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Ryan Lochte

Parents Swimming in Debt, Facing Foreclosure

8/4/2012 6:30 AM PDT BY TMZ STAFF
EXCLUSIVE

0803_ryan_steve_ike_lochte
US Olympic swimming champion Ryan Lochte might have to parlay his newfound fame into a quick payday to help out the folks ... because TMZ has learned, his parents are allegedly buried in debt ... and could lose their home. 

According to a lawsuit filed in Volusia County, FL ... CitiMortgage claims Steven and Ileane Lochte took out a mortgage loan for $258,000 back in 2007 and they were to pay $1,609.58/month.

But according to the bank, the Lochtes stopped making payments in February 2011 -- and now owe $242,239 (plus interest) on the home. The bank is suing to foreclose on the house in order to get its money back.

But there's a lot on the line -- according to the lawsuit, if the sale of the Lochtes' home doesn't satisfy the couple's entire debt ... the bank wants the Lochtes to pay the difference.

Mrs. Lochte filed a motion to dismiss the case last month, but a judge has yet to rule.

Attempts to reach the Lochtes were unsuccessful.

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For more sports stories, check out tmzsports.com!
237 COMMENTS

No Avatar
151.

Virginia Beach    

Jesus! I don't know any average American family that isn't in debt! These people are not celebrities. Give them a break.

755 days ago
152.

Melody    

Ryan is fine! Pretty chocolat girls love some
ryan too! I love the story of him the American Sweetheart, having a thing for some sweet
chocolat as in K. Michelle. The media is so
quick to say that K. Michelle is too ghetto for
him, didn't his dad go to jail for lot's of dui's,
and his brother went to prison for a case of
drug dealing! What's more ghetto then that
as an Olympic swimmer? And now this story!
Check your mail people! don't rush to judge
and throw out stereotypes!

755 days ago
153.

BUTTERBEANS    

Lochte can now buy his parents a NEW HOME after all those endorsements. That guy is Superfine. (LLL) Ladies Love Lochte........

755 days ago
154.

ms    

Sorry... this is what is going so wrong in America. Everyone is "entitled" to have everything and go for their dream whether they can afford it or not. I have sacrificed for my children but do not expect society to pay for my decisions.

755 days ago
155.

nesia    

So....what part of this is news? They are not asking you to pay it so,....stay out of their business. TMZ needs to be shut down. You concentrate on the ugly stuff....get a life...oh...I forgot...this is it!

755 days ago
156.

Zeus    

They could always pimp out Ryan to make some extra cash. After all a one night stand approved by mom might bring millions of dollars.

755 days ago
157.

Tracker    

test

754 days ago
158.

P Love    

TMZ. I stand corrected you aren't just hating on Gabby. You still need to mind your own business. This family has enough to deal with without you putting their damn finances in public for the world to see.

754 days ago
159.

MsSuburbia    

You're located in Southern California, TMZ! You all drive by foreclosed properties every day, in every neighborhood. Every one of you who owns real property (maybe it's not many) experienced >50% depreciation. I'd be willing to bet that some of you even experienced foreclosure, debt forgiveness, or short sale. This is intrusive, pretentious, and demeaning. NOT NEWS, A-holes!

754 days ago
160.

Mandy    

Wow TMZ. You've hit a new low reporting on the financial problems of Olympians' parents.

754 days ago
161.

MIGHTY WRIGHT    

instead of that diamond grill you should help the fanily pay bills

754 days ago
162.

Larry    

TMZ SUCKS,,,, This is Personal Business, Between Them an The People who Loaned them Money,, Not Mine ,,Not Your's,, , The reporters who Use People's misfortune To Make Money off of There Problems is A Total waste of Human Breath,, God May Love Ya,,, But I think Your all *******S.

754 days ago
163.

Larry    

It's None of Our Business,, TMZ,, SUCKS

754 days ago
164.

Jason    

I'm certain both parents were instrumental in getting Ryan to this success. That being said, if they divorced and cannot settle their own financial situation, I don't think it would be a good decision for Ryan to throw his hard earned wage day advances into that pool. It would be sad if his parents depended on his success to keep them afloat; they got into that pickle and all their son owes them is gratitude and (hopefully) love. P.S. mom-your comments are not helping your son's image, which by the way, might be instrumental toward his future endorsements.

753 days ago
165.

James    

My heart goes out to them. They faced the same bull**** as so many people in America. I hope their troubles are over.

751 days ago
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