Alpharetta resident and former NBA star Allen Iverson has officially lost his mansion to foreclosure. TMZ reports that Iverson's bank purchased the estate at auction this week for $2.5 million — a whopping $2 million less than it's reportedly worth. What's worse, photos (above) are surfacing of the home's interior aesthetic, which could aptly be described as "upscale retirement community."
Trouble began when Iverson defaulted on a $1.2 million mortgage, the gossip site reports. Last month, just as Iverson's north Fulton mansion was set to hit the auction block, he filed a lawsuit against the lender trying to take the $4.5 million home. Iverson claimed his estranged wife signed for the mortgage in an attempt to financially cripple him. Goes without saying the two are embroiled in a nasty divorce. Adding salt to the practice-dispharaging star's wounds, TMZ reports the judge in Iverson's divorce case "basically just called him the worst dad in the universe" on the same week he coughed up his crib.
· Allen Iverson loses Atlanta mansion [Access Atlanta]
· Allen Iverson Loses Atlanta Mansion in Foreclosure [TMZ]