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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

No Avatar
16.

MyTmar    

Oh well, another washed up financially broke athelete --no news here lol !!

501 days ago
17.

LRo    

The NFL, NBA,

501 days ago
18.

CriticXtreme    

I can never understand this. You boost about big money then it's blown.

501 days ago
19.

nAT cOLE    

You really want to stop a FORECLOSURE? I went to Financial Screen Shots – got the link from stopforeclosurefraud com. I ordered the Loan Search Within 2 days I got back the info showing my loan was securitized. I order the full package of all My do***ents and it contained everything! I have absolute evidence my mortgage note was sold in 2008. I stopped paying 2011 and I am being foreclosed by Bank of America. My lawyer says they have absolutely NO STANDING and he plans to sue the lawyers bringing the case into court. I finally have BOFA in a lie! More proof at http://deadlyclear.wordpress.com/2012/03/15/securitized-distrust/ Anyway, felt such a need to express myself. Good luck everyone.

499 days ago
20.

nAT cOLE    

You really want to stop a FORECLOSURE? I went to Financial Screen Shots – got the link from stopforeclosurefraud com. I ordered the Loan Search Within 2 days I got back the info showing my loan was securitized. I order the full package of all My do***ents and it contained everything! I have absolute evidence my mortgage note was sold in 2008. I stopped paying 2011 and I am being foreclosed by Bank of America. My lawyer says they have absolutely NO STANDING and he plans to sue the lawyers bringing the case into court. I finally have BOFA in a lie! More proof at http://deadlyclear.wordpress.com/2012/03/15/securitized-distrust/ Anyway, felt such a need to express myself. Good luck everyone.

499 days ago
21.

E    

The house pictured is not the house that AI lives in.

499 days ago
22.

Lynda Jones-owings    

That does not look like a young mans house. It looks like it might belong to a old guy.

498 days ago
23.

Faith914    

I'm sorry but do u really think someone like AI would have that ancient stuff in his hime??

497 days ago
24.

yobro    

PLENTY OF BRO'S FCUKEN UP OUT THERE, CALL YOUR BOY OBAMA FOR SOME OBAMA MO TO BAIL YOUR BLACK AZZES OUT

493 days ago
25.

chris mathews    

You know it's funny that mainstream America who swears they are so smart and diligent can't figure these situations out. With all of these actors and musicians letting their homes go into foreclosure ( Nicholas Cage & R. Kelly) do you think they are really broke? No dummies, their property value has probably depreciated like many homes now and it makes more since to re-fi and let it go.....this is the same game mainstream america has been doing for years and our kind has just gotten hip to it. Ask Donald Trump.

493 days ago
26.

chris mathews    

Mainstream America I can't believe you haven't figured this out. Do your really think studs like Nicholas Cage, R. Kelly, and Donald Trump really go broke....No, their property value probably depreciated like virtually every home nowadays and they do a re-fi and let it go. I know people think blacks are not that smart but we've learned the game from you guys. Won't b hard to get another home particulary if u got a few bucks.

493 days ago
27.

willie     

How does a guy who made over 100mil in a short time have a home in foreclosure ?

493 days ago
28.

DA SKULLTAKER    

Next Reality Show- Rappers n Ballers showing where they used to live, freakin dummies

493 days ago
29.

David CLark    

He should have worried about practice more!

493 days ago
30.

WhyAIWhy?    

Allen Iverson seems to be a combination of the NBA's Terell Owens, could't get along with his teams and other players, thinking he's above it all. Practice? We talkin' about Practice... and MC Hammer where he thought he could afford hire his whole neighborhood... Some of these players spend it all when they are making it and forget or don't think it will end and they will have to retire. This about this Floyd "The Money Team" Mayweather Jr. may be next ask "50 Cent". He should have fought Manny for the 50-60... million, who now may retire...

493 days ago
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