December 1, 2012
Iverson loses home to foreclosure
|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)
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.