Eleven- time NBA all-star Allen Iverson can officially join Nicholas Cage as one of the few celebrities that has been foreclosed on. I was shocked when I heard about this since Iverson currently has a contract with the Denver nuggets worth almost twenty one million dollars. Clearly, he has the money to afford this home. Why would he stop paying his mortgage payments? This is a question I wish I had a solid answer for. My best guess would probably be poor financial planning, a growing trend among athletes.
The 6,848 square foot Denver mansion has six bedrooms and originally cost $3.875 million. It just sold for about $2.85 million dollars. This decrease is just one example of how much property values have fallen over the last few years.
No comments:
Post a Comment