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Countrywide sends Ed McMahon his foreclosure notice for his home

June 4, 2008

mcmahoned

This could be PR disaster for CountryWide, as Ed McMahon is 85 years old… and this is how Countrywide treats him.

LOS ANGELES (AP) - entertainmentminute Ed McMahon, who for decades appeared as Johnny Carson’s sidekick on “The Tonight Show,” is fighting to avoid foreclosure on his multimillion-dollar Beverly Hills home, according to published reports.

The former “Star Search” host was $644,000 behind on payments on $4.8 million in mortgage loans when a unit of Countrywide Financial Corp. filed a default notice Feb. 28 with the Los Angeles County Recorder’s Office, The Wall Street Journal first reported late Tuesday.

McMahon, 85, has been a pitchman for the American Family Publishers’ sweepstakes.

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Written by TheFounder · Filed Under Advertising Agency News 


Comments

  • Robbie Landry

    Of course they should foreclose on his property. He took out a loan and cannot pay it. They are a business and that is the recourse you have as a mortgage lender.

  • Robbie Landry

    Of course they should foreclose on his property. He took out a loan and cannot pay it. They are a business and that is the recourse you have as a mortgage lender.

  • http://www.adirondackbasecamp.com/ TourPro

    Is it better PR if he is let off the hook because he was a sidekick and fronted a sweepstakes?

  • http://www.adirondackbasecamp.com/ TourPro

    Is it better PR if he is let off the hook because he was a sidekick and fronted a sweepstakes?

  • Peter

    Welcome to the real world, Ed.

  • Peter

    Welcome to the real world, Ed.

  • Charles

    I feel a bit sorry for him, but if the house is worth almost five million, he could probably sell it, pay off the mortgage and still have what to most of us would be a lot of money.

    No reason to “let him off the hook because he was a sidekick and fronted a sweepstakes,” but maybe some reason for someone to help him because he was a fighter pilot in WWII and Korea.

  • Charles

    I feel a bit sorry for him, but if the house is worth almost five million, he could probably sell it, pay off the mortgage and still have what to most of us would be a lot of money.

    No reason to “let him off the hook because he was a sidekick and fronted a sweepstakes,” but maybe some reason for someone to help him because he was a fighter pilot in WWII and Korea.

  • can you think

    Mr. Ed McMahon is an American Icon and a senior citizen don’t you think that Countrywide could negotiate a deal with him that allows him to live in the home until his death and pay him for his equity up to the time of his first late payment and upon 1 year after his death resale the home for a greater rate. people amaze me have you never heard of being proactive and doing unto others (good) as you would have others do(good) unto you - this is an unbreakable law. Or maybe the CEO of Countrywide would have someone do the same to their Loved Ones.

  • can you think

    Mr. Ed McMahon is an American Icon and a senior citizen don’t you think that Countrywide could negotiate a deal with him that allows him to live in the home until his death and pay him for his equity up to the time of his first late payment and upon 1 year after his death resale the home for a greater rate. people amaze me have you never heard of being proactive and doing unto others (good) as you would have others do(good) unto you - this is an unbreakable law. Or maybe the CEO of Countrywide would have someone do the same to their Loved Ones.

  • http://www.tribbleagency.com/?p=5303 Ed McMahon dies at 86 | Tribble Ad Agency : The Advertising Agency of Record

    [...] Johnny!” became iconic, has died. He was 86. Last year, Countrywide Mortgage attempted to foreclose on Ed McMahon’s home causing a public outcry. tweetmeme_url = [...]

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