Donald Trump Did not Buy Ed McMahon Home

A private buyer has agreed to purchase the home of Ed McMahon. The selling price, and the name of the purchaser, will not be disclosed, because the buyer wants confidentiality. Donald Trump issued this statement:

"…The other buyer has signed a purchase agreement….subject to many contingencies including but not limited to a mortgage contingency. Mr. Trump clearly would not need a mortgage and would be capable of closing this transaction immediately. If the other buyer should be successful in this bid, Mr. Trump truly hopes that they do the right thing by Ed McMahon and not have this 85-year-old American icon removed from the property."

Howard Bragman, McMahon’s spokesman, said McMahon and his wife, Pamela, will move out of the home when the sale is complete.

The sale of his home must be a huge relief for Ed. Hopefully he’ll be able to resolve his many other debt related lawsuits as well.

Donald Trump Buys Ed McMahon Home Let’s Him Live There

Donald Trump will purchase Ed McMahon’s (85) home in Beverly Hills, and lease it to Ed so he has a place to live. Trump said recently:

"When I was at the Wharton School of Business I’d watch him every night. How could this happen?"

Most reports blame Ed’s wife for spending Ed out of a house.

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.

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.

It’s a buyer’s market.

When Ed made his financial problems public, this is the kind of help he was hoping to get.

Ed McMahon Sued by Pharmacy

Ed McMahon can’t catch a break these days thanks to his big spending wife Pamela McMahon. Mickey Fine Pharmacy of Beverly Hills, filed a lawsuit last Friday in L.A. County Superior Court. The Pharmacy says McMahon owes them about $8200.

Pamela needs to get a job, and start helping pay off the debt she helped to create.

Citibank sues Ed McMahon for Credit Card Debt

We’ve told you before that Ed McMahon’s wife is rumored to have racked up a debt of $750,000 in credit card bills, and now Citibank has sued Ed for at least $179,687 in damages as well as attorney’s fees on debt incurred within the past four years.

Pamela McMahon claims she’s been reduced to shopping in the Target bargain bins. She might be spending the couple into the poor house.

Ed told Larry King:

"If you spend more money than you make, you know what happens."

What do you do with a spouse who is spending both of you into bankruptcy? Does anyone have some advice, or suggestions that could help Ed?

Ed McMahon Begs for Money on Today Show

Ed McMahon went on the Today Show to once again tell his tale of how he is at risk to lose his multimillion dollar home. There have been some who have come out saying they are willing to help Ed.

There are rumors that Ed’s wife, Pam McMahon, has been spending the couple into the poor house by racking up over $700,000 in credit card (AmEx) bills alone. Pam made a statement saying she has been reduced to shopping in the bargain bins at Target. Uh huh, riiiiight.

Despite Ed’s claim that his money was mismanaged he hasn’t addressed rumors of his wife spending it all, or the fact he got $7.2 million for his current home that is in foreclosure, after suing over a mold problem with the house. Ed is selling the home for $6.25 million. It appears Ed already got more than he paid for the house, so what’s the real problem?