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Another Iverson Home in Foreclosure, Judge Orders Him to See a Psychiatrist

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Allen Iverson is finding that life after basketball might not be so good.  Mistakes of the past are catching up with him, and outside observers are wondering if he can or will ever get it together.

The player has had trouble with his marriage coming to an end, reported issues with substance abuse, and serious financial problems.  This came to a head this week, as  TMZ is reporting that Iverson’s mansion has now been sold at auction after he was no longer able to pay the bills:

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.

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

This is the second large home that Iverson has allowed to go into foreclosure.  In 2011, his home in Cherry Hills, Colorado also went under when Iverson stopped paying the mortgage.   Iverson has been reported to be as good as broke, in spite of earning $154 million in salary over the course of his life as an NBA player. 

Last year, a judge in Georgia garnished Iverson’s wages to deal with a massive jewelry bill.   This led him to play basketball in Puerto Rico and even sign a contract play indoor soccer in Rochester, NY.   But Iverson may not be entirely broke.  He allegedly has a few million dollars in a trust that he can’t access until he’s 55-years old.  So, maybe things aren’t so horrible for him after all.

But making financial matters more confusing, Iverson just signed a $3 million divorce settlement with his ex-wife, Tawanna.  He was also blasted by the judge for allegedly being a bad father.

TMZ.com reported that the [Atlanta family court] judge, who was not named by the website, blasted Iverson, who was married to Tawanna for 11 years. The couple have five children together.

The website, citing the couple’s final divorce [decree], reported that the judge wrote, “[Iverson] does not know how to manage the children; has little interest in learning to manage the children and has actually, at times, been a hindrance to their spiritual and emotional growth and development.

“For example, 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.

“He has left the children alone without supervision. He has left his young daughters in a hotel room with men who are unknown to the mother.”

According to TMZ, the judge ordered Allen Iverson to see a psychiatrist, and to attend Alcoholics Anonymous meetings for a year.

The website also reported that the judge awarded Tawanna custody of the children and that Allen can visit them under certain conditions.

Among them, according to the report, is that he can’t drink alcohol within 24 hours of visiting.

 


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