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Allen Iverson loses his Atlanta mansion in a foreclosure auction.
The basketball star defaults on a $1.2 million mortgage that sent the $4.5 million mansion into a foreclosure auction, TMZ reported.
He fought for the mansion, but he lost it eventually.
A close source linked to him said that Iverson's bank purchased the property yesterday for $2.5 million.
It has not been a good beginning of the year for Iverson.
After an agreed divorce settlement with his wife Tawanna, he was called the worst father ever by an Atlanta family court judge, The Daily Mail reported.
The judge wrote that Iverson did not care about his children, and he had a serious alcohol problem.
"He has refused to attend to an obvious and serious alcohol problem, which has caused him to do inappropriate things in the presence of the children while impaired," said the judge.
The judge also said that Iverson had continuously left his children alone without supervision, sometimes even leaving his daughters alone in rooms with men Tawanna did not even know about.