Jun 07 2008
Ed McMahan Faces Foreclosure
There is nothing sadder than to see a Hollywood icon in his or twilight years facing financial problems. That is what is happening to legendary Tonight Show sidekick Ed McMahon.
Ed, who was a staple on television for over 30 years, is facing foreclosure on his multimillion-dollar home in Beverly Hills if he cannot find a buyer. Ed and his third wife Pam are over half a million dollars behind in the mortgage. How can a celebrity of Ed’s stature not be able to make the rent? Ed, who is now 85 years old, blames it on the bad economy, bad financial planning, and bad luck (he broke his neck 18 months ago and cannot work because of it). In addition, he had to pay two ex-wives.
The 7,000 square foot home has been on the market for two years, but even after 50 groups and individuals looking at it, there is still no offer. Ed and Pam went on “Larry King Live” this week to explain their predicament. The home is listed at $6.25 million, but Ed remains positive about the situation. This week, there has been renewed interest in the home.
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