Ed McMahon's L.A. house is in foreclosure
Ed McMahon handed out millions in American Family Publisher's sweepstakes checks, but right about now he'd settle for enough to pay the mortgage.
Johnny Carson's former sidekick was $644,000 behind on payments for the $4.8 million in morgage loans on his Beverly Hills home, the AP reports. And that was on Feb. 28, when Countrywide Financial Corp. filed a default notice with the L.A. County Recorder's Office.
Part of the problem, spokesman Howard Bragman said, is that the 85-year-old hasn't been able to work since he broke his neck after a fall 18 months ago. McMahon is trying to sell the house -- listed at $6.25 million -- but is having no luck.
"There are plenty of people affected by the weak economy, bad housing market or bad health," Bragman said. And there are plenty of people who really don't need multimillion-dollar houses down the street from Britney Spears.
[Photo: Getty Images]
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Years ago, David Letterman was a guest on the last week of Johnny and Ed's Tonight Show. Dave turned to Ed and joked, "What are you going to do now? You saved your money, right?"
So is Ed broke? Or is this just some financial scam to boost some cash from his creditors?
Posted by: Lina M | June 07, 2008 at 09:22 PM
The Carson family wouldn't agree to let Ed exhume Johnny's corpse for a comedy tour.
Posted by: Average Joe | June 07, 2008 at 09:14 PM
This doesn't mean Ed is broke, this only means Ed's not paying his mortgage. Banks are so backed up they are renegotiating rather then having to turn over a property themselves. I'm sure Ed was "advised" in his current health condition to save his cash for his living expenses right now, at 85yo, by the time they get serious enough to foreclose on him, he'll be long gone.
Posted by: SideShowBob | June 05, 2008 at 04:50 AM
Boy Ed if there ever was a person who should loose his house its you. A.P. says in 2001 you got a $7.2 million insurance settlement for mold in the house, then in 2005 you take out a $300,000 line of credit on the same day you took out another $4.5 million loan on the house. They also claim numerous other loans taken on the property. Is the cash all in a Swiss bank account?
Posted by: DJ | June 04, 2008 at 10:59 PM
Where did all the money go he made over the years?
Posted by: Jay | June 04, 2008 at 06:40 PM
Maybe the publisher's clearinghouse guys will stop by!
Posted by: jc | June 04, 2008 at 03:00 PM