Iverson loses home to foreclosure

Former NBA player Allen Iverson waves to his fans before signing a contract with Besiktas, his new...

Former NBA player Allen Iverson waves to his fans before signing a contract with Besiktas, his new Turkish basketball team in Istanbul Nov. 9, 2010. (REUTERS/Osman Orsal)

WENN.COM

, Last Updated: 12:53 PM ET

NBA superstar Allen Iverson is set to lose his home after defaulting on his mortgage.

The sportsman's $4.5 million mansion in Atlanta, Georgia will go up for auction this month after bank bosses foreclosed on the property.

The house and its contents will be auctioned off on December 4 if Iverson fails to reach a deal to save the property, according to TMZ.com.

Iverson has reportedly suffered money problems in recent years and is currently going through a divorce battle with his estranged wife, Tawanna.


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