Ed McMahon Fighting Foreclosure
By Barbara E. Hernandez
Wednesday, June 4th, 2008 at 8:41 am in Celebrity Foreclosure, Foreclosure Fever, The Market.
For those who think foreclosure only affecting subprimers, read on about 85-year-old Ed McMahon of mail sweepstakes American Family Publishers and “The Tonight Show with Johnny Carson” fame:
McMahon defaulted on $4.8 million in mortgage loans with a unit of Countrywide Financial Corp., which filed a notice of default in March, according to ForeclosureRadar, a company that sells default data pulled from public records.
“He’s not alone. There are plenty of people affected by the weak economy, bad housing market or bad health,” McMahon’s spokesman, Howard Bragman, said late Tuesday.
Bragman said McMahon fell and broke his neck about 18 months ago and has been unable to work since.
“The ideal situation would be that he would be healthy and able to earn a living to pay for his house,” Bragman said.
According to the article, McMahon owed $644,000 on the house when the notice of default was filed. The home is now on the market for $6.25 million.
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