Trump to Become McMahon Landlord.

Donald Trump is offering to assist TV personality Ed McMahon in his foreclosure battle with Countrywide on his multi-million dollar house in Beverly Hills, California.

Trump stepped in when McMahon received widespread publicity over defaulting on his mortgage, causing McMahon’s lenders to file a notice of default. In February, McMahon was about $644,000 in arrears on the mortgage. The house has been on the market for more than two years with the asking price of $5.75 million.

The plan is for Trump to buy the six-bedroom, five-bathroom, 7,000 square foot house from the lender Countrywide, and then lease it back to McMahon. Trump told the Los Angeles Times that although he does not know Ed McMahon he grew up watching him on TV.

McMahon, 85, is one of the most high-profile individuals to be caught up in the housing downturn. He blames his financial problems on not having been able to work in 18 months after suffering from injuries due to a broken neck.

mcmahon-208x300 Trump to Become McMahon Landlord.donaldtrump1-203x300 Trump to Become McMahon Landlord.

  • No Related Post

    • No Related Post
bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark
tabs-top  banner ad


1 Comment »

  1. What a great post. I had heard something about the Donald being McMahan’s landlord. How funny!!

    comment-bottom

RSS feed for comments on this post. TrackBack URL

Leave a comment