Olympic gymnast’s family lost home to foreclosure

New York /
Aug.August 08, 2012 12:30 PM

Strength and dedication aren’t the only attributes that factor into an Olympic medal, there’s also a heavy financial cost. American gymnastics bronze medalist Danell Leyva’s parents faced foreclosure of their home, which they ended up losing, in the years leading up to the 2012 games, BuzzFeed reported.

According to court records, Wachovia Bank sold the family’s Miami home to an LLC named Qualifier Properties for $141,800 in 2010 following two years of court proceedings between the bank and Leyva’s family, including his stepfather and coach, Yin Alvarez. Citing The Court filings, BuzzFeed said the family owed a total of $326,005 on the home.

Gymnastics doesn’t come cheap. Annual training costs for an Olympic gymnast can total upwards of $15,000. And Leyva isn’t the only example of Olympic training’s financial toll: Gold medal gymnast Gabby Douglas’ mother has reportedly filed for bankruptcy, and swimming superstar Ryan Lochte’s mother is reportedly facing foreclosure.

As previously reported on The Real Deal’s South Florida site, Miami metro foreclosure filings rose 24 percent in the first half of 2012, compared to the same time span last year. [BuzzFeed] — Zachary Kussin


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Jill Stuart and 113 Parsonage Lane (Getty, Google Maps)
Famous fashion designer sews up Sagaponack sale
Famous fashion designer sews up Sagaponack sale
Hiten Samtani
Watch: CoStar makes its biggest resi Move yet
Watch: CoStar makes its biggest resi Move yet
Coxsackie mayor Mark Evans (Village of Coxsackie, Getty)
Another Hudson Valley village halts short-term rentals
Another Hudson Valley village halts short-term rentals
From left: Starwood Capital’s Barry Sternlicht and Veracity Development’s Edmond Li along with 111 Mercer Street (Getty, Google Maps, Veracity Development)
Sternlicht’s LNR aims to foreclose on Veracity’s Soho condo
Sternlicht’s LNR aims to foreclose on Veracity’s Soho condo
(Illustration by Kevin Cifuentes for The Real Deal with Getty Images, James Gagliardi of Modern Media)
PHOTOS: Brown Harris Stevens turns 150
PHOTOS: Brown Harris Stevens turns 150
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...