Ed McMahon: Plans to stay back in house
Ed McMahon came into media spotlight. On Thursday the publicist has made the confirmation that the television icon and his wife have no plans to move from their residence which has been witnessing foreclosure for 9 months.
According to Bragman he does not have details about the deal that is giving permission to this eighty five year old McMahon to stay and said, "They ain't leaving."
The public records show that there was a series of transfers of the loans sometime during last month on the house of Ed McMahon that is situated in a hilltop gated community that also houses Britney Spears’ residential abode.
A Southern California company, Foreclosure Trackers Inc., has taken credit for brokering the deal and said that they are planning to negotiate a better deal for Ed McMahon.
In the beginning of this year Robert Lee, the company's chief executive officer added that his aim was to prevent Ed McMahon from having to move.
"My goal from day one was to make sure he stays in his home," added Lee regarding Ed McMahon.
He also added that the foreclosure proceedings against Ed McMahon would not be closed, but will be postponed for an indefinite period of time. He said the deal offers the McMahons lower payments on their home, but that their situation will be evaluated every three months.
Public records also showed that the Countrywide Financial Corp., which issued a default notice on the residence of Ed McMahon earlier this year, reassigned the loan to a company called DCI Technology Holdings. A subsequent filing also provided the indication that the loan was transferred to a limited liability corporation recently formed by Peter Liebow, a Northern California business lawyer.
Although Lee declined to give information about interest in the corporation he said that he did not own a share of the loan. He said the new owners are "a group of capital market investors" from Northern California.
Lee continued that he worked for months on the Ed McMahon’s house deal and his intention is to try to help other homeowners in similar situations.
While Foreclosure Trackers' name does not appear on the transfer documents, some of those familiar with the deal added that Lee and the company acted as middlemen.
Jumana Bauwens, a countrywide spokeswoman said, "Foreclosure Trackers was involved in helping the transaction between Countrywide and a third party."
She further commented that the company no longer has any control over foreclosure proceedings. Jumana further continued, "We're happy for Mr. McMahon."
The former "Tonight" show sidekick for Johnny Carson has faced a series of money problems since he broke his neck in a fall last March. He sued over unpaid loans and legal fees for his daughter's divorce, and has sued a Los Angeles hospital that he claims failed to diagnose his broken neck and bungled two surgeries.
For months, several people, including Lee and Donald Trump, have pledged to help Ed McMahon and save his house.
Trump stepped aside from his bid to buy Ed McMahon's home when Lee contacted him months ago. According to Michael Cohen, an executive vice president with the Trump Organization and Trump's special counsel he could work out a better offer.
The mogul has monitored negotiations and Cohen said Trump was satisfied.
In a time of bleak financial news, Bragman expressed hope that the resolution to the situation of Ed McMahon served as a good omen.
He continued, "We hope every other American in trouble has the same experience."