Allen Iverson Facing Foreclosure

The basketball star suffers more financial turmoil and is in threat of losing his home.

Posted: 03/07/2011 10:55 AM EST
Allen Iverson

The sad state of affairs for former NBA star Allen Iverson just gets even sadder.  Already long rumored to be facing money woes comes a new report that his Denver-area home is slipping into foreclosure.

The Denver Post reports that Iverson has stopped paying the mortgage on the 6,848-square-foot six-bedroom, nine-bathroom spread he purchased in January 2008 for over three million dollars.

The home was actually placed on the market recently and is expected to close on April 8. However, because he owes a balance of $2,572, 914 to Wells Fargo Bank on the mortgage, trouble, trouble still awaits his credit score.

Should the sale go through, Iverson will still have to pay attorney fees, foreclosure cost and default interest – all things someone without a job probably can’t afford.

Can someone get him a reality show already? Or some new legs? I’d say a rap contract, but I remember that one single he had. Yeah, that won’t work so let’s shoot for something else. Anything really.

I hate to see this dude go out like this.

Source

 

Image:  Streeter Lecka/Getty Images

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