According to the Associated Press, Ed McMahon is fighting foreclosure on his Beverly Hills mansion. McMahon, most recently known as the spokesperson for the American Family Publishers’ sweepstakes, reportedly owes $644,000 on $4.8 million in mortgage loans.
At 85 years of age, McMahon became a household name back in the day as Johnny Carson’s sidekick on The Tonight Show. McMahon was also the host of pop-culture TV talent show Star Search during the 1980’s.
February 28, Countrywide Financial Corp. filed a default notice with the Los Angeles County Recorder’s Office, on the six bedroom, five bathroom, hilltop gated community—The Summit, currently listed for sale at $6.25 million. 
Howard Bragman, speaking on McMahon’s behalf, says McMahon is in negotiations with Countrywide.
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Oh my. If the mortgage crisis can get Ed McMahon, then nobody is safe.
True that. By the way, great blog, i think i’ll be around for a while
This blog shows even a man with a lot of money can fall into foreclosure. Well this also teaches a lesson and I will sure learn from his mistake.
Even the richest of the rich cannot deny the crisis.
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This only shows that we should all be a bit thrifty nowadays. It is not a guarantee that if we're rich, the crisis could no longer affect us. Whether we're rich or not, the best way is to prepare for it.