Ed McMahon appeared on Larry King Live Thursday night. He was there to explain how a millionaire could have his house foreclosed on. Ed said:

"I want to speak for the million people in America who now have foreclosure signs on their houses. If you spend more money than you make, you know what happens. A couple of divorces thrown in, a few things like that. It’s embarrassing, to say the least."

Ed’s current wife, Pam McMahon, added:

"Because you’re a celebrity, people think you have more than you have."

The injury, which McMahon says has kept him out of the workplace for 18 months, came in "a fall," and said, adding, "I don’t want to elaborate."

"It’s been tough," Pam said, and adds she is reduced to shopping the bargain bins at Target, "but somehow our marriage is strong." She also noted that her husband’s neck injury has been "a little tough on the sex life, too."

Is there a connection between Ed’s broken neck and sex? Viagra needs to hire him as a spokesman.

The Wall Street Journal reports that Ed McMahon (85) is $644,000 behind on payments on $4.8 million in mortgage loans. Howard Bragman, Ed’s spokesman, says Ed broke his neck 18 months ago, and has been unable to work since.

Ed has been trying to sell the house for 2 years, but with all the trouble Britney Spears has brought to the neighborhood, he has so far been unsuccessful. The current listing price is $6.25 million. Real estate Alex Davis, who has the listing, said:

"When we were trying to sell the house one time, there were about 100 paparazzi there."

The story behind the story is, that Ed had trouble with mold in the house a few years back. He sued and got $7.2 million, which is more than the current selling price. After the mold problem he put the house on the market, and hasn’t been able to sell it, which means it might not be Britney’s fault after all.