Wells Fargo has sued Allen Iverson to foreclose on his Alpharetta, Ga. mansion last year, claiming he missed payments on his $1.7 million mortgage and went into default.
The bank says it gave Iverson a month to clear the debt, but he was unable to make the payments.
Iverson purchased the seven bedroom, eight bathroom home for $2,190,000 in 2006, which boasts a two story living room, a media room and a pool area.
Located in the high-status “Country Club of the South” development, the house was sold at auction late last year, where the bank nabbed it for $1.5 million, according to public records. After an Atlanta judge finalized the foreclosure order last month, the property is now on the market for $1.1 million, according to Zillow.
In 2013, Iverson lost his then Atlanta-area home to foreclosure after he’d purchased it in 2009 for $4.5 million, according to the Atlanta Journal Constitution. In 2011, he lost a $3.8 million home in Colorado, during his stint with the Denver Nuggets.