Ed McMahon house getting foreclosed?

[Sweetie]

Maybe Publisher's will come knocking on his door.

[Belinda]

^^^ Lmao

[Bellatheball]

That sucks but how does one earn (presumably) millions and millions of dollars over a lifetime and have nothing to show for it?

[Palermo]

One of the sites said he had a mold problem, sued and got 7.5 million. Uh, wouldn't that have paid off the mortgage? Why should he have to worry about still working at his age?

[RevellingInSane]

Originally Posted by greysfang

This is sad, a legend like he is shouldn't be having such awful money problems. I'm sure Johnny will step in and help him out.

Anyone who gets the tape of that will make MILLIONS! He died a few years back.

Didn't McMahon make several million per year throughout the 80s and 90s. He also made money from Star Search. There really is no reason to even have a mortgage on his home after all this time. Financial mismanagement?

[sparkly]

Originally Posted by Palermo

One of the sites said he had a mold problem, sued and got 7.5 million. Uh, wouldn't that have paid off the mortgage? Why should he have to worry about still working at his age?

So he got $7.5 million, not to mention all the millions and millions he's earned in the last 5 decades. It sounds to me like he's blown through all of it and couldn't stop overextending himself. Jeez, I feel bad for the guy, but it's hard to sympathize when he's probably earned more than $30 million or so, and he blew through all of it.

[Str8_uncut-jock]

It's sad, but if he hasn't paid off his house or other bills and has wasted what we can only imagine is a lot of money, then he deserves this. The same as you and I would if we did the same thing (although for most of us I suspect on a much smaller scale). Sometimes we have to save for a rainy day and prepare for tough times...didn't he have a retirement plan? Investments? Pension? Something?

[msdeb]

Originally Posted by greysfang

This is sad, a legend like he is shouldn't be having such awful money problems. I'm sure Johnny will step in and help him out.

i'm sure once he claws his way out of the coffin, he'll help

[tictac]

I know he's been around for centuries, but did this man ever have any discernable talent?
I only remember him as sitting on Johnnie's couch chuckling and saying "you are correct, sir".

Why the hell did he have a mortgage anyway? Ever heard of not living in debt?

[Novice]

"In the 1990s, McMahon was reputed to be worth in excess of US$200 million in real estate holdings"
Don't forget that real estate has gone down... however... surely not so much that he can't afford to pay off his mortage since he bought this in 1990...

Anyhow - here's the pictures!


Incidently, there have been others houses bought & sold in the same gated area that he's in in Bev Hills while this one has been on the market.... overpriced perhaps? or maybe it smells of mold &/or cat pee..... Who knows?

[sparkly]

^How does one blow through $200 million dollars? It's mind boggling.

[Novice]

I dunno if he has Sparkly, it could be that he invested badly (real estate dropping) it could have gone in divorce settlements? Perhaps?
It might all be part of his re-financing that's just got out of hand...?

[nwgirl]

Does anyone know if he has a young wife? If so, maybe he likes to shower her with gifts he can't afford. Otherwise, it's just poor money management.