Housing Crisis Gets Serious: Ed McMahon Losing Home (and Blaming Britney Spears)

Now we know the housing crisis is serious. 80-five year old Ed McMahon, Johnny Carson’s former sidekick, defaulted on $4.8 million in mortgage loans on his Beverly Hills estate and is fighting to stave off foreclosure. Credit Ed for not just putting his feet up in retirement, though: He says he couldn’t make payments because he broke his neck and can’t work. LA Times:

…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 [McMahon’s spokeman] said.

Ed also lays the blame on Britney Spears, poor girl:

“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.

Where’s that mortgage bailout when you need it?

See Also:

Wall Street Woes Hurting New York Real Estate Market

Desperate Americans Selling Nest Eggs, Life Insurance To Raise Cash

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