In the latest celebrity foreclosure case (and probably the oddest one), the 7,013-square-foot Beverly Hills, Calif. home of Ed McMahon, the 85-year-old former sidekick to the late Johnny Carson, reportedly is facing foreclosure.The Wall Street Journal justbroke the storytonight that a unit of Countrywide Financial Corp. is proceeding to foreclose on McMahon's house, at 12000 Crest Court in the gated Summit neighborhood inside the Beverly Hills postal area. McMahon's house has long been on the market, aswe reportedback on March 25, 2007. At that time, the house had been reduced from $6,999,000 to $6,750,000 after previously having been on the market for $7.7 million. It's now available for $6,250,000. McMahon purchased the house in 1990 for $2.6 million, according to public records.
The bigger question is, how on earth could Ed McMahon be in jeopardy of losing his house to foreclosure?Wikipedia saysthat McMahon was said to have been worth more than $200 million in the 1990s because of extensive real estate holdings, although that was reported to have declined somewhat because of divorce settlements and the nationwide decline in real estate. Built in 1989, McMahon's house has decorative fireplaces, a master suite that overlooks the yard and the canyon, a pool, a spa, a lanai, a library, a sauna, a sound studio and canyon-to-ocean views, according to listing information and a Los Angeles Times article from 2006. We don't believe in jinxes (honestly, we don't), but this house does have a snakebitten feel to it. In addition to the foreclosure action, McMahon previously had a horrific experience in the house in July 2001, when a water pipe burst, flooded the house's den and damaged McMahon's cherished memorabilia from his long TV career. Mold then appeared in the house's den and spread through the house's heating and air conditioning ducts into McMahons bedroom, into closets and even underneath the Jacuzzi in the master bedroom. The house then was gutted, and a $20 million lawsuit that McMahon filed in 2002 against his insurance company, insurance adjusters and several environmental cleanup contractors eventually was settled out of court for a reported $7.2 million. Recall that baseball player Jose Canseco recently had his house in Los Angeles' Encino area foreclosed, aswe reportedon May 2. Check out an online listing sheet for the house -- complete with photos --here.