Another Day Another Atlanta Celeb Faces Foreclosure! Up Next: Allen Iverson’s Mansion… [PHOTOS]

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WTF?!? Gladys Knight’s Son Refuses To Remove Her Name From Chicken & Waffles Restaurants…

Another Day Another Atlanta Celeb Faces Foreclosure! Up Next: Allen Iverson’s Mansion… [PHOTOS]

Dec, 2 2012 | Written by ATLien
Former NBA baller Allen Iverson has faced quite a bit of hardships over the past few years.

[READ: “Financially Strapped” Iverson Offered Substantial Amount To Switch To Football… ]

Iverson, who has been battling his estranged wife in a lengthy on again/off again divorce battle is reportedly battling his mortgage company as well.

[FLASHBACK: Iverson + Lamborghini + Atlanta = Classic Case of “DWB” (PHOTOS)]

A.I. purchased a piece of swanky North Atlanta property a few years back, but due to his recent financial difficulties, it’s looking like the bank is gearing up to sell his mansion at auction next week!

[WATCH: Professional Athletes Share How They Lost it ALL on ESPN’s 30 for 30 “Broke” (FULL VIDEO)]

Details below…

Iverson purchased the home back in 2010 for $4.5 million — but according to official records, he defaulted on his mortgage and the bank has now foreclosed on the property.

According to TMZ, the home is set to be sold at auction on December 4, 2012 along with all of the furniture and fixtures inside.

[PHOTOS: A Peek Inside Allen Iverson’s Atlanta Mansion…]

A.I. still reportedly has a chance to save his home it if he comes up with the cash prior to auction time…. two days from the date of this post!

Who knows… Iverson may just come up with the dough. Stranger things have happened.

Another day another Atlanta celeb facing foreclosure! Who’s next?

Stay tuned…
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Atlanta Police Impound Allen Iverson’s Lambo… [PHOTOS]
Allen Iverson + Lamborghini = Classic Case of “DWB” in Atlanta…
“Financially Strapped” Allen Iverson Offered Substantial Amount to Play Football…
Baby Mama Drama! Allen Iverson’s Ex-Wife Claims He Kidnapped His Kids…
Allen Iverson “Curses Out” Atlanta Police Officer…
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In Atlanta Gossip,Featured,News Allen Iverson
- Jasmine Miers via Facebook
  
  oh how the mighty has fallen…>:(
- Stevenlovinglifelockhart Lockhart via Facebook
  
  Damn AI*,,,,,smh
- Courtney Marshall via Facebook
  
  damn!
- Slim Delgado via Facebook
  
  Sorry,But it’s called stupidity !!!!
- Robin L. Hudson via Facebook
  
  The Answer has problems.
- anotherNote
  
  Let the house go, you don’t need all that anyway. Its just you.
- Sabrina Francois via Facebook
  
  Atlanta is going down.. so sad
- Bugsy Simmons via Facebook
  
  Maybe if he would’ve went to practice?
- big bill
  
  He hasn’t played in the NBA for 2-3 years! WHY is this idiot buying multi-million dollar mansions???
- ALM
  
  This dude really needs a life rehab. It seems as if everything he touches malfunctions.
  
  LXL
  
  I was about to say whatever that negro touches turns to shit. Do these celebrities really think that they have to buy these oversized ass houses to fit in with others just because they have more loot than they know what to do with? I’m sure you can get a very nice sized home between $350,000 – 450,000.
  
  It’s her business
  
  Or what about an apartment! Utilities, water, and garbage paid for! Why do people think they need a house? Why do people think they need to even buy? Everything is not about "investing". There are times when renting is cheaper than owning. Do the math. I know plenty of wealthy people who rent $2,000 a month full sized homes on golf courses and other nice areas, in California, and spend the rest on things like first class travel, and artwork. A home is no longer a status symbol because everyone knows 9 times out of 10 you cannot afford it. And buying a home you cannot afford is passe. Showing wisdom with your money is the new status symbol.
  
  LXL
  
  Well, I think if you plan on being where you are for a long time I would definitely buy a home or townhouse/condo at least with the type of money he had. Even if you had two you could rent out the other for income. You can give a fool a million dollars but will be broke in no time because he was never good with money in the first place.
  
  Keesha J
  
  Or he needs to buy this big house to fit his ridiculous entourage. Wherever he goes, he keeps this large group of hangers on that travel with him from city to city spending his money who don’t have real jobs or serve a real purpose in his life. It’s really sad.
  
  LXL
  
  @Keesha, that’s what exactly what those sorry ass negroes are——–nothing but hangers on and yes men. I never understood why these pro athletes would want to support these grown ass good for nothing and never will be shit and ain’t shit pieces of wastes for human life.
  
  It’s her business
  
  Yes "hangers on" is a great way to describe it.
  
  Loving This Site
  
  They think exactly that. That’s why men like him have these massive homes when it’s only them. Years back T.O said on ESPN once that he hadn’t even gone into some the rooms of his home in several weeks. Well then that would tell anyone with some intelligence that you don’t need all that room.
- Theconnectsean
  
  I am not a fan of his arrogance but I do hate that he have to go through this. When your job makes you a celebrity and then the celebrity lifestyle start affecting your job performance, this is what you get. A little humility could have prevented a lot of humiliation.
- Alethea Michelle Howell-Adams via Facebook
  
  Aww my original crush! Sad for him.
- Lisa James via Facebook
  
  Him & Bow Wow must have same accountant! Smh!
- Mary Brewer via Facebook
  
  Leave my Baby Alone…still love#3!
- versatile
  
  A shame how successful Black athletes just keep losin’ it. If IRS aint’ takin’ it for taxes hoards of kidz and their baby mamas will get it. All that hard work and money and zero to show for it. "Baby Boy" syndrome is alive and well in America. It’s like they’re trying to give validation to "Bell Curve". Watch Mayweather…one lost fight like Roy Jones and it’s all down hill from there. Meantime dumbazz is throwin’ stacks on stacks at cracks. Buyin’ milliUnz of unsellable bling. Broke by 40.
  
  LXL
  
  I agree. Most of these athletes aren’t smart with their finances because they’re dumb asses don’t think of the taxes they have to pay, being irresponsible with their money such as going to the strip club because they want to make it rain, paying alimony or child support because they didn’t want to use a rubber, buying big mansions (which costs to maintain and property taxes), overpriced ass cars, their mooching ass relatives and friends (which they won’t be around when the money is gone), and let’s don’t forget about court costs, bail money, and attorney fees when their asses get into trouble or if someone is suing them.
  
  versatile
  
  In A NUTSHELL!!!!!
  
  It’s her business
  
  Oh, I should have read your comment before I posted my strip club comment. Lol…
  
  It’s her business
  
  And throwing it around at the strip club. I bet he wishes somebody would throw some money at him right now.
  
  LXL
  
  Lol. I hate what he’s going through but these fools need to contact or should have been watching or asking Suze Orman for financial advice. I love watching her show.
  
  It’s her business
  
  Lol @ Suze Orman
- Curtis Jackson via Facebook
  
  Everybody having financial problems!!!
- tori
  
  I really wish Allen had been apart of that ESPN 30 for 30 segment, BROKE, because he was right on the brink of greatness and let his EGO & THUG "LIE" FRIENDS get in the way of it. I’ve seen the inside of the house and the decor looks like something out of the Golden Girls catalog! Allen still looks good I hope he gets it together and leave them CASINOS alone!
  
  It’s her business
  
  Golden Girls catalog? He had wicker furniture in his house? LMAO!
  
  tori
  
  Omg, the rooms looked like they were staged for couples who came strapped with oxygen tanks & vick’s vapor machines! The drapes/curtains hadn’t been in style for at least a century and each room had its own bed & breakfast theme, I was like AIN’T NO WAY IN HELL anyone under the age of 80 purchased that home, especially not no black (former) athlete as showy & gaudy as AI.
  
  ALM
  
  @ Tori: The amount of detail that you gave on the house. LMBO!!!!
  
  It’s her business
  
  LMAO, I’m dying!
  
  LXL
  
  Lol, catching my breath, just dying over here.
- Music
  
  I will never understand why these celebrities with money to do so, don’t BUY their homes. I wouldn’t dare lease a mult-million dollar home when I know that I’m going to be on the road traveling and focused on my career. Why not just purchase a small condo or something cheaper while you’re at the height of your career. Then, when you’re ready to settle down and have made your millions, BUY a home.
- Suthernhummingbyrd
  
  Why in the hell did he even need a mansion in ATL?He already has one in NJ that he can barely pay for….I love you forever A.I., but this is shameful. Do better!
- Jamaal
  
  AHHH, it looks like Al, fell into the "Land of Make Believe" syndrome that many blacks have fallen prey to – They make a little money, move down to Atlanta, and front their way into foreclosures and bankruptcies. A few months ago, this dude was arrested in Atlanta for driving a luxury car with expired temp tags, not too long after that, he showed up at some party in a custom made whip…but he can’t afford the home he purchased..RIGHT. He’s an idiot, and he’s getting what he deserves..
- Heaven Payubishsnomind Cho via Facebook
  
  See what when u on top u can eb on the bottom too nicca lol
- Dynese Washington via Facebook
  
  He should had bought a house that was in his budget.
- Dana T
  
  Okay y’all just because you play for a national team or are in the entertainment business doesn’t make you smart. I’m sorry to hear such news regarding yet another black brother.
  Sad…
  Dana T.
- Wanda Stokes via Facebook
  
  all that darn money !
- Shareefah Wali via Facebook
  
  this so sad!
- georgejansen
  
  Three words…Mutual Funds, nigga’
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