Comments on: The Latest Celebrity Foreclosure: Ed McMahon

By: Olivia

Olivia — Sat, 14 Jun 2008 08:19:02 +0000

Ugh… only spend money you actually have, Ed.

In response to a few of the posts here, I’m sorry, but no one’s selling “bad loans.”

If a loan company says you haev a flexible rate, and you sign it, YOU are responsible for paying that. Considering the government is forcing loan companies to go aginst the contracts, a TON of them are going belly-up. Why? They counted on the money that would come from those loans, otherwise they wouldn’t have been able to make the ultra-low rate promises to people. If you sign something, you should be bound to it. It’s not the insurer’s fault you don’t want to pay what you agreed to.

By: astrodex

astrodex — Mon, 09 Jun 2008 17:17:42 +0000

They didn’t have less money than I think they did. They just spent more money than they should have. No none needs a 4.8 million dollar house. Unless it is meant to house a family of 50 or more.

If I thought he was going to end up living in a ’78 Ford and eating at soup kitchens I would be able to feel sorry for him. He will come out the other end of this living in far greater luxury than most of us can dream of. Without having learned a thing, most likely.

By: Jimbo

Jimbo — Mon, 09 Jun 2008 10:45:43 +0000

Fixed Rate would have prevented this.

NEVER get a loan with a flexible (aka adjustable) payment plan or a balloon payment at the end. When interest goes up, your payment goes way up.

Always ask for FIXED RATE for the term of the loan.

By: MEC

MEC — Mon, 09 Jun 2008 05:05:25 +0000

Yep, real hard to have sympathy for a man who has made millions of dollars, and is now apparently broke.

I have never had a lot of money, and I have always said that if I ever do have a lot of money that I would invest it wisely and build businesses to make even more money so that I would never have to worry about not having enough ever again!

Guess my old one line joke on the way out the door (If Ed McMahon knocks on the door while I am gone, tell him I will be right back!) is no longer valid!

Damn! I feel like a true American Icon has just really let me down! Say it ain’t so, Mr. McMahon!

By: Capella

Capella — Sun, 08 Jun 2008 15:48:25 +0000

Oh noes, they are looking their 4 million dollar homes!
Now they will have to live in 2 million dollar homes!

By: tomtheman5

tomtheman5 — Sun, 08 Jun 2008 05:45:10 +0000

Must suck to lose your home at age 85.

(but I’m sure he’ll survive…)

)

By: ted

ted — Sat, 07 Jun 2008 15:06:20 +0000

From that picture, she’s either a lot younger than him, or they spent all his dough on her plastic surgery.

Pam McMahon – it almost rhymes.

Oh, yeah – he’s got money problems. Sucks, but hard to sympathize with him. A lot of people don’t make in their lifetime as much as he owes.

By: hark

hark — Sat, 07 Jun 2008 06:18:59 +0000

whatever. pandering crap-insurance-peddling relic, hack chucklehead sidekick, he’s lucky to be in the news for something other than his death. way way WAY down on the list of people I’d find sympathy for.

By: ~April

~April — Sat, 07 Jun 2008 06:10:54 +0000

Boo-frickity-hoo

By: TT

TT — Sat, 07 Jun 2008 05:35:18 +0000

In the end, they’re just entertainers and actors, show-people.

Nobody said they were smart business people – they’ve got people to do that bit.

Duh.

By: Jennifer

Jennifer — Sat, 07 Jun 2008 03:05:22 +0000

I think that labeling the foreclosure of McMahon’s home as a sign of how bad the mortgage crises has gotten is poor. McMahon has admitted that he failed to manage his money, and that he, spent more money than he made. This has nothing to do with the mortgage crises, which has in fact been caused by the sale of bad loans from unscrupulous lenders.

By: Miss Curly

Miss Curly — Sat, 07 Jun 2008 01:55:32 +0000

Boo hoo hoo. No sympathy from this neck of the woods. I’ll just bet they still drive expensive cars and have never EVER entered a Wal-Mart or a Family Dollar.

By: Woogie

Woogie — Fri, 06 Jun 2008 23:03:18 +0000

I find it both fascinating in a “wow, this crisis really is hitting regardless of status”… And then there’s the part of me going “HAHA! Rich bastards losing their homes!”

By: Alex

Alex — Fri, 06 Jun 2008 22:24:46 +0000

@chris:

You mistake Neatorama for a professional operation! Thanks for catching that – I’ve fixed it for ya!

By: Geekazoid

Geekazoid — Fri, 06 Jun 2008 22:15:33 +0000

I don’t see the big deal over Ed McMahon when former pro boxers like Evander Holyfield is reputed to be broke, having blown through hundres of millions of dollars he earned in the ring. That’s got to be way more than Ed has ever earned in his career.

It’s simple really with great earning come great responsibility to wisely spend and invest. Lots of these high profile types think the money stream will last forever until they realize otherwise.

But let’s face it it’s not like Ed is a typical American struggling with a foreclosure that has no finances or options that people he does.

By: Greg

Greg — Fri, 06 Jun 2008 21:53:37 +0000

For the amount he owes in back payments, I could buy a very nice house, and I live in the SF Bay Area.

By: Parker

Parker — Fri, 06 Jun 2008 21:36:25 +0000

You don’t just forget hundreds of thousands of dollars in bills..and when you’re Ed McMahon you also aren’t THAT busy. It’s not the end of the world if you live in a place that costs less than millions..give me a break. I hope he didn’t make that appearance hoping to garner sympathy or worse..donations.

By: chris

chris — Fri, 06 Jun 2008 21:23:28 +0000

Doesn’t anybody proof read their posts anymore? You’ve got the word “Georgia” just kinda thrown in there, it should refer to Evander’s Fayette County residence….

By: biltmore

biltmore — Fri, 06 Jun 2008 20:52:27 +0000

Maybe Ed should’ve been smart enough not to buy a $4.8 million dollar house in the first place.