What would we do without TMZ? If they weren't around ... we wouldn't know about Allen Iverson's apparently serious drinking problem ... his allegedly awful parenting ... and now that his Atlanta home has been foreclosed on.
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.
Sources close to the sale tell TMZ ... Iverson's bank purchased the mansion yesterday for $2.5 million.
What's a $2 million loss to a guy too good for a D-League comeback attempt?
TMZ has a photo gallery of the home ... but I don't know ... it doesn't look like ... a home ... Allen Iverson would want ... to live in ... anyway ...