Real Estate Realist RSS

An honest look at the Real Estate, Credit and Economic landscape in the U.S. and around the World.

Welcome back!

Links

  • BransonREAC
  • Angry Bear
  • Appraisal Scoop
  • Bureau of Economic Analysis
  • Bill Cara
  • Bureau of Labor Statistics
  • Calculated Risk
  • CNN Money
  • Congressional Budget Office
  • Financial Armageddon
  • Foreclosure Pulse
  • Global Economic Trend Analysis
  • Housing Doom
  • iTulip
  • LA Land
  • Market Watch
  • NYFed Dynamic Mortgage Maps
  • Nouriel Roubini
  • Peter Schiff
  • RealtyTrac
  • Shadow Stats
  • The Big Picture
  • The Economist
  • The Housing Bubble
  • The Street.com
  • The Street Light
  • The Telegraph - Pritchard
  • USA Today Real Estate Front Page
  • WSJ Developments
  • Wall Street Mayhem
  • Google Finance
  • Google News
  • Yahoo News
  • Random

    Mobile

    RSS

    Contact

    Archive

    Jun
    4th
    Wed
    permalink

    Ed McMahon, the longtime sidekick to television star Johnny Carson, faces the possible loss of his Beverly Hills home to a foreclosure action initiated by a unit of Countrywide Financial Corp. Howard Bragman, a spokesman for Mr. McMahon, said late Tuesday that his client is having “very fruitful discussions” with the lender and hopes to find a resolution. It isn’t clear whether that would allow the 85-year-old Mr. McMahon and his wife, Pamela, to remain in the six-bedroom home. A Countrywide spokeswoman said the lender couldn’t comment in such cases “due to privacy issues.”

    Mr. McMahon, a jovial fixture of American television for decades, is one of the most prominent people caught up in a wave of mortgage defaults that has devastated low-income areas, suburbia and even a few posh gated communities, such as the one where the McMahons live. U.S. Rep. Laura Richardson, a California Democrat, recently lost a home in Sacramento to a foreclosure. Rep. Richardson didn’t respond to requests for comment.