Foreclosures of the rich and famous
In the "it could happen to anyone" category: Ed McMahon, best known for his years as a sidekick on "The Tonight Show" and pitchman for the American Family Publisher's sweepstakes, is in danger of losing his home to foreclosure.
Reuters reports that McMahon is in talks with his lenders, who in February filed a notice of default that said he was $644,000 behind on the Beverly Hills mansion:
The house has been on the market for about two years ...According to the National Association of Realtors, 14.5 percent or one in seven homes for sale across the nation in April were the result of foreclosure.
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