Television celebrity Ed McMahon has finally found a buyer for his multimillion-dollar Beverly Hills mansion, avoiding a foreclosure that would have made him among the most high-profile victims of the U.S. housing slump.
The buyer of the six-bedroom, five-bathroom home was not disclosed, but McMahon spokesman Howard Bragman said on Friday it was not billionaire Donald Trump. The New York developer had said last week he was in discussions to buy the house and lease it back to McMahon after widespread publicity about the celebrity's default on his $4.8 million mortgage.
"It's a confidential deal, and the buyer wants anonymity, but I can tell you it is not Mr. Trump -- and it's not John McCain," Bragman said, joking about the Republican presidential hopeful's admission this week that he did not know how many houses he and his wife own.
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Comments (2)
Gee, I thought that Donald ... (Below threshold)1. Posted by Paul Hooson | August 25, 2008 12:07 PM | Score: -1 (1 votes cast)
Gee, I thought that Donald Trump was going to buy this home. This mortgage market mess is worse than I thought.
1. Posted by Paul Hooson | August 25, 2008 12:07 PM |
Score: -1 (1 votes cast)
Posted on August 25, 2008 12:07
2. Posted by Chad | August 25, 2008 5:46 PM | Score: 1 (1 votes cast)
How would he be a "victim" of anything? You are a victim if something bad happens to you without your participation in the cause. Yes, Mr. McMahon's income was not as high as he speculated it would be. Perhaps a more modest house and some thrift could have gotten him by. There's a house across the street from my parents home that was abandoned because the residents were afraid of foreclosure. Problem with that for me is that they had a motor home, a boat and 4 cars, and yet none of the residents ever seemed to go to work. I tell you that not one of them kept a regular schedule, walked out with lunch in hand, or wore a work "uniform" of any kind. A lot of this "housing slump" is the bills coming due for people who have borrowed too much that they can't pay back. That's a matter of personal responsiblility. I understand that Mr. McMahon was ill, and that it cut into his earnings, I can see possibly calling him a victim of his illness, however, my grandfather had both knees replaced before he retired, and I can guaran-damn-tee you that the bank never got a payment from him late.
2. Posted by Chad | August 25, 2008 5:46 PM |
Score: 1 (1 votes cast)
Posted on August 25, 2008 17:46