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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
31.

Mike    

Ummm, Al, you're an idiot.

601 days ago
32.

Shouldn't throw stones u live in a glass house    

Allen Iverson is the man he made philly basketball the most exciting it ever was and energized our whole city everyone goes through problems and again it's connected to a women that he kept around and she loved it when he was taking care of her now just the few million ain't enough she needs more he could have had any woman and kept the mother of his kids around now she wants to financially destroy him hang in there A.I. u will be back on top get together with Larry brown thanks for everything you did for philly your the man

601 days ago
33.

ZOMBYWOOF    

A TYPICAL!!!!!!!!!

601 days ago
34.

ZOMBYWOOF    

A TYPICAL.............

601 days ago
35.

goodnight360    

dam ai

601 days ago
36.

kerrplunk    

Maybe he should sell some of his assets? Hats, shoes, watches, cars.

598 days ago
37.

Mrugowsky    

Hard to feel sorry for this shrimp.

594 days ago
38.

Emily    

People should understand that mortgage is a serious financial commitment. Lender will not wait until the borrower will understand that he/she wants to save a house and will start making payments. A couple of late and missed payments is a sign for the lender that the borrower is unable to pay off the debt, so lenders just don’t want to lose their money. I can understand when a person with low income and regular financial problems can’t pay off the mortgage, but it’s strange when celebrities can’t do that. A friend of mine had a mortgage so she has taken out payday loans online to pay in time and to avoid a foreclosure. Everything is simple, in case you take out a loan then you should be responsible.

580 days ago
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