Celebrities and the Credit Crunch - Ed McMahon
Tuesday, August 19th, 2008 
Posted by Overseas Property Mall in Celebrities & Property, Overseas Property Trends
American comedian, game show host and former anchor man on “The Tonight Show”, Ed McMahon is currently on the verge of losing his Beverly Hills mansion due to his inability to make mortgage repayments.
Real estate magnate, Donald Trump is reportedly stepping in to buy Ed McMahon’s mansion in a bid to lease it back to McMahon to ensure he maintains his standard of lush Beverly Hills living.
According to the LA Times, Mr. Trump explained that his ‘conviction’ for helping Ed McMahon was that, “When I was at the Wharton School of Business … I’d watch him every night. How could this happen?”…. it “would be an honor” to ‘help’ McMahon
Perhaps the reason for the shrewd buy was due to McMahon slashing the price on his Beverly Hills house by $1.9 million, to $4.6 million.
Photo credits: Alan Light (Flickr)
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Tags: beverly hills, donald trump, ed mcmahon, foreclosures, mortgage repayments, real estate, repossessions
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This entry was posted on Tuesday, August 19th, 2008 at 1:17 pm and is filed under Celebrities & Property, Overseas Property Trends. You can follow any responses to this entry through the RSS 2.0 feed.
