Well what do you know? It looks like Donald Trump has stepped up to rescue Ed McMahon from foreclosure. And none too soon, it appears.
We saw in the LA Times today that Trump has agreed to buy the McMahon home, and he’ll allow McMahon and his wife to continue to live there. As we mentioned just a couple of days ago, McMahon had slashed his home’s asking price in hopes of avoiding imminent foreclosure.
And it appears he just may have dodged that bullet.
Trump said he didn’t really know McMahon, but grew up watching him on TV. He plans to buy the home and then lease it back to McMahon. Um, that’s great, Donald. Really nice of you. But if McMahon hasn’t been able to work for the last 18 months due to a neck injury, and is over $644,000 in arrears on his mortgage, how in the world is he going to lease his beloved home from you?
Just saying.
The actual details, including purchase price, are still being worked out. According to the Times, McMahon’s listing agent actually flew to New York to personally appeal to Trump. We guess it worked.
We’re actually quite relieved that this situation looks to be resolved in a favorable manner. I grew up watching McMahon on the Tonight Show, and later I even watched him on Star Search (shut up). And who wants to see an 85-year-old man and his wife booted into the streets?
McMahon’s 6 bedroom, 5 bathroom house has been on the market for almost two years. They kept dropping the price gradually, hoping to attract a buyer.
