The thing about property is you better sell it before you get behind because it is hard to come out of that hole.
This is AI’s 3rd mansion the banks have taken from him. Bossip has the details.
Wells Fargo sued the NBA great to foreclose on his Alpharetta, Ga. mansion last year, alleging he failed to make payments on his $1.7 million mortgage and went into default on the palatial spread, according to the bank’s paperwork.
The bank contends that it gave Iverson a month to clear the debt, but he never managed to settle up, court records state.
It’s not the first time Iverson has lost homes to the bank because of not paying. In 2013, another of Iverson’s Atlanta-area homes went into foreclosure after he’d purchased in 2009 for $4.5 million, according to the Atlanta Journal Constitution. And in 2011, Iverson lost a $3.8 million home with a built in spa in Colorado, where he was playing for the Denver Nuggets.
If you have $1.1 million you can buy the mansion yourself now.