Hustle Smarter: Allen Iverson’s Mansion in Foreclosure

According to the Denver Post, former NBA player, Allen Iverson’s mansion is now in foreclosure. 35 year-old-Iverson, who currently plays with Besiktas of the Turkish League, allegedly let his Buell Mansion slip into foreclosure with an outstanding balance with Wells Fargo. The home is 6,848-square-foot with six-bedrooms, nine-bathrooms and was purchased in 2008 for $3.875 million. He allegedly owes $2,572,914, according to a Notice of Election and Demand for Sale filed Feb. 28 in Arapahoe County. Real estate attorney, Alan D. Sweetbaum shared: “I’m surprised that Iverson did that, but the sale can still occur. It’s unusual, and (Iverson) will (likely) end up throwing away $10,000 on attorneys fees alone. He could pay or the buyer could pay the amount that hasn’t been paid to reinstate the loan.”