For McMahon-sion, Heeeere's Foreclosure!

31. Come on people...........................He's got money...............This house isn't selling for several reasons: ONE: It had a mold problem ewwww, which has to be disclosed, TWO: Ms. Skank lives a few houses up the road; ie: paps all over the friggin place 24/7 ...THREE: The house was probably over appraised to begin with.

Ed's like 85 y/o................He's looking to get into an upscale assisted living place somewhere, or a home that he can get around in with less effort. IMO. Hell , I'd tell the bank to take the damned thing back if I was Ed. Maybe that's what he's doing..........who knows.

Posted at 11:41AM on Jun 4th 2008 by whatever

32. Isn't this ironic, TMZ that you are DIRECTLY responsible for a portion of his issues. By hounding and stalking Britney Spears all over creation and setting up live-wires right outside her house you've created an issue by devaluing EM's property. Maybe TMZ should take all that greedy cash it's earned from stalking BS and pay off the amount that EM is in arrears!!! I'd respect your organization a whole lot more to see you do something like that!!!

Posted at 4:12AM on Jun 5th 2008 by Oats

33.

THIS IS REALLY, REALLY SAD, THIS MAN SHOULD HAVE ALMOST AS MUCH MONEY AS CARSON HAD AND JOHNNY DID 'IT' WITH DIGNITY, NOT ED HE'S OUT SCAMMING ON EVERY COMMERCIAL HE IS OFFERED POSSIBLY RIPPING OFF THE ELDERLY. SORRY TO FEEL THIS WAY ABOUT AN OLD GUY, BUT COME ON THIS HOUSE AND 4 OTHERS IN BEVERLY HILLS SHOULD BE PAID OFF BY NOW THE GUY HAS ALWAYS WORKED AND SHOULD NOT BE ON TMZ'S SITE LOOKING PITIFUL. SORRRY ED, GO TO AN ASSISTED LIVING SITUATION IN PALM SPRINGS AND GOOD LUCK.

Posted at 12:08PM on Jun 4th 2008 by OKFINE

34. The journalism these days is so terrible. TMZ actually has the complete story which is amazing, the AP has a half assed story that makes Ed seem like hes a broke old man. Ed received a $7.2 million lawsuit for mold inside the house, he cant sell the house so he is just going to walk away from it with profit. Most likely because people with money want privacy and not Brit's entourage wreaking havoc. You people are so dense and stupid that comment too. God damn can't you read the story and come to intelligent conclusion on why he is selling. It really goes to show the intelligence of this country when we elected Obama as the Democratic nominee. Where the hell did this guy come from and he has accomplished nothing yet he might be president. Dumbing down of American is slowly happening.

Posted at 12:25PM on Jun 4th 2008 by FerrariGTC

35. "NOT ED HE'S OUT SCAMMING ON EVERY COMMERCIAL HE IS OFFERED POSSIBLY RIPPING OFF THE ELDERLY"

What a load of bulls***.

Posted at 12:20PM on Jun 4th 2008 by Togma

36. IT'S NO SECRET.........HE DRANK EVERYTHING AWAY-----THAT STARTED YEARS AND YEARS AGO.

Posted at 12:22PM on Jun 4th 2008 by TDM

37. FerrariGTC......YOURE RIGHT ABOUT ONE THING......OBAMA (AKA HUSSEIN) AS A POSSIBILITY TO RUN OUR GREAT UNITED STATES. NO NO NO AND WE GOTTA DO ALL WE CAN TO KEEP HIM AND HC OUT.

Posted at 12:30PM on Jun 4th 2008 by TDM

38. KELLI, WE'LL SEND YOU QUARTERS!!!!!!!! HAHAHA

Posted at 12:33PM on Jun 4th 2008 by muffy

39. The 85-year-old pitchman for various products, including American Family Publishers, is the highest-profile person to be caught up in the nationwide real estate downturn and mortgage crunch.

"He's not alone. There are plenty of people affected by the weak economy, bad housing market or bad health," McMahon's spokesman, Howard Bragman, said late Tuesday.

Bragman said McMahon fell and broke his neck about 18 months ago and has been unable to work since.

"The ideal situation would be that he would be healthy and able to earn a living to pay for his house," Bragman said.

The six-bedroom, five-bath home on Crest Court is listed for sale at $6.25 million, said real estate agent Alex Davis of Alex Davis Estates, who has the listing. It's been on the market for two years, he said.

It would seem to be an ideal home. The Hilton & Hyland luxury real estate website described the home as a celebrity Mediterranean estate in the prestigious Beverly Hills gated community of The Summit, which overlooks Coldwater Canyon and Mulholland Drive.

"This once-in-a-lifetime offering is full of charm and character. The foreign imported doors and meticulously chosen fireplaces are unlike any other," the website boasts. It also has a master suite with his-and-hers baths and closets overlooking the yard and a sweeping canyon.

But Davis said The Summit has been a difficult area to sell.

"In the midst of trying to sell this property, there were a lot of distractions," Davis said, citing paparazzi who have converged around the nearby home of Britney Spears.

"When we were trying to sell the house one time, there were about 100 paparazzi there," he said.

Another difficulty for the area has been a mold contamination that has plagued a number of homes, including McMahon's and one purchased for the director of the Getty Museum.

McMahon won a $7.2-million insurance settlement after claiming that mold in his house killed his dog Muffin and sickened him and his wife.

According to a lawsuit he filed, the trouble began when a pipe broke and water flooded a den. Mold was later discovered throughout the house. McMahon and his wife, Pamela, blamed faulty cleanup.

"When your family loses its health and your home is a wasteland, that's a colossal disaster," McMahon said at the time.

Both the Hyland website and ChristiesGreatestEstates.com list the property, built in 1989, at $5.75 million. Davis said it was still priced at $6.25 million.

McMahon took out two loans on the property totaling $4.5 million and later borrowed an additional $300,000 against the house, according to ForeclosureRadar. The loans were obtained through Countrywide Home Loans Inc.

A Countrywide spokesman declined to comment, citing privacy concerns.

The Wall Street Journal first reported the story. Though McMahon was in negotiations with Countrywide, the paper said it wasn't clear whether McMahon and his wife would be able to remain in the home.

McMahon was about $644,000 in arrears on the loan when the notice of default was filed, the paper said.

Federal regulators have been urging lenders to ease loan terms, but it wasn't clear if that would happen in McMahon's case.

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

40. Well hell, if Countrywide mortgage is holding the paper then Ed should tell them to F off and hand them the keys! Countrywide has some BAD paper floating around...............very suprised they have not completely folded! Maybe BofA can weed out all the ugliness!

Posted at 12:58PM on Jun 4th 2008 by VP of Title Company

41. For the record, when McMahon won the $7.2 lawsuit, he was obligated to fix everything - that's basically what the money was for. While I'm unsure if the money was used for those purposes, it is very possible that the mold was never abated or completely repaired. Further, I'm actually curious as to whether the $7.2 million was money that he actually received in-hand or if it was the total awarded. If it was the total awarded, most likely his attys took more than 50% and then all the "experts" that worked for him took another 25%. That might not actually leave him w/ enough to complete the repairs for the alleged damages.

That said, the homeowner usually doesn't come out ahead on these lawsuits and finds they have a huge disclosure problem. Who wants to buy a house filled w/ mold?

Oh - and if I remember this case correctly, he alleged that the mold caused the death of his dog too!

Posted at 1:03PM on Jun 4th 2008 by Ryan

42. I do not know how old his wife is but I'm sure she is much younger than he.I have a friend that enrolled at the Savannah Performing Arts in Ga. and he was there to enroll his kid and I know she could not be 85 yrs.old.What are these old men thinking they even look older next to a young woman.

Posted at 1:24PM on Jun 4th 2008 by JOY

43. Well the house sure won't sell now, Ed, do urself a favor and go and retire in a nice condo on the Ocean. Time to rest and not have all these headaches!

Posted at 1:22PM on Jun 4th 2008 by Breck

44. I agree and disagree with with some of the previous posts. The house has been on the market for so long and with the housing market the way that it is, no one wants to inherit a house that had such bad problems (even for Beverly Hills). As for if he is broke or not, I cannot imagine someone like him with all the money he has earned over the many years of working did not invest or save somewhere. But I do find it interesting that is spokesperson said since his neck injury he has not been able to work. At 86, he shouldn't be working and should be retired, so his spokesperson may have hinted at something. There are many, many, many homeowners out there that are allowing the banks to forclose on their home because they cannot sell it and they can afford to pay the mortgage, lets not kid ourselves people. To ED: Sir, you are 86 years old and should live life how you want to live it before your time is up. Do it.

I'm not quite sure I understand why he feels the need to live in a house that is too much for him and his wife (is he married???). Here's a thought, instead of the all the false pretenses like all of hollywood is, go retire someplace affordable, bank the rest of the money spending on that stupid mortgage and other stuff at your age doesn't need and travel or something. I don't know at your age if traveling is a good idea.

Posted at 2:28PM on Jun 4th 2008 by Renee

45. Ed McMahon married his wife Pamela Hurn when he was 69 yrs old. She was 37 and this was in 1992.

I've always said, you can be a nurse or a purse but it's generally not worth it to be both!

Posted at 2:35PM on Jun 4th 2008 by Ryan