Former 76ers star Allen Iverson has lost his $4.5 million Atlanta mansion to foreclosure, according to TMZ.
The gossip website says Iverson allegedly defaulted on a $1.2 million mortgage and tried to prevent an auction but failed.
Iverson sold his six-bedroom Gladwyne mansion for $2.6 million in 2010. The Denver Post reported in 2011 that his Colorado home went into foreclosure after he stopped paying the mortgage while owing well over $2 million.
The 38-year-old Iverson, who last week declined an offer from the D-League Texas Legends, reportedly has a trust fund worth $32 million that he is prohibited from touching until he turns 55 and draws a $1 million yearly stipend. He just finished a messy divorce with his ex-wife Tawanna last month, reportedly agreeing to a $3 million settlement.