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Allen Iverson

Atlanta Mansion to Hit

Foreclosure Auction

12/1/2012 2:25 AM PST BY TMZ STAFF
EXCLUSIVE

1130_allen_iverson_house_launch
Former NBA star Allen Iverson's about to lose his massive Atlanta mansion -- because the bank is gearing up to sell the house at auction next week, TMZ has learned.

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.

Iverson's currently going through a nasty divorce with his estranged wife, and he's famously been dealing with money problems ... including a nearly-million-dollar debt to a Georgia jeweler.

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.

Calls to Iverson's camp weren't returned.

48 COMMENTS

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1.

Hohan    

Evander Holyfield's foreclosed home has craps bigger than this.

693 days ago
2.

Toallthehatersoftheworld    

How do u all know its crap inside his home tmz please stop stereotyping people

693 days ago
3.

NOT ELMO    

i told you so...

693 days ago
4.

manbearpig    

what i find incredibly amusing is how iverson ever managed to supposedly handle a single class at georgetown in his college days. there is no way he actually took legit classes himself and got good enough grades to stay there for a couple years.
the dude made millions and is broke becuase he is dumb.
he wasted it on useless crap like customized jewelry that has no resale value other than scrap.
he was banned from casinos in atlantic city and detroit because he and his group of losers were such a-holes to everyone from casino workers to other patrons that they booted his behind from all those places.

693 days ago
5.

Who the Hell is Khloe    

How is this guy in debt and have foreclosed home?! So many dumb athletes and rappers....

693 days ago
6.

Ginger    

Too many baby mommas. Common theme for rappers and athletes.

693 days ago
7.

Chase    

$4.5 million? For THAT? In 2010?!!? Man, someone saw him coming a MILE away!!! Typical generic McMansion for a baller, the property is kinda nice, but NO WAY is that thing worth $4.5 million.

693 days ago
8.

LRT    

A FOOL and his money are soon parted!

692 days ago
9.

GoodGirlNPursuit    

I am so sick of hearing about Black rappers, ballers, entertainers etc filing bankruptcy and losing their homes. Stop wearing your investments and pay your bills geeeeze...

692 days ago
10.

EFFBOMB22    

Maybe he can sell his grill for extra cash

692 days ago
11.

Brooke79    

Why does EVERYTHING have to be color related? White washed up actors may not lose their homes but they get arrested 100 times a year, make drunken phone calls

692 days ago
12.

EFFBOMB22    

Another tragic tale of a washed up nba star.......at least hes not in jail like most rappers

692 days ago
13.

maria    

I'm from NJ and remember him when play in Philly, he was a star, but a punk with a bad attitude and threw is carreer and talent away. Shame!

692 days ago
14.

Lisa    

Iverson's currently going through a nasty divorce with his estranged wife.................Geez, how long is this divorce taking???? Did they file for divorce as much as 7 years? This has got to be the longest divorce process in history.

692 days ago
15.

Johnny    

You all neeed to stop . Allen is not broke . That was found out in a law suit last year over some jewelry last year. While he was playing ball . He set himself up a payment plan that he will pay himself a million a year until he turns fifty, which at that time the rest of the *$54 MILLION!!!!!* will be released..... Sound like a smart man. So TMZ need to stop .

692 days ago
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