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Allen Iverson Foreclosure: See the $2.8 Million Atlanta Home Ex-NBA Star Lost 

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Old 02-08-2013, 04:57 PM
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Allen Iverson Foreclosure: See the $2.8 Million Atlanta Home Ex-NBA Star Lost

Former NBA star Allen Iverson isn't having a good week. First, a judge skewered him Tuesday for bad parenting skills, and now he's lost his giant Atlanta mansion to foreclosure. Iverson's nearly 10,000-square-foot home on Atlanta's exclusive West Paces Ferry Road had been on the market for $2.5 million, but it was sold at auction Tuesday back to Georgia Primary Bank, the Atlanta Journal-Constitution reported. Iverson built the home for $4.5 million in 2009 and lived there with his wife and five kids, but he and his wife recently divorced. A current listing on the house shows the asking price at $2.8 million.

This isn't the first time Iverson has lost a home to foreclosure. Back in 2011, when he was playing for the Denver Nuggets, Iverson also lost a $3.875 million Cherry Hills, Colo., mansion to foreclosure after defaulting on the mortgage, according to the Denver Post. Luckily, a buyer had entered into contract to buy the home before Iverson defaulted, the Post said.

Iverson's Atlanta home is quite the luxury estate, one you wouldn't expect to see on the auction block. The listing calls it "one of, if not the finest, private gated estates ever to become available in Atlanta." Iverson had sunk $4.5 million into building it with a custom bar, gourmet kitchen, master suite with "spa-like" bath and luxury accents such as copper gutters.

It's really not that impressive a place for one of the NBA's top 20 career scorers and former MVP, considering Iverson has earned over $145 MILLION during his NBA career...maybe 'The Answer' shoulda been watching his money a bit better and not spending on bling...

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Old 02-08-2013, 06:43 PM
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Re: Allen Iverson Foreclosure: See the $2.8 Million Atlanta Home Ex-NBA Star Lost

He is ghetto at heart. He somehow blew a 100 million dollars
Now he is too old to play and wont be paid as much. back to mcdonalds for him

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Old 02-08-2013, 07:49 PM
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Re: Allen Iverson Foreclosure: See the $2.8 Million Atlanta Home Ex-NBA Star Lost

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Originally Posted by mengala View Post
He is ghetto at heart. He somehow blew a 100 million dollars
Now he is too old to play and wont be paid as much. back to mcdonalds for him
At times you are smart but most times, your hate consumes and dictates every part of you.

Tell me, what does being ghetto have to do with making poor financial decisions, because last time I checked this whole country is in unprecedented finial trouble, in fact, I believe the economy actually collapsed in 2008 and only precariously hangs in the balance because of the massive spending Obama is doing. Once he stops, we're truly f*cked.


Difference between black and (some) white bloggers on DR: Any negative news having to do with blacks will be attributed solely to race. When its horrific and white, there's always an uncanny silence when yet another spree shooter's identity is revealed. We're talking about the worst of the worst here but still no racism from blacks. Why

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Old 02-08-2013, 08:47 PM
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Re: Allen Iverson Foreclosure: See the $2.8 Million Atlanta Home Ex-NBA Star Lost

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Originally Posted by AmericanIllusions View Post

Difference between black and (some) white bloggers on DR: Any negative news having to do with blacks will be attributed solely to race. When its horrific and white, there's always an uncanny silence when yet another spree shooter's identity is revealed. We're talking about the worst of the worst here but still no racism from blacks. Why
cuz they know some whiny-assed shit will soon be coming from the butthurt...Iverson was about as ghetto as it gets in the NBA and THAT's likely the root of why he blew through $145 million...too bad we're not talkin' 'bout PRACTICE, huh AI?

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Old 02-08-2013, 09:12 PM
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Re: Allen Iverson Foreclosure: See the $2.8 Million Atlanta Home Ex-NBA Star Lost

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cuz they know some whiny-assed shit will soon be coming from the butthurt...Iverson was about as ghetto as it gets in the NBA and THAT's likely the root of why he blew through $145 million...too bad we're not talkin' 'bout PRACTICE, huh AI?
Did you ever consider the guy let the damn house go seeing that he doesn't need it because he's separated? In this shit economy I would dump a mortgage like that too if I could get a bigger bang for my buck. And FYI Iverson aint broke, at all. He has an account with a $50 million principle that he can't touch until he's 55. Seems someone around him was smart.

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Old 02-08-2013, 09:48 PM
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Re: Allen Iverson Foreclosure: See the $2.8 Million Atlanta Home Ex-NBA Star Lost

Just proves you cant buy class.

Nice place though, that marble bathroom is deadly though. That shit gets a bit of wet on it and you;re gonna slip.

All the hoes he'd bring round for some TLC might sue him.

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Old 02-08-2013, 10:54 PM
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Re: Allen Iverson Foreclosure: See the $2.8 Million Atlanta Home Ex-NBA Star Lost

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Did you ever consider the guy let the damn house go seeing that he doesn't need it because he's separated? In this shit economy I would dump a mortgage like that too if I could get a bigger bang for my buck. And FYI Iverson aint broke, at all. He has an account with a $50 million principle that he can't touch until he's 55. Seems someone around him was smart.
LOL, riiiight, he didn't need it...gots kids to support but he didn't need it...couldn't pay $70,000 for the bling he tried to fuck a jeweler out of, but he didn't need it...please...this clown will likely be DEAD or in jail before he turns 55. And that $50 million, I got news for ya, his KIDS will be first in line to get PAID before he can blow it on more tats...someone around him was smart? I'm sure, just too bad it wasn't him...just ig'nant.

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Old 02-09-2013, 01:01 AM
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Re: Allen Iverson Foreclosure: See the $2.8 Million Atlanta Home Ex-NBA Star Lost

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Originally Posted by AmericanIllusions View Post
Did you ever consider the guy let the damn house go seeing that he doesn't need it because he's separated? In this shit economy I would dump a mortgage like that too if I could get a bigger bang for my buck. And FYI Iverson aint broke, at all. He has an account with a $50 million principle that he can't touch until he's 55. Seems someone around him was smart.
You sound like you're mad brah.

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Old 02-14-2013, 06:38 PM
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Re: Allen Iverson Foreclosure: See the $2.8 Million Atlanta Home Ex-NBA Star Lost

You know the old saying .. a fool and his money are soon parted !

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Old 02-15-2013, 12:23 AM
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Re: Allen Iverson Foreclosure: See the $2.8 Million Atlanta Home Ex-NBA Star Lost

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Originally Posted by AmericanIllusions View Post
Did you ever consider the guy let the damn house go seeing that he doesn't need it because he's separated? In this shit economy I would dump a mortgage like that too if I could get a bigger bang for my buck. And FYI Iverson aint broke, at all. He has an account with a $50 million principle that he can't touch until he's 55. Seems someone around him was smart.
There is no way he will have $50,000,000 when he turns 55. He only earned about $200,000,000 during his career from salary and endorsements. If you subtract income tax it only leaves about $110,000,000 and Iverson was notorious for buying expensive cars/houses/jewelry and gambling hundreds of thousands and even over a million per night on a few occasions in atlantic city/detroit casinos.

He probably also gave a lot of money to friends/family who leached onto him after he became famous. You have to consider the 4-10% fees sports agents charge and he got divorced (which his ex wife reportedly only received $3,000,000 and she would be entitled to half his money based on the length of the marriage) and child support for 5 kids will certainly bleed him dry. All things considered, I doubt his net worth is even $3,000,000 and more than likely he is very close to being flat broke. He signed a deal a few years ago to play in turkey for $2,000,000 per year, which there's no way he would've done if he had millions in the bank.

As far as "dumping his mortgage" it's more like destroying his credit.

In January 2013 a Judge in Georgia ordered Iverson's wages to be garnished to repay a $325,000 jewelry debt. The amount he has to repay is over $800,000 though, since interest/court costs/attorneys fees were added.

It's pretty obvious the guy is broke.

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