Heeeeeeeere’s Your New Landlord!
By Craig on Aug 22, 2008 in In The News
This is just crazy. Have you heard this story about Ed McMahon being in foreclosure? Have you also heard that Donald Trump swooped in at the last moment to rescue Ed McMahon from foreclosure?
The big question is, how does a man who has made as much money as Ed McMahon wind up in foreclosure? Poor money management? Greed? Lifestyle out of control? Seems to me that even at 85 years of age, Mr McMahon must have thought he would continue to bring home the bacon forever.
Why would an 85 year old man have a FOUR MILLION DOLLAR mortage? Someone please shoot me if I ever have a mortgage at that age! Seriously, look me up on this blog, and come shoot me. At 85, Ed McMahon is still a slave to the bank. How sad.
The Donald’s rescue plan however has a funny twist. I like Donald Trump. I think he’s shrewd, I think he’s brash, I think he’s one heck of a marketeer - but lest we all we believe there wasn’t a buck to be made by getting his name plastered all over this high-profile story. One, it keeps his name in the news. Two, most lemmings will believe The Donald is just being a “good-guy.” Three - he makes a boatload (chump change for him) when Big-Ed joins Johnny at the desk in the sky.
Brilliant. Except there might be a fly in the ointment. (By the way Maryland readers - the deal Mr Trump wants to make with Ed McMahon would be completely against the law in Maryland. Can you tell me why?)
The listing agent for Ed McMahon’s heading-for-foreclosure house in Beverly Hills said yesterday that the property is now in a “multiple offer situation.”
Last Thursday, billionaire developer Donald Trump announced that he had made the lenders an offer and expected to be able to buy the house and lease it back to the onetime “Tonight Show” sidekick. But it now appears that Trump has competition.
Alex Davis of Hilton & Hyland, Beverly Hills, said a second buyer who wishes to remain anonymous is interested. The junior lien holders have agreed to a short sale at $4.6 million, Davis said, and “that’s the number we need to get to.”
In a statement yesterday Trump, who said last week he wanted to help McMahon, said that if there was another potential buyer he wished them luck.
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2 Comment(s)
By Tony Orlando on Aug 22, 2008 | Reply
I finally decided to write a comment on your blog. I just wanted to say good job. I really enjoy reading your posts.
By Craig on Aug 22, 2008 | Reply
Tony
That’s a rather famous name you have there. But you could have been named George, and I still would have been 100% flattered that you took the time to post such a kind comment.
Thanks very much!