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Allen Iverson loses his home to foreclosure, report says

February 07, 2013|By Houston Mitchell
  • Allen Iverson with the Philadelphia 76ers in 2009.
Allen Iverson with the Philadelphia 76ers in 2009. (Matt Slocum / Associated…)

Former NBA star Allen Iverson has lost his Atlanta mansion to foreclosure, according to TMZ.com.

Iverson allegedly defaulted on a $1.2-million mortgage, and Iverson's bank purchased the mansion on Tuesday for $2.5 million, the website reported.

There have been several reports over the last few years that Iverson is broke despite earning $154 million in salary during his career.

Iverson played for 14 seasons in the NBA and was named league MVP in 2001. He last played in the NBA in 2010.

Iverson also was in some hot water earlier this week when an Atlanta divorce court judge criticized his parenting skills, saying Iverson "does not know how to manage the children; has little interest in learning to manage the children and has actually, at times, been a hindrance to their spiritual and emotional growth and development."

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