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Ryan Lochte

Parents Swimming in Debt, Facing Foreclosure

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

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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Actually there are plenty of people who just stop paying because they don't feel they should have to pay based on what their house WAS worth, now that it's only worth a fraction of that now. I live in a wealthy area and there are thousands of very rich people willingly going into foreclosure because they just can't be bothered to deal with a short sale, and they live there rent free until the bank finally steps in, knowing that the banks pretty much never go after them for the shortfall. They can probably afford to buy their next house in cash when they have to, or expect their son to do it for them, instead of doing the right thing and honoring the debt they agreed to in 2007. Don't feel sorry for them, they could have made payments of even $50 but they chose not to.

809 days ago


***Big Shocker They Raised a Hoe*****

Are you suprised by this, this is the same family that is okay with their son sleeping around. It's pretty sad when parents are okay with their kids deviant lifestyle. Excuse me Mrs. Lockte, you stated your son only has time for one night stand, then quickly back peddle after you stated getting some grief about it. What has become of this country when parents parade their children digusting deviant lifestyle of TV, and are proud of it. I sure hope you son doesn't get AIDS, since he's playing russian rouletter with his life. Those one night stand girls better make sure he double up on condoms, you never know what kinds of bacterias are floating inside that penis.Good luck to him, he can keep leading his disgusting deviant lifestyle, but don't shove it in my face, he is not a role model. He is just like Phelp, I bet both of them are hitting the joint together.For his parents doesn't pay their morgage, they want to live in a luxury apartment for free. Shame on his mom for approving his lifestyle!

809 days ago


OK TMZ....where the eff is Harvey, with this story TMZ has stooped to a new low. Why humiliate these people?? Shame on you this time TMZ...I get going after movie-stars and such, they deserve it, but not these people.....things are tough everywhere. TMZ post about how you live in a state that going bankrupt.....who's laughing now. Broke state: CALIFORNIA....your city will stink when the city workers refuse to pick up your trash..LOLLLLLL

809 days ago


Maybe they can talk with Debbie Phelps about how to profit off your kid

809 days ago


WTF TMZ? This is low even for you guys. Why would you report this when this kid is in London swimming for our country. More and more TMZ is turning into POS. TMZ used to make the news and gossip fun, crap like this takes the fun out of it.

809 days ago


In the past few days we have learned about Phelps taking a loss on his Real Estate and now this info. Is your staff combing all the records of he Olympic team and their families? I have no idea what this families situation is and frankly I do not care. Living in FL though the housing market here has taken a beating that even those that did not speculate are in deep trouble being upside down to a stunning degree. Not defending this family as I do not know the details nor do I care to know.

809 days ago


And the purpose of this story? To embarass someone when they're at the top of their game? How about, it's NO ONE'S BUSINESS, it's a PRIVATE matter, so leave them alone.

809 days ago


well, at least he got his grillz — know they have their priorities straight!

809 days ago


Ryan Lochte has brought glory to our country and this is what you have to report TMZ? Really? Shame on you.

809 days ago


What business is this of TMZ's?

809 days ago


Perhaps their future will be a little brighter now for their sacrifices, the JOB they did supporting their WINNING Gold medalist son, had to be some hard choices to get him to be able to get there.

809 days ago


This little wigger has money for grillz but no money to help his folks.

809 days ago


Is that a Range Rover in the driveway???

809 days ago


"Attempts to reach the Lochtes were unsuccessful."

Yeah thats because theyre in London watching their son in the Olympics !!!!!!!!!!! Tmz just keeps getting worse and more of a ghetto joke every day !!

809 days ago


Why would u guys bother this woman about a foreclosure on her home? Her son is a god damn American hero she doesn't have to answer **** for u pigs shove it up your ****in asses!

809 days ago
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