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New deal should allow McMahon to keep home

Sept. 9, 2008 at 3:35 PM   |   Comments

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LOS ANGELES, Sept. 9 (UPI) -- A California-based foreclosure resolution firm said Tuesday it is working out a deal with Ed McMahon that will save the TV star's home from foreclosure.

Robert Lee, CEO of Foreclosure Trackers, said he intends to end the "emotional roller coaster that McMahon has experienced ever since the Notice of Default was filed on his Beverly Hills home, threatening foreclosure and financial ruin."

"After several failed attempts by well-meaning individuals to help save the TV icon's estate, enough is enough," Lee said in a statement, adding that he has offered McMahon a solution that should enable him to stay in his home and reduce his overall debt.

Lee, who is now waiting for Countrywide to accept the offer, said Foreclosure Trackers has already conducted its due diligence and can close the deal in 48 hours if Countrywide accepts.

"Ed McMahon is a Hollywood icon and represents the epidemic of foreclosures that is sweeping the nation and now hitting even the rich and the famous. Finding a buyer for Ed McMahon's home does not solve his problems -- it leaves him and his wife without a place to live. Foreclosure Trackers is on a mission to save one home at a time, and we're going to do that for Ed McMahon by purchasing the loan, and allowing him to stay in the home," Lee said.

Topics: Ed McMahon
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