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Quick Hits: Ed McMahon Gives Foreclosure No Stars


Brief scrutiny of today's headlines.

Of the two celebrities that live in the Beverly Hills housing development, The Summit, you'd think train wreck Britney Spears would be facing foreclosure on her high-priced mansion before TV veteran Ed McMahon.

But it's former Johnny Carson sidekick and Star Search host McMahon who's unable to pay his $4.8 million mortgage and putting a very public face on America's housing crisis.

How can a multi-millionaire be facing foreclosure? McMahon blames the ailing economy, poor money management and his broken neck - which has kept him unemployed for 18 months.

During a recent appearance on CNN's (TWX) Larry King Live, McMahon said his house has been on the market for two years without any offers. All of a sudden, there's a groundswell of interest in his property.

His advice to other homeowners facing foreclosure? Remain optimistic. Or snag an appearance on a popular TV talk show.

For more on the housing crisis, check out Hoofy & Boo's always astute report:

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