Saturday, May 23, 2015

Allen Iverson losing his mansion: report

Ex-Sixers star Allen Iverson is losing his Rocky Mountain mansion

Allen Iverson losing his mansion: report

Allen Iverson, the ex-Sixer and NBA MVP and All-Star has stopped making payments on his 6,848-square-foot house in the Denver suburb of Cherry Hills, the Denver Post reports here.

"Iverson, 35, who purchased the property in 2008 for $3.88 million, let the six-bedroom, nine-bathroom home slip into foreclosure and owes more than $2.5 million to Wells Fargo Bank, the Post reported, citing a Notice of Election and Demand for Sale filed in Colorado’s Arapahoe County on Feb. 28," says Bloomberg here.

"The house was for sale and scheduled to close for about the asking price of $2.85 million, according to the newspaper."

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About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano