Ed McMahon, Wife Have No Plans To Move From Home

Ed McMahon can stay put. Publicist Howard Bragman confirmed Thursday that the TV icon and his wife have no plans to move from their home, which has been facing foreclosure for nine months. Bragman said he doesn't have details about the deal that's allowing the 85-year-old McMahon to stay, but added: "They ain't leaving."

Public records show there was a series of transfers of the loans last month on McMahon's house, which is in a hilltop gated community that's also home to Britney Spears.

A Southern California company, Foreclosure Trackers Inc., has taken credit for brokering the deal and say they plan to negotiate a better deal for McMahon, 85.

Robert Lee, the company's chief executive officer, said earlier his year that his aim was to prevent McMahon from having to move.

"I don't want their home," Lee said. "I want to make sure the McMahons can keep their home."

Public records show Countrywide Financial Corp., which issued a default notice on McMahon's home earlier this year, transferred the loan to a company called DCI Technology Holdings. A subsequent filing indicates the loan was transferred to a limited liability corporation recently established by a Northern California business lawyer, Peter Liebow. (Liebow has not returned calls seeking comment.)

While Foreclosure Trackers' name does not appear on the transfer documents, some of those familiar with the deal say Lee and the company acted as middlemen.

"Foreclosure Trackers was involved in helping the transaction between Countrywide and a third party," said Jumana Bauwens, a Countrywide spokeswoman.

She said the company no longer has any control over foreclosure proceedings. "We're happy for Mr. McMahon," she said.

The former "Tonight" show sidekick for Johnny Carson has faced a series of money problems since he broke his neck in a fall last March. He has been sued over unpaid loans and legal fees for his daughter's divorce, and has sued a Los Angeles hospital that he claims failed to diagnose his broken neck and botched two surgeries.

For months, several people, including Lee and Donald Trump, have pledged to help McMahon and save his house.

Trump stepped aside from his bid to buy McMahon's home when Lee contacted him months ago and said he could work out a better offer, said Michael Cohen, an executive vice president with the Trump Organization and Trump's special counsel.

With the news this week that McMahon's home appeared safe, Cohen said Trump was satisfied.

"Mr. McMahon remains in his home," Cohen said. "Clearly the efforts of everybody paid off."

In a time of bleak financial news, Bragman expressed hope that the resolution to McMahon's situation served as a good omen. "We hope every other American in trouble has the same experience," he said.

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  • by Sam Location: Williamston on Dec 23, 2008 at 07:45 AM
    This proves another reason why the United States is not the greatest country in the world. The only way you can be there with Ed these days is if you can play politics with someone like Donald or just break into a rich person's mansion and safe and just take millions of dollars in just straight cash. That would be really cool if someone did that and completely got away with that. Then just basically hide the money to where none of your friends know how much you have.
  • by Concerned Location: NC on Dec 19, 2008 at 06:49 PM
    It's good news that he's not being put out of his home but who's going to help the working class citizens.
  • by Chrissy Location: Jacksonville on Dec 19, 2008 at 03:17 PM
    I'm sorry but are you serious??! Why should be happy for a Hollywood/TV celebrity to stay in his MILLION dollar mansion instead of moving down to REALITY like the rest of the American people?! None of us have Donald Trump knocking at our door offering to help us out and buy our homes!! I'm sorry but this is sickening friends are friends but I know my friends as great as they are still suffer like me and can't bail me out with their BILLIONS of hidden money. UGH this is a poor story to run at a time like this I think. Just my opinion but look at those who move out of a SINGLE FAMILY HOME/APARTMENT into a flippin' shelter!? *sighs* I agree MADDOG...IT'S MESSED UP =(
  • by MADDOG Location: GREENVILLE on Dec 19, 2008 at 07:49 AM
    Lets worry about Ed but don't worry about the working people.LET THEM MOVE. The U.S.A. is so messed up
  • by TJ Location: Eastern NC on Dec 19, 2008 at 05:59 AM
    It's a shame that the others in foreclosure don't have the same conditions as Mr. McMahon.
  • by WHOS FAULT??? Location: GREENVILLE on Dec 19, 2008 at 05:21 AM
    Ed you're 85 have millions of dollars and still dont have your house paid off?
  • by Anonymous on Dec 19, 2008 at 05:21 AM
    after all of those years in showbiz he has nothing to show for it

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