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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

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237 COMMENTS

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| 1 | 2 | 3 | 4 | 5 | 6 | 7 | Most Recent | Next 15 Comments
1.

lmfao    

Imagine spending all that money to train your boy and he can't even beat Phelps.

625 days ago
2.

Rocco    

TMZ, party poopers.

625 days ago
3.

OgMandy    

Like this is any of our right to know!

625 days ago
4.

two cents    

Deadbeats. They haven't made a payment since last year? Who gets to live rent free? People need to stop trying to keep up with the jones' and live within their means.

625 days ago
5.

LDB    

Do what octo-mom is doing and beg strangers for money

625 days ago
6.

Fat Mike    

Why is this on TMZ?

625 days ago
7.

Susan62509    

If Mrs. Lochte filed for a motion to dismiss, then she has a good reason that we don't know about. TMZ should report both sides of a story, not just the negative one.

625 days ago
8.

Rob    

Why is this important for you to spread this all over the net? How would you feel if this were your parents, grandparents or one of your kids? Shameful that you find the need to capitalize on someone else's pain. What goes around comes around and hopefully you experience equal lack of respect.

625 days ago
9.

emma sheehan    


The money that you save by refinancing every month can be sensibly used to repay your unique loan or to upsurge your savings. Do not forget to search online for 123 Refinance they found 3.17% rate for me. They taught me how to refinance smart.

625 days ago
10.

Truth    

WHAT, YOU MEAN IT'S NOT A RAPPER??? OOPS, SORRY... MEANT AFRICAN-AMERICAN RAPPER SINCE THE BLACKS WANT TO BE SO RACIALLY CONSCIOUS, JUST SAYIN. #TRUTH!!

625 days ago
11.

maxscat    

They need advice from Octoslag.She is the expert at squatting in houses and not paying mortgage payments.

625 days ago
12.

Kabala    

The Lochte's didn't answer their phone to speak about their massive financial debt? How dare them. LOL

625 days ago
13.

Jb    

I love TMZ, but how sad u hv 2 cast a shadow over this kid and his family by digging up personal family matters that are undoubtedly difficult and have no bearing on Mr. Lochte's accomplishment. Just b/c info is now avail by internet, etc doesn't make it news OR even gossip. Bad form, TMZ. Very mean spirited.

625 days ago
14.

TMP    

Leave it to TMZ to take the lives of people who aren't celebs and air their private issues on the internet. Come on TMZ... His PARENTS aren't celebs... why even dig around for dirt on them. Show some class.

625 days ago
15.

moxie    

What a painful position to find yourself in.

625 days ago
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | Most Recent | Next 15 Comments

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