Former basketball star Allen Iverson lost his house out of foreclosure after his bank bought the Atlanta mansion for half of it's original value.

Iverson's six-bedroom home was bought by the bank for $2.5million which comes as a major lose to the athlete since he originally purchased it for $4.5million in 2009.

He and his ex-wife made some major renovations to the home, including how he turned one of the bedrooms into a massive walk-in closet.

Foreclosed: The home that Iverson bought in 2009 for $4.5million was just bought by his bank for $2.5million

Foreclosed: The home that Iverson bought in 2009 for $4.5million was just bought by his bank for $2.5million

 

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Bad month: The foreclosure comes just days after a judge branded former Philadelphia 76er great Allen Iverson as a 'bad parent' in his divorce decree

unusual: The pool in the mansion's backyard is filled with saltwater

unusual: The pool in the mansion's backyard is filled with saltwater

'There were some areas in the closet that could house up to 100 pairs of tennis shoes. It is absolutely incredible. Over-the-top,' realtor Troy Stowe told WSBTV.

According to TMZ, the bank bought the house two months after Iverson defaulted on his $1.2million mortgage and even though he initially wanted to put it up for auction, the bank bought the home on Thursday.

The mansion, located in a gated community in Atlanta, is over 10,000-square-feet and has six full baths.

 

Along with the bedroom-sized closet, the other unusual feature is a saltwater pool in the backyard.

Yahoo Sports reports that this is not the first- and not even the second- of Iverson's home to fall to foreclosure.

The same thing happened to the six-bedroom mansion he used to own in Colorado while playing for the Nuggets basketball team, and again to the six-bedroom home he had outside of Philadelphia where he lived while playing on the 76ers.

Former home: The basketball star bought the house with his wife before they divorced

Former home: The basketball star bought the house with his wife before they divorced

 

Luxury: The home features a number of fireplaces and chandeliers

Luxury: The home features a number of fireplaces and chandeliers

The latest foreclosure comes on top of a recent spat of bad news as he was called a terrible parent by a judge during divorce proceedings.

According to TMZ, the so-called ‘King of Bling’ was slammed by his judge, who said in his final divorce decree that Iverson has been ‘a hindrance to their spiritual and emotional growth and development.’

Iverson has five children with his ex-wife, Tawanna, who was his high school sweetheart.

‘He has refused to attend to an obvious and serious alcohol problem,’ the judge writes, ‘which has caused him to do inappropriate things in the presence of the children while impaired.’

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Nuptials: Iverson married Tawanna in 2001; the two were high school sweethearts

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Bad parent? Iverson, right, seen kissing his daughter Tiaura, center, in 2001, was branded a bad parent by the judge

The judge continued that Iverson had continually left his children alone, and without supervision, sometimes leaving his daughters alone in rooms with strange men.

The judge awarded custody to his ex-wife, Tawanna. However, he allowed Iverson visitation rights if the former NBA star adhered to his rulings, including remaining sober for the next 18 months.

In addition, he is banned from drinking alcohol within 24 hours of visiting his children, until they are 18.

And Iverson must also attend Alcoholics Anonymous meetings for a year

'I realize my actions contributed to my early departure from the NBA,' the 37-year-old Iverson said recently while explaining his decision not to return to basketball in the Dallas Maverick's development league.