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 June 10, 2008

The Foreclosure Frenzy
Not even celebrities are immune to foreclosure and Ed McMahon is facing just that. Initially, I thought there must be some mistake, but after seeing Mr. McMahon on Larry King, it's true. How does a man who surely made millions upon millions of dollars not able to pay his mortgage on his southern California home, which he is reportedly around $700,000 behind on his payments.
Mr McMahon has been offered assistance from countless brokers, offering free audits of his mortgage file. At this time, he is not going to accept any help. One broker from Detroit offered his services and he also had gone through foreclosure. He also has authored a ton of those "for Dummies" books, all of them dealing with foreclosure, flipping houses, or saving money on properties.

The trend in publishing, a few years ago, when the housing market was on fire, boasted countless titles about how to buy homes and make millions in the housing market. The current trend shows titles that advise people about foreclosure.....and that market is red hot.

We wish Mr. McMahon all the best. His home is currently on the market for $6 million.