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Ryan Lochte

Parents Swimming in Debt, Facing Foreclosure

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

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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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237 COMMENTS

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Previous 15 Comments | 6 | 7 | 8 | 9 | 10 | 11 | 12
166.

Ikey DIkey    

Nice that you added Steve to the photo when he wasn't there! The PARENTS have been divorced for two yrs and part of a divorce settlement the truth is they are not in debt because of Ryan but because of one of their other children --Brandon is adopted thru the mother only to live vicariously thru the Lochte name just like his mother

803 days ago
167.

Roger Feigenbaum    

I am fighting like a mad dog to keep my house,.I have called into work sick ONCE in my life.I am trying to work with bank but is hard.But I never took a 2nd mortgage out and got 200,000 bucks.One guy said live within means,Right on.Also Shevonne is super cut.They should dress her like a schoolgirl with knee socks and cute skirt.

787 days ago
168.

new benefits    

I would definitely helped my parents if they were in such a situation. But still they should have been more more careful with their mortage. You have to pay for everything, that is why it is completely their mistake for simply skiping payments without trying to figure out what to do. Maybe bank could have offered something. When you get money loan in advance , you need to always remember to pay them back , unless you want to get into trouble

770 days ago
169.

Emily    

Losing a house is just awful. Really, I do not understand why people do not make payments on their loans, what they are waiting for? That someone will come and pay off their loan? Foreclosure is a consequence of irresponsible financial behavior. When you take out a loan or one hour payday loan, you should understand that it’s a commitment and it will be necessary to pay back. Ryan Lochte could help his parents, probably he knows that his parents should make payments on their home loan. I just can’t imagine how is it possible to live in a house and do not make any payments, isn’t it clear that one day it will be necessary to pay back the debt or to leave your home?

650 days ago
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