Legendary Ed McMahon May Lose LA Home To Foreclosure
Ed McMahon, famous sidekick to Johnny Carson, is facing financial turmoil and may lose his house. McMahon has had his Los Angeles mansion for sale for over 2 years but has been unable to find a buyer.
Since suffering a terrible accident in which he has suffered a broken neck 18 months ago he has been unable to work and earn an income. It is amazing that for all the income McMahon has had to have earned in his long career as a pitchman that he is in this distress.
ReconTrust, a unit of mortgage lender Countrywide Financial, on Feb. 28 filed a notice of default on a $4.8 million Countrywide loan backed by Mr. McMahon’s home. The notice was filed with the Los Angeles County Recorder’s Office but hasn’t previously come to light. According to the filing, Mr. McMahon was then about $644,000 in arrears on the loan. It isn’t clear whether Countrywide still owns the loan or is acting on behalf of investors who acquired it. Public records also show that Mr. McMahon had a separate home-equity line of credit from Countrywide of up to $300,000 secured by the same house.
Mr. McMahon’s home has been on the market for about two years, his real-estate agent Alex Davis said. Mr. Davis said the price had been reduced, but he couldn’t immediately provide details. The Christie’s Great Estates Web site, which includes homes listed by Mr. Davis, lists the asking price at $5.75 million and says it has a canyon view and a master-bedroom suite with his and her bathrooms. via WSJ.com.
If you are looking for foreclosures like Ed McMahon’s home or even in your local area click here for a free 7 day trial.
Although I agree on most points, I would like to point out that most of the banks that are being ...
The question is when are they going to release them on the market. Las Vegas leads the nation in ...
I keep seeing mentions of Florida's market getting better in multiple blogs. I'm increasingly under the assumption that at least ...
I would like to know more about it. I need to know how you file for it. Please let me ...
Great blog, keep the great content coming! 
If you want to succeed, do not say "we can prevent this in the future." Live in reality. ...
The price of the property depends on its quality and the deal between the management. Good and wise choices are ...
I don't have experience at actualy working in tha automotive bussinnes, but have experience working in a warehouse invironment. ...
Pingback by Ed McMahon Raps in Free Credit Report Video’s About Foreclosure : The Real Estate Bloggers on 25 September 2008:
[...] to my RSS feed. Thanks for visiting!Ed McMahon, known as Johny Carson’s sidekick and most recently for the foreclosure on his home, is now rapping on a couple of You-Tube videos for [...]
Pingback by Stop Blaming Poor People For The Meltdown « Cinie’s World on 27 September 2008:
[...] remember that “subprime” refers to the loan, not the recipient. Congresspeople and entertainers have faced losing their homes, too. An environment of unlimited credit, plus the illusion of [...]