Ed McMahon, 85, sounds like he could stand to win the Publisher’s Clearing House right about now. The TV personality is said to be in default on a $5 million loan and in imminent danger of losing his Beverly Hills mansion.
Wall Street Journal is stating that the foreclosure process has already been started on the six-bedroom estate. Ed has not been able to work since breaking his neck. Between that and his advanced age, the former television personality is between the proverbial rock and a hard place.
The real estate agent who is selling McMahon’s home said that the reason the McMahon home has been on the market for two years is because singer Britney Spears lives in the neighborhood. It couldn’t possibly be because of Ed’s huge mold problem for which he won a $7.2 million dollars lawsuit several years ago.
The home is listed for $6.25 million. It’s too bad Ed didn’t use his mold money to pay down his debt. No doubt his lawyer made away with a good portion of the settlement but it appears Ed is living above his current means without the ability to save the homestead. The mortgage crisis has apparently crept up the social scale and is biting celebrities in the butt too.
http://bittenandbound.com/2008/06/04/ed-mcmahons-beverly-hills-mansion-i...
By Malene Birger
That is sad to hear.
1I heard about Ed McMahon's mold problem several years ago, but had forgotten all about it until recently. In the house I am now living, which seems to be very well insulated, on the front living-room, picture glass window the molding looked so bad with "black" it resembled "coffee grounds". I took down the blinds, bleached them, cleaned the windows inside and out then cleaned everywhere around where I thought there could possibly be air or moisture coming in with straight bleach. I am keeping a careful eye on this window now, as it "looks" 100% better, but don't know if it will stay this way. I have already purchased clear silicone caulking "hoping that it is just a problem with moisture and that I have killed the bacteria that causes black mold. I guess only time will tell. I feel so bad for Ed McMahon and hope everything will work out for him in the end. I know how it is to have something totally devastating happen to your home and it makes you feel like you have lost a "part of you life"". I suffered severe devastating, flood loss here in Ohio in 2003, which actually tore my marriage apart due to the major depression and loss. I feel for the man and his family, and know how hard it is to fight this bacterial mold infestation once it starts. God Bless him, and anyone else who has to go through this ordeal. It can really do some severe damage to not only the home but the family and all else involved. Signed, Jill, Concerned and Care in Ohio
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