Ed McMahon Foreclosure

The Wall Street Journal reported on June 4, 2008, that 85-year-old television personality, Ed McMahon, is facing foreclosure on his Beverly Hills, California, home.WSJ: Ed McMahon May Lose Beverly Hills Home (June 4, 2008) A unit of Countrywide Financial Corp. filed a notice of default on February 28, 2008. McMahon is reported to owe $644,000 on a $4.8 million loan.WSJ: Ed McMahon May Lose Beverly Hills Home (June 4, 2008)

On August 15, 2008, The Associated Press reported that Donald Trump offered to buy McMahon's Beverly Hills mansion and in turn lease it back to him.Associated Press: Trump to buy McMahon's home (August 15, 2008) Ed McMahon died on June 23, 2009.

In 2005, Ed McMahon broke his neck in a fall and he has been unable to work.CNN: Ed McMahon explains his mortgage mess (June 6, 2008)

He has been trying to sell the home but Britney Spears' home is nearby and the constant swarm of paparazzi is a put-off for potential buyers.LA Times: Mortgage turmoil snares.. (June 4, 2008)

McMahon's home was contaminated with mold after a pipe burst in 2001. McMahon sued his insurance company for $20 million after he claimed the mold ruined memorabilia and caused illness in him and his wife and caused the death of the family's dog. The house had to be gutted.LA Times: Mortgage turmoil snares.. (June 4, 2008)

The case settled out of court for $7.2 million.LA Times: Mortgage turmoil snares.. (June 4, 2008)

In August 2008, Donald Trump reportedly offered to buy McMahon's home to save it from foreclosure. After the purchase, Trump would turn around and lease the home back to McMahon. Trump stated that even though he doesn't personally know McMahon, "it would be an honor to help him out."Associated Press: Trump to buy McMahon's home (August 15, 2008)

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