Olympian’s Parents Face Foreclosure
Olympian’s Parents Face Foreclosure
The parents of Ryan Lochte, the U.S. swimmer who’s won two gold medals in the 2012 Olympics in London, are facing foreclosure on their home in Volusia County, Florida.
CitiMortgage is suing to foreclose on Steven and Ileana Lochte and seeking to recoup $250,000.
Lochte’s parents divorced last year, but both of them are in London watching their son compete. Court records show that Ileana Lochte requested dismissal of CitiMortgage’s lawsuit last month.
The Lochtes aren’t the only parents of an Olympic star who are facing financial difficulty. The mother of U.S. gymnast Gabby Douglas, who took gold in the gymnastics all-around competition in the London Olympics, filed bankruptcy earlier this year in Virginia.
An article on The Daily Beast Web site claimed that financial hardship among parents of elite Olympic athletes is not all that uncommon. That’s because they frequently invest tens of thousands of dollars in their children’s equipment, training, and other expenses — sometimes in a single year — without much outside assistance.
Sources: “Lochte’s Parents Face Foreclosure,” msn.foxsports.com (Aug. 4, 2012) and “Gabby Douglas, Ryan Lochte: Why Families of America’s Olympics Athletes Are Broke,” The Daily Beast (Aug. 7, 2012)
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