Donald who?
Posted on 08/14/2008 6:26:36 PM PDT by EveningStar
It's "The Donald" to the rescue.
Mega-developer and TV personality Donald Trump has agreed to buy Ed McMahon's Beverly Hills house for an undisclosed amount and allow McMahon to continue living in it. Details of the deal are still being ironed out.
(Excerpt) Read more at latimes.com ...
SoCal ping
Maybe Donald can pay my Dental bill for me
I wonder why the house didn’t sell.
The gist of it is that this is a demonstration of how socialism really can work in practice. All McMahon has to do in order to earn this largess is simply to die within 9 months to do his part "for the team."
Hey - yohh !
How humiliating. Poor Ed.
Maybe Mr. Trump is just doing a nice thing. If so, blessings on him.
How long before Ed tires of being a serf on The Donald’s manor and decides to decamp for less posh digs?
I saw Ed McMahon on Larry King Live a few weeks back whining about his situation. He was making no sense whatsoever. Larry of course just let him ramble on. Never asked him “Ed, what the heck? You made money by the bucketful for many years. What did you do with it all and why should anybody feel sorry for you?” Ed just spouted off this “Hey, ‘it’ can happen to anybody, even me” nonsense like his condition was the result of circumstances completely beyond his control. Feh!
He’s gotta kick the golddigger out
By definition he was asking too much.
Sounds like a win-win scenario with the Donald...
question is why is Ed McMahon at 85 and
still carrying a huge mortgage and not
living in some paid off property already?
Not a bad investment for The Donald as he knows that Ed will be Out of the House in a few years.
It’s too late to kick out the dog-hoarding golddigger. It’s amazing that someone who made so much money could end up with (relatively) so little.
Trump has been watching Fox News and got a whiff of the Reverse Mortgage caper that’s advertised over and over . . .
several reasons from what little I’ve heard”
-the big stumbling block, was that the house had a terrible mold problem that was publicized several yrs ago. Though they did extensive work on the home and supposedly took care of it, they couldn’t mitigate the negative publicity.
also
-they were asking too much
-they loved the house and didn’t really want to sell it
What did happen to his money?
"Ed's Mc Van"
"Where will Ed be living in six months?"
Saw Ed interviewed a few weeks ago. he said that his wealth was dissipated by several divorces and some unwise investments. He was doing okay until he broke his neck a year or so ago and could not work for an extended time. He sounds liek many people, living beyond their means or at the limit of them and then — pop — something bad happens and they are financially under water fairly quickly.
Also depends how much equity (if any) Ed McMahon gets out of the sale. I don’t imagine Trump would reverse mortgage it but only lease it out to E.M. My house is nothing to sneeze at but its paid in full.
Women and liquor.
He's got an angle. People like him don't take a piss without getting paid for it in some way.
Never underestimate the ability for a deadbeat to rob you blind.
That kootchie is a powerful thing. It will make a man crazy
Would not qualify for a reverse mortgage. Must be the borrower’s primary residence, and the borrower must be at least 62 (I don’t think The Donald’s there yet). I’m not going to impugn Trump’s motives or disrespect McMahon. He gave me a lot of laughs over the years, and he’s a brother Marine. I hope he can live the rest of his life with some degree of peace of mind.
Unlike his old buddy Johnny Carson, who really invested his money well, Ed spent like no tomorrow, was on his third or fourth wife, and made horrible investment decisions including backing his current wife in several bad business ventures.
Although I love nostalgia and remember “The Johnny Carson Show” fondly I have tears no for Ed. At least Trump may be helping Ed out as opposed to other Hollywood types who said they would help out like Steven Spielberg and friends.
You never saw Ed drink, did you?
.
That’s a very nice thing for Trump to do. Now Ed doesn’t have to go on the wagon.
YOUR MAMAS NOTES: Your Mama apologizes in advance for hating on this house, but we find it to be just so damned ugly. Mediterranean? Please. The listing agent at Hilton & Hyland says the house is Mediterranean, but Your Mama is not seeing it. The facade of this house looks more like something we would expect to find up in one of the better neighborhoods of Beirut or Riyadh. But instead, this beast is located just inside the gates of Beverly Hills’ The Summit where it overlooks Coldwater Canyon and busy Mulholland Drive.
All the celebrity real estate hounds will recognize The Summit as the very same gated community where Gavin Rossdale and Gwen Stefani live in a double gated $15,000,000 extravaganza, and of course, also where the bald and troubled Britney Spears is flipping her most recent real estate purchase.
For nearly 30 years Ed McMahon was Johnny Carson's bitch on the Tonight Show. His only responsibilities seemed to be shrieking, “Heeeeeere’s Johnny!” at the start of the show and then sitting off to the side guffawing at and agreeing with whatever Johnny said. For this he was no doubt paid handsomely, but Your Mama imagines this would not be the most stimulating job in the world. Fortunately, McMahon had plenty of moonlighting gigs such as hosting Star Search in the 1980s and 90s and working as the pitch man for the Publishers Clearinghouse sweepstakes. Unfortunately, these don't sound like the most stimulating jobs either.
None the less, mostly due to savvy real estate investments and partnerships, the octogenarian has long been considered to be one of the richer men in Hollywood. As one of the largest landlords in Malibu, some reports state his net worth hovers around $200,000,000. Not bad for a man who began his career as a bingo caller and carnival barker.
After a pipe burst in July of 2001 and flooded the den of McMahon mansion, toxic mold was discovered. Soon it had spread through the heating and air conditioning ducts contaminating everything in it's path. A heated battle with the insurance company ensued and eventually, after much wrangling, the McMahons were awarded $7,200,000 to gut and rebuild the interior of the home. Your Mama is certainly glad the McMahons were able to get the mold situation under control and their house rebuilt. But we do question some of the aesthetic choices that were made in the process.
Who know Ed McMahon had such “interesting” and eclectic taste in home decor? Or does all this reflect the taste of McMahon's third wife Pam? We can appreciate the leopard print club chairs in the living room, but that perverse horse figurine on the floor upsets Your Mama greatly. We see these horse things up in rich people's houses all the time and we would like to know who is perpetrating the presence of this sort of visual vomit. Who? If we knew who you were, we'd slap you upside the head and make you swear on your mama's life not to put these equine pieces of shit up in people's houses anymore.
We can understand and appreciate comfortable seating for screening movies and watching that hilarious program Top Design on the Bravo. But Your Mama can not tolerate a Lazy-Boy recliner. Ever. Not even, as it is here at the McMahon mansion, if it is upholstered in the same buttery brown leather as the alarmingly large sectional sofa.
(On a side note, are the children watching Top Design on the Bravo? If not, you should. The show itself is fun enough, but the reason we watch is to see in what sort of outfit and hair-don’t the famed and extremely talented interior designer Kelly Wearstler will swan around. Last night we were treated to a knee length beaded gown and an astonishing crimped situation up on her head. This gorgeous bitch looked like she stuck her hand right up in a light socket.)
Anyhoo, if the children look close at the photos, you'll note the McMahons have curiously chosen to eliminate molding. Could this be because after their terrific troubles with toxic mold, they don't feel comfortable having any item with the word “mold” in the house? Your Mama isn't always a huge fan of moldings ourselves, but some architectural styles do indeed require them to appear finished. And if you're going to be calling your mansion Mediterranean, you better have some big ass moldings up at the ceiling and down on the floor.
Out in the back yard we are absolutely mortified by the cheap and dangerous looking jungle gym. Your Mama feels that if you are worth anywhere near $200,000,000 you should provide the grand kiddies a more substantial and stable jungle gym. Additionally, because this back yard hangs over Mulholland Drive, Your Mama is concerned the children's ears could be damaged from the excessive road noise. We can only hope the McMahons keep a bowl of ear plugs next to the French doors to the backyard.
The listing agent over at Hilton & Hyland has provided an extensive virtual tour that will be available online until the house sells.
.
Only 2 things it could be....PRICE or CONDITION.
This was price...and he was going into foreclosure along with it. He had it leveraged and was upside down...plus he owed back payments, including missing real estate tax escrows.
It should be noted here that any monetary loss the bank experiences in the short sale scenario is handled this way:
The mortgagee (seller) gets a 1099 at year end for the amount forgiven. They must show it as INCOME...and it is taxable.
Congress worked out this sweet deal for the banks whereby the mortgage company takes the loss as a business expense on their “schedule C”...and the taxpayer has that sum added to his annual income as ‘miscellaneous income’.
On July 30, 2008, McMahon’s financial status suffered another blow. According to Reuters, McMahon failed to pay divorce attorney Norman Solovay $275,168, according to a lawsuit filed in the Manhattan federal court. McMahon and his wife, Pamela, hired Solovay to represent Linda Schmerge, his daughter from another relationship, in a “matrimonial matter,” said Solovay’s lawyer, Michael Shanker.
******
Ed McMahon is being sued by another creditor. Westmoore Lending of Huntington Beach, Calif., sued McMahon for more than $275,000 it says the pitchman and former “Tonight Show” sidekick owes from a 2006 loan.
A growing number of creditors say McMahon and his wife Pamela owe them money. The other actions have targeted debts incurred for the couple’s Beverly Hills home, prescription drugs, credit card debt and attorneys’ fees for his daughter’s divorce.
and an attempt by Citibank to recoup a nearly $200000 loan
Cigareets and Whiskey and Wild Wild Women They'll drive you crazy they'll drive you insane
Didn't he have a bad mold problem in the house? Seem to remember him suing somebody over that.
Thank you Donald,real class for this one.:)
TMZ...
Now Citibank has filed suit against the foreclosure-plagued star, alleging he owes them roughly $180,000. As we first reported, Ed’s wife Pamela’s out of control spending is gonna put him on the streets. Am Ex says he owes them nearly $750k. Time to cut the credit cards, Ed!
ROFL! I was waiting for that pic and appropriate caption. Outstanding. :)
I agree with you. :)
July 2008
Ed McMahon sued a hospital, two doctors and an investment tycoon Friday over a neck injury he has said has left him unable to work, a circumstance he has blamed for his recent money woes.
The lawsuit seeks an unspecified amount, claiming negligence, battery, elder abuse and intentional infliction of emotional distress. It was filed in Los Angeles Superior Court against Cedars-Sinai Medical Center, two doctors, and the owner of a home where he says he fell in March 2007.
Also named in the lawsuit is Robert Day, who owns an investment firm and has been on Forbes’ list of richest Americans in previous years, and his wife. McMahon claims a ramp-like staircase where he attended a dinner party was “unsafe” because it was poorly lit and lacked handrails.
“Maybe Mr. Trump is just doing a nice thing. If so, blessings on him.”
I agree...have read some examples of Mr. Trump’s kindnesses to people and this is just one more example, albeit with a public personna...When a person loses everything as in a fire or a personal tragedy they are no different from the beggars who lined the streets asking for blessings from good St. Francis, himself the poorest of the poor..Thanks Mr. Trump for your kindness to another good man..
Thank you EveningStar.Your fired:)Only kidding most people don’t get my jokes.:)
Thanks, I had to laugh at that one myself.
Heeeeeeeeeeeeeeres a cardboard box!!!
Mr. Davis, the real estate agent, said that there had been no urgency to sell until a few months ago, and that he had been selective in showing the property. One factor, he said, was the need to respect his clients’ privacy; but another, “for quite some time,” was the need to avoid the paparazzi camped out outside the gate.
“Everybody was following Britney Spears, and we thought a lot of people were trying to get into the community” by posing as potential buyers, he said, adding that Ms. Spears’s home is now also for sale, and that the scene has “simmered down.”
The McMahon house, full of Hollywood pictures and memorabilia and decorated by Mrs. McMahon, is listed as a “celebrity estate.” A well-publicized mold problem, which led to a $7.2-million insurance settlement, has been fixed, Mr. Davis said.
But real estate agents in Beverly Hills say that an inability to sell in two years point at a too-high asking price. Originally $7.6 million in 2006, the price was lowered several times, to $5.7 million in January, then climbed to the current $6.5 million. (Mr. Davis said the increase was needed to cover Mr. McMahon’s debt.)
“It’s not the market or Britney Spears,” said Drew Mandile, an agent for Sotheby’s International Realty in Beverly Hills, who brought clients to see the house in 2006. “Two years means you’re a stubborn person and you refuse to face the reality of the value of the home.”
Mrs. McMahon offered another explanation. “Ed and I prayed that we wouldn’t sell it,” she said, admitting that they don’t really want to move.
Since his neck injury last year, in a fall he didn’t want to discuss, Mr. McMahon, who has four grown children (another son died) and two adopted children, has worked only on his weekly show, “The Ed McMahon Show,” for the USA Radio Network, which he tapes from his home office.
Where in the world is Natalie Wood when you need her (obscure reference to late-night early morning commercials for reverse mortgages on AMC...)
(Think maroon 1949 Ford convertible)
Can anyone post a picture of this Pamela so that an impartial jury of FReepers may determine if Ed’s money was well spent?
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