8/25/2008

in

The television star has found a buyer for his nearly 6 million dollar home and avoids foreclosure.

Meghan Moynihan

Television star Ed McMahon has finally found a buyer for his home in Beverly Hills, California, and as a result, will avoid foreclosure on his six-bedroom, five-bathroom home, eFlux Media reports.  
  
While the name of McMahon's buyer was not divulged, the TV personality's representative, Howard Bragman, claimed that it was not Donald Trump, as was widely speculated. "It's a confidential deal, and the buyer wants anonymity, but I can tell you it is not Mr. Trump," Bragman revealed. He also joked that, "It's not John McCain," referring to the presidential candidate's statement this week that he was unsure of exactly how many properties he and his wife owned.  
  
Reports began circulating several weeks ago that Donald Trump was hoping to help McMahon by purchasing his home and then leasing it back to him. *Newsday* also reported it was Trump's understanding that the new owner would give McMahon no more than six months to evacuate the home.  
  
The 85-year-old McMahon has been reportedly trying to sell his $5.75 million home for about two years now. In addition, mortgage lenders filed a default notice in February after discovering that the television personality had more than $644,000 in unpaid debt.  
  
McMahon, however, claims that his financial problems came as a result of a neck injury he suffered 18 months ago, preventing him from working.