Ryan Lochte was a money-making machine after the 2012 London Olympics, even landing his own reality TV show — but RadarOnline.com has exclusively learned he was unable to help save his parents’ home, which they lost to foreclosure.
The Lochtes were first sued in 2012 by CitiMortgage claiming the couple took out a loan for $258,000 in 2007, requiring $1,609.58 payments per month.
But the bank then claimed the Lochtes stopped making their payments in Feb. 2011 and owed more than $242,239!
The Olympic swimmer’s parents were sued in Volusia County, Fla. for foreclosure over the money owed and lost last October.
The judge signed a judgement in favor of the bank to the tune of $304,219.95.
Although the bank hasn’t listed the house for public auction yet, it’s only a matter of time before they do as they were issued the Certificate of Title on Dec. 18, 2013.
Interestingly, just before the Lochtes stopped making payments on their home Steven was arrested and charged with a DUI on April 11, 2010 blowing a .207 and .217 on the scene.
Steven lost his driver’s license for one year.
A source told Radar that the foreclosure comes after his parents decided to divorce, noting “Ryan planned on moving his mom out of that house.”
“Over the years, the first person to benefit from Ryan’s fame has been his loved ones,” the insider explained.
“He’s gotten cars for his mom, family, extravagant gifts and trips, you name it. He would give anyone in his family his last dollar… it’s pretty awful that he’s made to appear to be anything less than a generous and loving son.”