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Allen Iverson

Loses Atlanta Mansion

in Foreclosure Auction

2/6/2013 12:30 AM PST BY TMZ STAFF
EXCLUSIVE

0205-allen-iverson-getty
Allen Iverson
is officially mansionless -- TMZ has learned the former NBA star's Atlanta home has been sold off in a foreclosure auction.

TMZ broke the story ... 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.

Sources close to the sale tell TMZ ... Iverson's bank purchased the mansion yesterday for $2.5 million.

It's been a rough week for Iverson -- on top of losing his mansion, the judge in Iverson's divorce case basically just called him the worst dad in the universe.

1207_allen_iverson_home_footer

For more sports stories, check out tmzsports.com!
52 COMMENTS

No Avatar
1.

KanyeWest    

These things happen

434 days ago
2.

steak man     

Couldn't happen to a nicer guy. Practice! Practice! Practice!

434 days ago
3.

Diamond Goddess!    

Wow!!!
Wasn't it just yesterday this dude was on top of the world?
Yikes!
Athletics is usually short money for these guys.
It's a LOT of work to just end up broke anyway at the end of it.

434 days ago
4.

To ya     

Aaaaw I feel so bad for him. Losing his kids, job and his home. Now I have compassion but my friend dates one if his crew members and she said allen is so rude and mean to people trying to come up to him for aughtographs and pics. He told some people trying to get his aughtograph: NO IM GOOD! And she said he tries to act like hes on the phone when he sees them coming over to him. Who does that? He should be happy that people still want to deal with him but nooooo he treats them like crap. Maybe this is his karma coming back to him. Allen please humble yourself, change and be a better person before you lose your mind. Once you lose that you lost forever.

434 days ago
5.

EasilyHard    

The beauty of marriage

434 days ago
6.

MAX    

ANOTHER ONE , GET RICH LOSE EVERYTHING THAT'S THE BROTHER WAY

434 days ago
7.

tgrfan42069    

maybe if he didnt have a me attitude he would still be playing.

434 days ago
8.

Slizzardone     

**** that stupid alcoholic idiot

434 days ago
9.

The Ghost of John Lennon    

The sporting industry generates an estimated $500 billion annually. Blacks make up only 13 percent of the United States population, but Black athletes are 80 percent of NBA players, 67 percent of the National Football League players and 9 percent of Major League Baseball players. While their finances may look “healthy” right now, too often professional athletes end up broke at the end of their careers, and Black America loses out on their potentially valuable contribution. A report noted that nearly 80 percent of NFL players are on the verge of bankruptcy two years after they retire. NBA players aren’t fairing any better, with 60 percent of its former players ending up broke within five years of retirement. The old strategy was ‘let them die broke,’ but today, they’ve developed a new strategy: ‘Let’s make our Negroes rich’… See it’s like a plantation; you’re just a piece of meat throwing balls in a hoop. You’re a rich slave, you’re sharecropping again! Imagine a world where Black professional athletes hire only Black accountants and lawyers, support struggling Black institutions, build businesses in the community to provide jobs for Black youth, and do something more than just host sports camps; but build institutions and lasting wealth instead of wasting it away. Black athletes have been conditioned to go to White colleges, overlook the Black colleges, and to enrich the new plantations of the sporting world. Doing something with and for their own people is not even on the table most of the time. All of the athletic talent of Black athletes and the money they earn is being used to enrich football and basketball programs at White colleges. And then they go on to enrich the professional sporting industry. Over the next 20 years, you will lose more and more of your Black colleges because your star talent won’t attend those schools anymore.

434 days ago
10.

Gretel    

When I bought my house I could afford it and made plans to fast track to pay it off. He earns a hell of a lot more money than my household. Tough shlt. Next time live within your means.

434 days ago
11.

Minime85    

Total waste of talent!!!

434 days ago
12.

Meanie    

Another hood rat who can't do math. Yawn.

434 days ago
13.

Dr Samuel Weiscrak    

So he defaulted on a $1.2 million mortgage, the place went to auction for $2.5 million, so right know he has a claim in for 'bout $1.3 million for excess funds that he is legally entitled to. Or at least he should. Not a bad outcome on a foreclosure....

434 days ago
14.

whateveryou    

Beautiful house.

434 days ago
15.

lynn    

well sell that huge rock in his right ear and he'd be able to cover that mortgage.

434 days ago
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