U.S. veteran host Ed McMahon (USMC) faces housing crisis

[jetdawgg]

BEIJING, June 5 (Xinhuanet) -- Ed McMahon, Johnny Carson's longtime sidekick on "The Tonight Show," is in jeopardy of losing his multimillion-dollar Beverly Hills estate, according to media reports Thursday.


McMahon defaulted on 4.8 million U.S. dollars in mortgage loans with a unit of Countrywide Financial Corp., which filed a notice of default in March

Documents show that McMahon is nearly 644,000 dollars behind in payments on the mortgage loan he got in 2005.

Howard Bragman, a spokesman for McMahon, said that his client is having "very fruitful discussions" with the lender and hopes to find a resolution.

As of Wednesday afternoon, McMahon's Mediterranean-styled house was still in the process of foreclosure; the bank hasn't taken it over yet and no trustee sale date has been set.

The former "Star Search" host, 85-year-old pitchman for various products, including American Family Publishers, is the highest-profile person to be caught up in the nationwide real estate downturn and mortgage crunch.

McMahon has been unable to work since he broke his neck 18 months ago, Bragman said.

The McMahons "understand that they are in the same situation as hundreds of thousands of other hard-working Americans, and their hearts go out to them," Bragman said.
The McMahons purchased their secluded Beverly Hills home in 1990. The mansion is huge with six bedrooms and five bathrooms.

http://news.xinhuanet.com/english/2008-06/05/content_8316485.htm

http://tbn0.google.com/images?q=tbn:QtZzj1fOy-msbM:http://jam.canoe.ca/Television/2008/03/13/e031395A.jpg (http://images.google.com/imgres?imgurl=http://jam.canoe.ca/Television/2008/03/13/e031395A.jpg&imgrefurl=http://jam.canoe.ca/Television/2008/03/13/4997751-ap.html&h=392&w=300&sz=48&hl=en&start=9&um=1&tbnid=QtZzj1fOy-msbM:&tbnh=123&tbnw=94&prev=/images%3Fq%3Ded%2Bmcmahon%26um%3D1%26hl%3Den%26sa% 3DN)


http://www.militarymuseum.org/Resources/McMahon.jpg

[Old Marine]

Poor Ed. Next we will be reading that he is in the poor house. Soup line's a *****, huh Ed.

[SgtThrasher]

I guess the Government needs to bail out" Ole ED " since
his medical problems won't allow him to pitch products and
make his millions.

[CBS]

A Marine Fighter pilot in Korea, he served his time. I like the man but this is a very
difficult time for many people and Ed's problem only echos Americas'. I still think Ross
Perot was right..."Hear that giant sucking sound...? That's jobs leaving our country "
Time to wake up........stop the illegal immigration, re-elect no one thusly one-term
fools in DC........abolish the IRS with a flat tax or the obvious will happen !

SEMPER FI..............>Chuck

[MotherGoose]

You'd think he'd have a house that has been paid off by now.

[SgtThrasher]

You'd think he'd have a house that has been paid off by now.

Amen Sister MotherGoose,
I like Ed's Marine Corps background but shouldn't he have
plenty of that "Here's Johnny" money left? He's had too
many trophy wifes.I'm 59 years old and have bought and
paid for two homes, that I still own and Uncle Sam didn't
pay one cent and I didn't expect any help.
:evilgrin:

[Old Marine]

I see Ed has his Navy gloves on in the picture.

[Gary Hall]

Not deliberately trying to be mean spirited but I always thought that us ****heads were all to be found in the ranks, certainly never wearing "Shiny". Gary Hall

[Kegler300]

All those Hollywood marriages have taken their toll.