A.I. originally purchased the home in 2010 for $4.5 million but according to records failed to make payments and currently owes $1.2 million. However, TMZ has learned Iverson “quickly filed a lawsuit against the lender that’s trying to take the home, claiming he never consented to the loan.”
Iverson currently plays in the professional Chinese basketball league.
Iverson claims his estranged wife — with whom he’s going through a nasty divorce — signed for the mortgage in order to screw him … by agreeing to financial terms he couldn’t meet. The lawsuit has since put a hold on the foreclosure proceedings … buying Iverson some extra time.
Calls to Iverson’s camp and the lender he’s suing have not been returned.