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June 7, 2008

Ed McMahon Faces Foreclosure

The economic crisis is not sparing anyone. Celebrities are feeling the heat as their homes become too expensive for them. Ed McMahon, former side kick of Johnny Carson on The Tonight show is one of the millions of Americans that are losing their home. McMahon suffered a broken neck and has been unable to work for the past year. He and his wife have also been trying to sell their house for the past two years. No buyers have emerged for the multi-million dollar Beverly Hills, California home.

McMahon and his wife Pam were on Larry King Live the other night talking about how they found themselves facing foreclosure. Like most people the economic slow down and the inability to make more than they spent sent them into a downward spiral. There is some hope though. All of a sudden someone is interested in the house and the prospect of selling is a possibility again.

Ed McMahon coming forward and speaking to the world about his misfortune ahs got to be a big comfort for others that are going through the same thing. Misery does love company but on a more optimistic side, I think that McMahon is showing the world that everyone is struggling with the economic recession and the threat of losing homes. He also offers hope and kind of sends the message that we are all in this together. No one is better off we al must watch what we spend and keep our finances in check.

The prospect of foreclosure for Evander Holyfield, the world renown boxer was mentioned earlier in the week. However, the boxer came out and said that his 10 million dollar home outside of Atlanta will not be foreclosed on. It seems that foreclosure was a very real possibility at one time but somehow Holyfield found his way out of that crisis.

McMahon said that he and his wife came forward to share their story because they want to let other people know that there are many different things that they can do to try to avoid foreclosure. The average everyday person may not be able to get as much information about foreclosure as a celebrity can. McMahon did a great favor to America by bringing the point that there are many different things that can be done to help avoid foreclosure. Average people tend to listen to celebrities so maybe his speaking up will help others seek out assistance.

Buying a home is one of those dreams that can easily turn into a nightmare. Right now, with oil prices spiking, the stock market crashing and a number of other uncertain issues in the world, no one is completely safe from foreclosure. It is very important to make sure that your ducks are in a row at this time. Anything could come and change your financial situation and make foreclosure a real possibility. No matter how much money you have or think you have, this is the time to watch every penny and not over spend.

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