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For McMahon-sion, Heeeere's Foreclosure!

6/4/2008 10:15 AM PDT BY TMZ STAFF

Ed McMahon of Bev Hills: You may have already defaulted on a nearly five million dollar loan, and you could lose your house soon!
Click to read the documents!
Foreclosure is underway, according to the Wall Street Journal, on McMahon's six-bedroom mansion in BH. 85-year-old Ed's been laid up with a broken neck and he hasn't been able to work. So he's in arrears, you'll pardon the expression.

And get this -- the real estate agent who's trying to unload the house says all the papers following Britney Spears (who lives nearby) are wreaking such havoc in the neighborhood it's scaring potential buyers away.

BTW, the house has been on the market for two years -- it's now listed at $6.25 mil. A few years back Ed had a huge mold problem with the house. Ed sued and got $7.2 mil.

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