Ed McMahon’s Beverly Hills Home Faces Foreclosure

We didn’t need to read WSJ a couple days ago to know that the number of home foreclosures is up and rising across America. That as of April 2008, there were 660,000 foreclosed homes, up from 493,000 in January 2008 and 231,000 in January 2007.

mcmahonBut we got a shocker today when WSJ reported that Ed McMahon’s $6.25 million, 6-bedroom/5-bath home in a Beverly Hills gated community is facing foreclosure. McMahon worked for decades as Johnny Carson’s sidekick on “The Tonight Show” (introducing Carson with his famous “Heeeeere’s Johnny” since it first aired in 1962), as the face for Publishers’ Clearinghouse Sweepstakes, and as host for “Star Search” (a precedent to “American Idol”). He also served as a pilot in the U.S. Marine Corps.

McMahon is $644,000 behind on his mortgage payments because he broke his neck 18 months ago, had to undergo two surgeries, and hasn’t been able to work since. The man is 85 years old, for goodness’ sake. His mortgage lender, Countrywide Financial Corp., is apparently in discussions “to resolve the situation.”

Two-time presidential hopeful John Edwards said: there are two Americas. I used to think that meant: those whose homes get foreclosed and those who can still buy vacation homes in euros. McMahon’s story describes a third America: those who work all their lives to make ends meet. Then see their homes foreclosed.

We are desperate for change.

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3 Responses to Ed McMahon’s Beverly Hills Home Faces Foreclosure

  1. starlette says:

    Well it seems former heavyweight champion Evander Holyfield appears to be having financial problems as well. Apparently his Fayette County estate is under foreclosure. The home worth an estimated $10 million is set to be auctioned by a bank on July 1.

  2. Bandage says:

    I heard about this Ed McMahon thing. Holy Cow! Who would have thought? On the other hand, what has he done lately, right? I hope he’s got a nest egg beyond this. He’s awfully old and he’s probably got relatives who are hoping to inherit… something…

  3. blixity says:

    yes unbelievable. he is 85 years old and has to keep working to stay in his home. ack. not quite an american dream. now holyfield too. yikes.

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