Ryan Lochte's Parents House in Foreclosure | Robert Littal Presents BlackSportsOnline

Ryan Lochte’s Parents House in Foreclosure

by Robert Littal | Posted on Saturday, August 4th, 2012

What a lot of people don’t know is it is very expensive financing an Olympic dream. There are also a lot of restrictions placed on how much money they can make without losing their amateur status.

So, while this will be shocking to some, it shouldn’t be.

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.

Lochte is now a superstar now, so he will be able to parlay a lot of money out of these Olympics, but will need to do it soon if his parents want to keep their home.

Tags
About the Author

Founder of BlackSportsOnline and BonaFide Media. @BlackSportsOnline. Email Robert


Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Current day month ye@r *



BlackSportsOnline