Celeb How Bad Is the Mortgage Crisis?
posted by June 4 at 8:57 AMon
Ed McMahon, the longtime sidekick to Johnny Carson on “The Tonight Show,” is fighting to avoid foreclosure on his multimillion-dollar Beverly Hills estate.
McMahon defaulted on $4.8 million in mortgage loans with a unit of Countrywide Financial Corp., which filed a notice of default in March, according to ForeclosureRadar, a company that sells default data pulled from public records.
The 85-year-old pitchman for various products, including American Family Publishers, is the highest-profile person to be caught up in the nationwide real estate downturn and mortgage crunch.