Allen Iverson is now short one home. The former NBA star’s Atlanta mansion has been sold in a foreclosure auction.
The ATL crib was originally on the auction block back in early December, but A.I. was able to stop the proceedings. Nevertheless, TMZ reports the mansion has been sold by the bank for $2.5 million.
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.
A couple of weeks, Iverson’s bitter divorce from his high school sweetheart, Tawanna, was finalized. She received a $3 million dollar settlement as well as child support and other benefits. However, the judge used the signing of the divorce decree as a moment to let Iverson know he felt his role as a father to the former couple’s five children has been deplorable and suggested the VA native was an alcoholic.
Check out photos of A.I.’s now former Atlanta mansion in the gallery.
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