Former NBA player Allen Iverson filed a lawsuit to stop foreclosure proceedings of his $4.5 million Atlanta home that was scheduled to go up for auction this month, TMZ reported.  

Iverson's home was to go up for auction on Dec. 4 after the 37-year-old allegedly defaulted on his $1.2 million mortgage. But before his home could be sold, he filed a lawsuit against the lender trying to take the home, claiming that he never consented to the loan, according to the report. He purchased the home in 2010. 

The 11-time NBA All-Star claimed his ex-wife, who he is in the midst of divorce proceedings with, might have been involved in the case as well.

"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 website noted.

His lawsuit has since put a hold on his Atlanta home's foreclosure, but reports continue to circulate about Iverson's debt and how he is reportedly "broke."

The Examiner cited a report that said Iverson earns about $60,000 a month but that he is spending about $350,000 per month - most of it on back mortgage payments and bills. He also reportedly spends around $10,000 a month each on clothing and groceries, $1,000 on dry cleaning, and $5,000 each on entertainment and restaurants.

On the other hand, court documents from Iverson's divorce proceedings give slightly different figures. 

"Though he still earns $750,000 per year, Iverson is bleeding an  estimated $360,000 each month," according to Business Insider. "About a third of his debt is owed to creditors -- his bank account was seized last year when he couldn't come up with $860,000 he owed to a jeweler -- and another chunk goes to his mortgages."

Iverson plays in the professional Chinese basketball league. 

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