at 22:52 on August 14, 2008, EDT.
By THE ASSOCIATED PRESS


In this July 24, 2007 file photo, Ed McMahon arrives at the premiere of The Simpsons Movie in Los Angeles. THE ASSOCIATED PRESS/Matt Sayles


BEVERLY HILLS, Calif. - Donald Trump will soon be Ed McMahon's landlord.

Trump announced Thursday he would save the television personality's Beverly Hills mansion from foreclosure by buying it for an undisclosed amount and leasing it to McMahon.

The developer told the Los Angeles Times he doesn't know McMahon personally, but acted out of compassion because helping out "would be an honour."

McMahon, 85, who was Johnny Carson's sidekick on the "Tonight" show for three decades, has not worked for about 18 months because of a neck injury. He defaulted on $4.8 million in mortgage loans with Countrywide Financial Corp.

McMahon's spokesman, Howard Bragman, told The Associated Press that paperwork on the sale had not been completed but that McMahon was "very optimistic" the deal would go through.

"When I was at the Wharton School of Business I'd watch him every night," Trump told the Times. "How could this happen?"

McMahon bought the six-bedroom, five-bathroom, 7,000-square-foot house in January 1990. The home was listed at $4.6 million last weekend - down from a peak price of $7 million.


©The Canadian Press, 2008


Awwwww

I have a better respect for TheDonald now. He sure has a heart.

Thats nice and all but when is he going to buy us all houses

kcwm said:

That would be nice

Thats really generous of Mr. Trump.

So he's his sugar daddy?

that's nice....hope everything works out for the better!

I just read this and was glad. Finally someone did the right thing. This is gossip I can get behind.

I would be more impressed, however if Mr. Trump also opened one of his apartment complexes to help some displaced families of this housing crisis. At least Ed had every opportunity provided to him, but he got snowed by that young poon.

That was a great thing for him to do. It's nice to see Donald's not all spit and venom.

that's nice

Mars23 said:

If we can get all those banks and mortgage companies to sell their distressed loans to me, no one will ever have to lose their home.

i would've had more respect for this action if he would've remained anonymous. but of course he has to make a huge production out of it.

magnificentsynthesizer said:

i was thinking that too
plus, isnt that just trump buying a great property at a great price?

i mean no disrespect, but mcmahon is no spring chicken.... what happens when he can no longer live there - who gets the house then?


i am glad that he gets to stay in his home, thats nice... but it works out better for trump in the end.


actually, if mr trump just wanted to help folks stay in their houses, why not seek out other families who are in need and do the same for them? im sorry guys, maybe its my mood today, but i think trump gains a lot for doing this

How in the hell can this house NOT be paid off. McMahon made a substantial amount of money in his career.

Graycap23 said:

When you make a lot of money, you spend a lot of money. After he broke his back he wasn't able to work and keep up with his bills.

It amazes me how many people who make money NOW do not plan for the future and save. I mean look at Michael Jackson! It baffles me!

Graycap23 said:

He got married.

magnificentsynthesizer said:

but isn't blowing his own horn what donald trump does for a living?

magnificentsynthesizer said:

I agree.

2elijah said:

Yes, I agree too and I also think that Trump should've just paid the damn house and left it in Ed's name. Letting him live there kind of makes me puke to be honest. Trump has oodles of money, what would it really matter to him if he bought the house and just gave it to Ed?

Anxiety said:

yes, i'm aware of this. BUT damn, now it's public knowledge that Ed McMachon is officially Donald Trump's bitch.

Mars23 said:

lol....that will do it. Especially in a community property state like Cali.

kcwm said:

Damn that, I want The Donald to buy Orleans Parish & rebuild everything. THAT would be newsworthy.

Graycap23 said:

Then TheDonald just bought his new wife a house, cause McMahon's wife ain't gonna get it.

Mars23 said:

Amen!!

CarrieLee said:

Yep, poor money management.

kcwm said:

TonyVanDam said:

Yup.