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June 6, 2008
McMahon's Money Woes
Former Carson sidekick Ed McMahon, 85, is facing foreclosure on his $6 million Beverly Hills mansion -- and now the TV spokesman remains upbeat as he faces tough questions on the set of "Larry King Live." "It's one of those things... there's a lot of people who have problems," says McMahon of his housing crisis.
According to reports, McMahon's home could soon be on the auction block, because Ed wasn't able to come up with the funds to save it. McMahon pulled in $600K to $1 million per year during his 18-year run as Johnny Carson's announcer. In addition, the former "Star Search" host raked in millions from the hit talent show, commercials, and even a court settlement when his house became infested with mold -- but Ed explained that he had other costly expenses.
Ed talked about his woes, saying, "A couple of divorces -- the economy, I have a little injury," a reference to a fall that broke his neck 18 months ago which put the actor out of work. Since going public, Ed's been flooded with calls and his spirits are high, and he remains "optimistic" about the future.
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Helping Hands announced that it has received 256, 500 to support Trotwood, Ohio foreclosure prevention counseling efforts. The much-needed boost will enable Helping Hands and other local organizations across Trotwood and Dayton, Ohio to provide more foreclosure counseling than ever before to area homeowners in danger of foreclosure. Last year, 129,000 of homeowners in Ohio lost their homes to foreclosure, and research shows that many of those may have been avoided if these homeowners had received counseling and assistance. We cordially invite you to join us on June 21, 2008 from 10-5 pm for a community “Dreamkeeper Foreclosure event. This free event is designed to give homeowners imperative information that can assist them in Saving their Dream.
The grant to support Helping Hands foreclosure counseling intervention efforts was provided by a grant received from Mission of Peace National Corporation through the National Foreclosure Mitigation Counseling Program. Mission of Peace is a HUD Approved National Housing Counseling Intermediary that provides funding, training, and technical assistance to not for profit organizations throughout the country. Approved by Congress in the FY08 Consolidated Appropriations Bill, the National Foreclosure Mitigation Counseling Program is administered through a competitive application process by NeighborWorks® America, within guidelines defined by Congressional legislation. NeighborWorks America is an independent, Congressionally-chartered non-profit organization based in Washington, D.C. with a mission to provide access to sustainable homeownership and safe, affordable rental housing.
Helping Hands COC provides one-on-one counseling services to consumers who are at risk of foreclosure. This informational community event is designed specifically to target the large number of foreclosures that we know could be avoided if more homeowners knew about the Savethedream 1-888-404-4674 hotline. The hotline provides foreclosure counseling and budgeting help, and connects callers with local organizations like ours that can work with the homeowner one-on-one to review their financial situation and try to work out a solution with the lender