Allen Iverson Loses Atlanta Mansion In Foreclosure 2/6/2013

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Allen Iverson is officially mansionless — TMZ has learned the former NBA star’s Atlanta home has been sold off in a foreclosure auction.

TMZ broke the story … Iverson allegedly defaulted on a $1.2 million mortgage which sent the $4.5 million home into foreclosure. He briefly fought off an auction … but ultimately, he couldn’t stop it, maybe too much bet on march madness?

Sources close to the sale tell TMZ … Iverson’s bank purchased the mansion yesterday for $2.5 million.

It’s been a rough week for Iverson — on top of losing his mansion, the judge in Iverson’s divorce case basically just called him the worst dad in the universe.