Allen Iverson loses Atlanta mansion to foreclosure

Thursday February 7th, 2013

Allen Iverson lost his Atlanta mansion to foreclosure this week. (Drew Hallowell/Getty Images) Allen Iverson lost his Atlanta mansion to foreclosure this week. (Drew Hallowell/Getty Images)

It's been a rough few days for Allen Iverson.

Less than a week ago, Iverson rejected an offer from the Texas Legends of the NBA's Development League after expressing an interest to return to the NBA.

More recently, an Atlanta judge signed off on his divorce papers, saying that Iverson "does not know how to manage the children," forbidding the former NBA MVP from drinking alcohol for the next 18 months and from drinking alcohol within 24 hours of seeing his children until they turn 18 years old.

On Wednesday, Iverson officially lost his Atlanta home to foreclosure, according to TMZ. The mansion has a $1.2 million mortgage that he failed to pay, so a bank purchased the $4.5 million home this week for $2.5 million.

This isn't the fist time the former Sixers guard has allowed his house to go into foreclosure; in March 2011, his Colorado mansion that he owned while playing for the Denver Nuggets went into foreclosure after he failed to pay $2.5 million. His mansion in Pennsylvania when he played for the Sixers sat on the market for three years at $6.3 million. It eventually sold for $2.6 million in 2010, according to Yahoo! Sports. Over the course of his 14-year NBA career, Iverson earned more than $154 million in salary. Iverson has repeatedly expressed an interest to play organized basketball again since retiring from the NBA in 2010, even hinting at playing overseas for the Chinese Basketball Association. He had a brief stint playing in Turkey, but it appears for now that he will only accept an offer to play in the NBA again.

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