Ed McMahon Facing Foreclosure
Celebrity, politician, or regular joe, foreclosures can happen to anyone. It happened to U.S. Representaive Laura Richardson in Sacramento and now it's happening to "heeeeeeeere's Johnny" Ed McMahon at his Studio City home.
McMahon is fighting it, but is $644,000 behind in mortgage payments. "Mr. McMahon broke his neck in a fall about 18 months ago and hasn't been able to work," said Howard Bragman, a spokesman for Mr. McMahon, per the Wall Street Journal. "That health problem, along with the weak housing market and economy, has forced Mr. McMahon into foreclosure proceedings."
The six-bedroom house was bought for $2.6 million in 1990. A May 2008 listing had it at $6,250,000. Initially, the 7,000 square feet plus mansion was listed at $7.7 million, but was quickly reduced to below $7 million with further price cuts over the past two years. Despite all news reports saying McMahon lives in Beverly Hills, it is simply incorrect as 12000 Crest Ct. is north of Mulholland Drive in Studio City (The gated community's 90210 ZIP code does not mean they are part of Beverly Hills. Generally speaking, The Zone Improvement Plan (ZIP) code is there in order to identify the regional post office).