Now, the home is set to be sold at auction on December 4th … along with all the crap inside …

“A.I. still has a chance to save it if he comes up with the cash before auction time … but the clock’s ticking … fast.”

In addition to the foreclosure, Iverson is going through a divorce, which is probably going to be expensive, and, as The Inquisitrpreviously reported, a judge ordered his bank account attached in February after a default judgment was rendered against him for failing to pay a jewelry store nearly $1 million.

A former NBA Rookie of the Year, MVP, and four-time scoring champion, Iverson spent most of his 14-year career with the Philadelphia 76ers, He also was a member of the Denver Nuggets, Detroit Pistons, and Memphis Grizzlies as well as played for a team in Turkey. He averaged 26.7 points, 6.2 assists, and 3.7 rebounds for his NBA career. He averaged 29.7 points per game in the playoffs, second all time behind Michael Jordan.

Why do you think that so many professional athletes have difficulty managing their fortunes and end up broke?

[Image credit: TMZ]

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