OT Ed McMahons foreclosure | Arthritis Information

 

This is totally off the wall but I'm watching Larry King about Ed McMahons home foreclosure. I'm sorry, but I have a hard time feeling sorry for these people. His house is for sale for 5+ million, has not sold in 2 years and now they may have to down size to a condo. I just don't get it! I feel terrible for all the people that are losing their homes but I smell a rat in this story.lorster2008-06-08 18:18:09He's over half a million in the hole; the house is worth about 5 million.

And no, I don't feel sorry for him.
It had a mold problem!!  With everything on the market these days why buy something with this kind of history. 

Well, I should not be so harsh, but they sat their in their diamonds and 500 dollar outfits and wants america to somehow feel sorry for them when there are people out there that are sick and hungry and in foreclosure because they cannot make ends meet or have had a devastating health problem. They got a 7 million dollar settlement from the insurance company for mold damage repair. Did they spend ALL of that money fixing the mold? For 7 million, they could have tore it down and rebuilt it. The math just does not add up as far as I'm concerned.

million????? Yowza!!!

You know, he also broke his neck and hasn't been able to work for 18 months. 

I didn't see the show and only read a little bit about his situation.  I was thinking that he's going through what a lot of people are only on a grander scale.  I felt sorry for him because he's an old guy.  Not time enough to start over.  Linncn. He got a 7 million dollar settlement. Why didn't he pay the thing off with that? Then tear the place down and sell the lot for millions. they owe more on the house than they originally paid for it.  They suffer from incredibly poor money management.  At his age it should not have mattered that he hasn't worked in 18 months.   Someone over 80 should have expected that something may happen health wise preventing him from working.   He should have been living in a paid for house with money in savings for contingencies. [QUOTE=buckeye]they owe more on the house than they originally paid for it.  They suffer from incredibly poor money management.  At his age it should not have mattered that he hasn't worked in 18 months.   Someone over 80 should have expected that something may happen health wise preventing him from working.   He should have been living in a paid for house with money in savings for contingencies. Most of the time when a rich person looses their home, it's because they just didn't pay what they should have on their loans etc.  Many, like him, go on vacations, buy new cars etc.  He makes a ton of money as a partner with publisher's clearinghouse, his loosing his house is a rich mans reason. Well, it's not like you can only feel sorry for one group or the other.  Sometimes rich people get in a bind for the same reason people with a normal amount of money do.  Poor planning or living beyond their means.  But to be facing a foreclosure and bankruptcy has to be a scary situation for anyone, no matter how high you're falling from.  Especially when you're like 100 years old.  It's not like he's guilty of a crime, unless being bad wth money is illegal.The young wives that he has had only married him for his money and if thinks otherwise then he is crazy. I am sure that they helped him spend it. Ok, I'm going to admit something here.  I'm a little rusty on my Ed McMahon trivia.  I didn't know he's had lot's of young wives.  I really don't know a whole heck of a lot about him beyond Johnny Carson and Publisher's Clearing House.   Maybe he's a big jerk.  Also, is he asking for some sort of special break because of his "celebrity"?  Cuz if he is, I don't think he should get it.  I really just thought he was an old guy in a jam.  At 85 he should be retired and enjoying his millions and whats left of his life
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