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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.

0803_lochte_home

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

No Avatar
31.

J Sampson    

Oh my Lord! Tell Ryan to SELL HIS GRILL!!!

726 days ago
32.

Hank Wanky    

Yeah, the bank lent them the money. But their son is a great Olympic athlete, swimming for his country! Have a little compassion for the moment...

726 days ago
33.

RRR    

TMZ, how dare you put this story out there. Lochte has worked his ass off training and has earned his time in the sun. It seems you just want to bring him down. This is a FAMILY matter and doesn't need to be leaked all over the internet. Oh, and to those comparing Lochte to phelps and saying he sucks... Phelps' accomplishments are fantastic, but not usual. Lochte's record speaks for itself and is pretty amazing as well. Have any of you ever swam? Do you know how grueling their regimen is? Try it sometime before you talk.

726 days ago
34.

StarFleetVeteran    

Hm. Maybe he should be helping his parents out instead of buying $15k to $25k diamond grills that make him look like a total douchewad.

726 days ago
35.

BellaJ    

What a crappy story for you to print TMZ! This family is only in the limelight because their son is doing an amazing job representing our country at the Olympics (winning gold i might add!) They didn't expect you to be going through their personal financial information, even if some of it is public records. Please respect their privacy and keep good thoughts and prayers for this family and for so many other hard working Americans who are about to lose their homes! This is a very tough time in our economy and I truly
hope things turn around soon here for Americans. <3

726 days ago
36.

dreamon    

You stink TMZ. They're not celebrities and this is not an entertainment story.

726 days ago
37.

imack    

Made me sick to hear him on CNN last night talking about how he walks around with at least 35K of jewelry on when so many people are suffering financially.

726 days ago
38.

srsly    

**** you, these people aren't celebrities. have some decency.

726 days ago
39.

Versability    

Remember the term Force-Placed Insurance. It is the leading cause of foreclosures since 1994, and it's not just mortgage insurance. This happens for Auto, Commercial, Boat, RV, Motorcycle, and other collateral loans. The artificially and illegally inflated premiums have been proven to create a negative escrow account, which leads to doubled mortgage payments, blocked property tax payments, and denied loan modifications.

Read my firsthand account as a bank whistleblower exposing the largest banking fraud in history:
http://thoughtforyourpenny.blogspot.com/2012/07/the-boy-who-cried-force-placed.html

726 days ago
40.

Kurt     

Okay TMZ & Especially Harvey.. Please people, what else should you expect from a Man (Harvey) whose relatives chose to save a murderer than save the Son of God only to save themselves from the wrath of King Herod and Caesar. Wow Harvey, Great relatives you have. Shame on you and the entire TMZ staff for being part of the machine that Builds up and makes stars, only to tear them down....

726 days ago
41.

Rae    

Oh the sacrifices parents make to help their child achieve their dreams. Then they, too, felt the recession. The Locke family is an American family living with the American economy. Big deal!

726 days ago
42.

TVDIVA    

I hope now that he has won Olympic gold he gets some endorsements to save their family home and get them out of debt. But if he keeps saying things like "I peed in the Olympic pool during warm ups" and his mother keeps telling people he does one night stands, there may not be any endorsements.

726 days ago
43.

Kash511    

PLEASE PLEASE tell me WHY this "story" is being posted! You mean to tell me that this man has GREAT talent competes & goes to the Olympics wins gold & it's cool to fish through court do***ents to get dirt on his family??! Y'all ain't ****. Then wanna say "calls weren't returned." oh his parents applied for a TMZ credit card?? You guys are the bill collectors!? Oh ok gossip & and loans. GOOD JOB GUYS!

726 days ago
44.

IMO    

TMZ, you have gone to a new low. What the hell did you post this for!! They are celebrating their son's success, of which I'm sure they sacrificed everything for him. Can they have their moment before you NOSEY some of bi$#!^ blurt all their personal business like this! You are complete trash for this..

726 days ago
45.

Ann    

Hey Ryan, tell your buddy Phelps to get his fangs clipped.

726 days ago
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