It's been a slow and painful decline for Allen Iverson, the eleven-time NBA All-Star and number one pick in the 1996 NBA draft. The point guard who once ran circles around his opponents as a Philadelphia 76er from 1996 to 2001 is in foreclosure on his Denver area mansion after he quit paying the mortgage on the 6,848 square foot home.
Allen Iverson's Denver Home in Foreclosure
By Erin Lem
Friday, Apr 27, 2012 Updated at 1:48 PM PDT
The Denver Post reports that the once unbeatable Iverson has been recently plagued with personal setbacks and now, real estate problems. A buyer is reportedly close to purchasing Iverson's estate for close to the current asking price of $2.85 million. The pending sale allegedly went into contract before the former Denver Nugget defaulted on his loan. Even if the sale goes through, Iverson will still be saddled with the attorney fees, foreclosure costs, and default interest.
Iverson's former Colorado lake front abode is a six bedroom, six bathroom spread that is equipped with a comprehensive security system, safe room, media room, wine room, and seven gas fireplaces.