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Ed McMahon’s Home Near Foreclosure
4-Jun-2008
Written by: E. Van Dril
The 85-year-old is close to losing his home.
Nearly everyone in the United States has been affected by the poor economy, including Ed McMahon.
The 85-year-old former Star Search host is reportedly behind on his mortgage payment, and fighting to avoid foreclosure on his multimillion dollar Beverly Hills home.
McMahon was $644,000 behind on the mortgage payments for his $4.8 million home, according to the Associated Press, until Countrywide Financial Corp. filed a default on the home Feb. 28.
The main source of income for McMahon in recent years has been as a spokesman for different products, including the American Family Publishers’ sweepstakes. But he has been unable to perform these duties (and, in turn, make money) after he broke his neck 18 months ago, said his spokesman, Howard Bragman.
“There are plenty of people affected by the weak economy, bad housing market or bad health,” Bragman told the AP.
McMahon has reportedly had useful conversations with the lender in the attempt to resolve the situation and stay in his house, but his future is still up in the air.
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