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For McMahon-sion, Heeeere's Foreclosure!

Posted Jun 4th 2008 9:15AM 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.

Tags: Ed McMahon, EdMcmahon, Foreclosure

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16. Send him ovah ! Vee need a live in Butlah! Hiz vife can keeb Zsz Zsa company, vile I ahm add da Ivy.

Posted at 10:12AM on Jun 4th 2008 by Prince von Ahnhalt

17. With all the money he's made over the years his house should be paid for. At his age he shouldn't be working so his neck injury shouldn't be an issue. He's retired and should be living off his savings and investments. If he doesn't have any, then that's his stupidity given his earnings and spending over the years. Sorry, but I don't have any sympathy for the rich when they end up broke from wasting the money other people can only dream of earning.

Posted at 10:14AM on Jun 4th 2008 by Victoria C

18. Rent out the home to Rock Stars who come out to Cally. Then sell the Benz, and live like the rest of us-on Social Security.

Posted at 10:14AM on Jun 4th 2008 by Dave the Butler

19. It is stories like this that just really piss me off. No one knows what ALL Ed has going on or how much money he has in the bank! All the real estate agent knows is that the house is for sale......................she doesn't know squat about Ed McMahons financials and really needs to shut the hell up! This is how ridiculous rumors get started that hurt people because, some people BELIEVE everything they read. Ed McMahon has been around for a very long time and I would be willing to lay some money down on the fact that he is very much financially secure!

There is ALWAYS three sides to every story..................yours, mine and the TRUTH!

Posted at 10:22AM on Jun 4th 2008 by Dallas

20. He probably won't recover from this, not at his age.

Your site is just awful and way too negative.

Posted at 10:40AM on Jun 4th 2008 by Sierra

21. Well Ed...it's time to play your Million Dollar Sweepstakes Giveaway! Get house like mine, it's 1500 sq. feet. It ain't so bad.

Posted at 10:39AM on Jun 4th 2008 by Down and Out In Thousand Oaks

22. haha Dallas, tell it like it is. Relaz, girlfriend, you are STRESSED!!

Posted at 10:41AM on Jun 4th 2008 by Kelli

23. Couldn't happen to a nicer guy! I worked for the insurance company that got popped for the big payday roughly back in either 2002 or 2003. They came out so far ahead it was almost criminal. Hell, they even submitted expenses for their dog that we deemed "fluffy". Given their "alleged" spending habits and expenses, it's no wonder that they burned through that settlement. Idiots!! All I have to say.....Karma, man....check into it.

Posted at 10:42AM on Jun 4th 2008 by insurancegirl

24. Sorry no sympathy for him...... At his age...with his celebrity status.....he should own whatever house he chooses to live in outright. Give me a break. What happened to his money? And if he cant afford his mulitmillion dollar mansion....then he needs to scale down to a house he can afford! sheesh

Posted at 10:46AM on Jun 4th 2008 by Anonymous

25. why does this dude have to consider working at his age? I don't get an 85 year old having to work and its the reason he lost his home.

Posted at 12:39PM on Jun 4th 2008 by flip

26. A BROKEN NECK? What's that mean? How did he get it? When did he get it? Is he permanently disabled? Or is that just entertainment media bull? Can he write or communicate at all? I mean, the guy IS 86.

Posted at 10:52AM on Jun 4th 2008 by stefano

27. Everyone wants to know what happend to his money? Not sure if he's still married but if he is, I would look to her as a possible source of any financial problems. He need's to curb the tart's spending habits. She could burn through money faster than if she took a blow torch to it. Unfortunately for the old guys, if you're going to have a young tart, you gotta pay for the upkeep. They ain't with you purely out of love....correction, it is purely out of love....love for you money.

Posted at 10:56AM on Jun 4th 2008 by insurancegirl

28. wow, do i detect a more than just a little glee in your report? seems like you think it's funny that someone's going to lose their house, an elderly person on top of it. shame on you, harvey levin........may you have the same fate someday.

Posted at 11:09AM on Jun 4th 2008 by karen

29. Blame Spears for lack of buyers ? Who would want to buy a house with mold ?

And most actors have no knowledge of finance, economics or accounting. They think the money is just going to keep rolling in.

Naive and dumb.

Posted at 11:27AM on Jun 4th 2008 by Milton

30. Where did all his money go? He worked on The Tonight Show for over 30 years, and, I'm sure, not for pennies. He had Star Search, Who Do you Trust? and those corny bloopers shows. He did hundreds and hundreds of commercials. And he got a $7 million settlement a few years back? He must have a serious gambling problem.

Posted at 7:06PM on Jun 4th 2008 by Moose Karloff

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