Posted: 10:39a.m. IST, August 5, 2012
Washington, Aug 5 (ANI): Ryan Lochte's parents are facing foreclosure in Florida, after falling deep in debt.
According to the lawsuit, CitiMortgage claims Steven and Ileane Lochte took out a 258,000-dollar mortgage on their Florida home in 2007 and were meant to pay 1,609.58 dollars-a-month, TMZ.com reported.
However, the swimming champion's parents allegedly stopped making payments in February 2011 and now owe 242,239 dollars on the home, according to the bank.
The bank is now suing to foreclose on the home and get their money back.
However, if the sale of the Lochte home does not cover the costs of the couple's entire debt the bank wants them to pay the difference.
Court records show that Ileana Lochte asked the court to dismiss the case last month. (ANI)