NOOO! Ed McMahon’s Home Not Saved By Trump

In yet another follow-up to a previous Haute Living blog, Ed McMahon’s mansion has fallen out of escrow and is back on the market. The “Tonight Show” veteran, facing foreclosure after defaulting on a $4.8 million Countrywide loan (McMahon says he couldn’t keep up with payments after a neck injury made it impossible to work, and because his finances were drained by “things” like divorce payouts), was trying to sell his home for $4.6 million, and two weeks ago he found an unnamed buyer. That buyer reportedly needed to qualify for financing to close the deal. The Donald, of course, had earlier megaphoned to the world his desire to pay cash for the house and then lease it back to McMahon, so that the Star Search legend could continue to live there; effectively creating a “Bizarro Jerry” scenario of Trump becoming McMahon’s landlord-this has VH1 reality show written all over it. However, a mystery buyer (Carmac the Magnificent?) stepped forward with, apparently, a better offer for the 85-year-old-but one that required financing. Now that the financing has fallen through, Trump may yet wind up being McMahon’s knight in shining armor, as he’s still interested in helping out an icon in need. Trump spokesman Michael Cohen has told CNBC, “We are currently working with the broker who is coordinating the efforts of the various lenders that have interest in the McMahon property. They’re hoping to come to terms soon. The window of opportunity is very truncated. We’re working within those time constraints.” On a positive note for McMahon, the Human Laugh Track, who for decades has worked as a pitchman, has recently resumed that role, appearing with comedian Jimmy Kimmel to advertise Pontiac vehicles.

Via Realestalker