Ryan Lochte may have signed a number of lucrative endorsement deals following his success at the London Olympics in 2012, but that does not mean his entire family is doing well financially. According to court documents obtained by RadarOnline.com, Lochte’s parents have lost their Florida home to foreclosure.
Steven and Ileana Lochte, who are now divorced, lost their home in October after they allegedly had not made a mortgage payment since February 2011. The couple took out a $258,000 loan for the Port Orange home in 2007 and still owed more than $242,000 on it at the time they stopped making payments. Their monthly mortgage payment was around $1,600.
Fortune Magazine estimated that Lochte earned over $2 million in endorsement deals before the London Olympics. Websites like CelebrityNetWorth.com estimate that he is now worth around $3 million, but Steven said his and Ileana’s financial problems have absolutely nothing to do with the gold medalist.
“It’s not Ryan’s problem, we would never ask him for help,” Steven Lochte told the Daily Mail earlier this week. “Everything’s sorted, I have a town house, my ex-wife has her own home. We’re all good.”
Just before the Lochtes stopped making payments on their home, Steven was arrested for driving while under the influence and lost his license for a year.
While it would be easy to jump to conclusions and wonder why Ryan didn’t help clear his parents’ debt, we have no way of knowing what goes on behind the scenes. The Lochtes may not have told Ryan they stopped making payments, or they may have wanted the house to go to foreclosure. So no, this has nothing to do with Lochte’s inability to get the phrase “Jeah!” to catch on.