Allen Iverson Losing His Mansion

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Allen Iverson, the ex-Sixer and NBA MVP and All-Star has stopped making payments on his 6,848-square-foot house in the Denver suburb of Cherry Hills, the Denver Post reports here.

“Iverson, 35, who purchased the property in 2008 for $3.88 million, let the six-bedroom, nine-bathroom home slip into foreclosure and owes more than $2.5 million to Wells Fargo Bank, the Post reported, citing a Notice of Election and Demand for Sale filed in Colorado’s Arapahoe County on Feb. 28,” says Bloomberg here.

“The house was for sale and scheduled to close for about the asking price of $2.85 million, according to the newspaper.”

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