Donald Trump reportedly has agreed to purchase Ed McMahon's 7,013-square-foot mansion in the gated Summit neighborhood in the Beverly Hills, Calif. postal area, which has been in foreclosure as it has been on the market most recently for $4,600,000. The Los Angeles Times' Ann Brenoff this afternoon broke the story that Trump agreed to buy the house from the lender, a unit of Countrywide Financial, for an undisclosed amount (Brenoff wrote that 'details of the deal are still being ironed out') and let McMahon, 85, keep living there. In early June, the Wall Street Journal broke the news that McMahon's mansion, which is at 12000 Crest Court in the Beverly Hills postal area, was headed toward foreclosure. We weighed in ourselves on the news on June 4, which surely stunned Americans who had assumed that the former sidekick to Johnny Carson had to have retired with millions of dollars.

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Brenoff reported today that McMahon had had about two weeks to go before he would lose the property. Things were so dire that McMahon's listing agent flew to New York over the weekend to make a personal appeal to Trump, she reported. McMahon's house first came on the market in early 2007 for $6,999,000. Over time, he has reduced its asking price to $4,600,000. Check out an online listing sheet for Trump's house -- complete with photos.