Quick Hits: Ed McMahon Gives Foreclosure No Stars
Brief scrutiny of today's headlines.
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:
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter