Allen Iverson has lost his Georgia mansion to foreclosure, Bossip reports, marking the second home he’s lost in five years and the third since 2011.
According to the website, Wells Fargo sued Iverson to foreclose on his Alpharetta, Ga. mansion last year, claiming he missed payments on his $1.7 million mortgage and went into default.
The bank says it gave Iverson a month to clear the debt, but he was unable to make the payments.
Iverson purchased the seven bedroom, eight bathroom home for $2,190,000 in 2006, which boasts a two story living room, a media room and a pool area.
Located in the high-status “Country Club of the South” development, the house was sold at auction late last year, where the bank nabbed it for $1.5 million, according to public records. After an Atlanta judge finalized the foreclosure order last month, the property is now on the market for $1.1 million, according to Zillow.
In 2013, Iverson lost his then Atlanta-area home to foreclosure after he’d purchased it in 2009 for $4.5 million, according to the Atlanta Journal Constitution. In 2011, he lost a $3.8 million home in Colorado, during his stint with the Denver Nuggets.
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(AP Photo/Rich Schultz)