Ed McMahon faces Countrywide foreclosure
Filed under: Countrywide Financial (CFC), Housing
With Jose Canseco firmly established as the least likable foreclosure victim, Ed McMahon might be the most sympathetic of the celebrity foreclosure candidates. The Wall Street Journal reports (subscription required) that long-time Johnny Carson straight man Ed McMahon “faces the possible loss of his Beverly Hills home to a foreclosure action initiated by a unit of Countrywide Financial Corp. (NYSE: CFC).”
As of February 28th, McMahon was $644,000 in arrears on a $4.8 million loan backed by the home. The six-bedroom home has been on the market for 2 years but the current price reduction hasn’t attracted a buyer.
Just when you thought Countrywide couldn’t sully its reputation any further, the company might take Ed McMahon’s home. And it gets worse. According to his spokesman, the 85-year old hasn’t been able to work because he broke his neck in a fall 18 months ago.
What’s next? CEO Angelo Mozilo accidentally sending a rude emai to a borrower who had the nerve to contact him in search of help? Oh wait, he already did that.
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