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

No Avatar
91.

Who Knew    

For putting his "story" up. TMZ=Low down dirty dog.

720 days ago
92.

Maybe    

Maybe he can sell his four $25,000+ "grills" to help his parents keep their home?????

720 days ago
93.

Paul    

TMZ is really turning to sh!t. Why do they do a story about a family in financial trouble? Why did they do this to the family? TMZ is killing itself when they do stories like this and that nutcase called Octomom.

720 days ago
94.

Gigi    

It is really low class, even for TMZ, to be talking about their private financial matters.

720 days ago
95.

Brian Chapman    

You have no class TMZ.
Ryan Lochte and other celebrities are public figures and are fair game when it comes to having everything in their prrivate lives made public. With that said Lochte's parents are not public figures and you have no right to make their financial struggles public. You are invading their privacy and causing them great embarrassment for no reason. I wish some news agency would follow Harvey and his boy toy around town all day long. I would be willing to bet that he would not enjoy that too much,.

720 days ago
96.

A1A    

This is none of the media's business. These people are not public personalities. If TMZ had the balls, which of course Harvey does not, they would publish the financial problems of Harvey's employees, because Harvey's staff is at least on TV all the time, and TMZ employees are much more public than these parents are. But, TMZ is like all the media, they twist and filter the news to fit their agenda.

720 days ago
97.

maria    

Always keeping in classy TMZ. This family right now is flying sky high because of their son winning gold, but leave it up to you to bring them down to their knees by this article and shaming them, when this is the time they should be celebrating.

720 days ago
98.

Bambi    

I saw their son on a CNN show and he was saying he was wearing 50k worth of jewelry, funny, mo money mo problems.

720 days ago
99.

Lmao    

Wow, trying to embarrass someone's who's won 5 Olympic medals for the U.S.. Shame on you, TMZ!

720 days ago
100.

Gator    

Looks like Lotche will be Promoting another bank

Can you image the comments that can be said now

720 days ago
101.

Rosemary    

Why embarrass Lochte and his parents? He is bringing a gold medal home and this is how TMZ treats him and his family?

720 days ago
102.

Truth    

TMZ as classy as usual.

720 days ago
103.

misskittie    

Ryan Lochte will have to pay taxes on those medals he won I believe up to 35K per medal. He has 5 medals so far in 2012 and would be looking at paying up to $175K. Keep in mind he has sponsorships who help finance him and they probably paid for his parent's expenses to come to London. All said and done, I'm proud of Ryan's accomplishments in his sport and I hope he will help his parents out in their situation.

720 days ago
104.

peoplearesilly    

So what? Their problem and none of our business. What -- next they will be setting up a website to collect money? I can see it coming. How about downsize and leave within your means? This country is going to hell because everyone lives on credit. WHEN WILL PEOPLE GET IT and stop doing it?

720 days ago
105.

Mikey    

The guy admitted to peeing in the pool during the Olympic games. I'm sure as hell not buying any products he endorses. - Hey drink this gatorade, i might have peed in it.

720 days ago
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