​Iverson Fights Foreclosure Blames Wife For Payment Lapse

Author: Rob AdamsBy:
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December 10, 2012
Also: Allen Iverson, Iverson Fights Foreclosure, NBA

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Former NBA star Allen Iverson is fighting to get back into basketball as well as keeping his multi-million dollar home from foreclosure, blaming his soon to be ex-wife for the lapse in payments.

Iverson’s $4.5 million Atlanta mansion had gone into foreclosure and was scheduled to go up for auction on December 4th. However, Iverson filed paperwork to hold the auction off for now, giving him the time and a chance to save the home.

Iverson had filed a lawsuit against the mortgage company that said he was in default for a $1.2 million mortgage. Iverson claims he never agreed to the loan, and that it was his wife, Tawanna, who signed the documents knowing that Allen could not afford the term’s and was a part of a revenge plot against him.

Tawanna and Allen were, high school sweethearts and married in August of 2001, and together they have 5 children. However, the marriage recently soured and the two have been embroiled in a bitter and nasty divorce.

Since last playing in the NBA, after returning to his original team the Philadephia 76’ers in 2010, Iverson has had several legal issues and has fallen on financial hard times.

In November 2010, Kate Fagan, a 76ers beat writer for the Inquirer reported that Iverson was “broke” and heavily in debt, “by all accounts except his own”, and that a member of Iverson’s family had previously contacted NBA teams about a contract for him, as he would not be able to pay that person without a contract.

Allen Iverson was rated the fifth greatest NBA shooting guard of all time by ESPN in 2008.