How To Stop A Foreclosure The Ed McMahon Way
The easiest and quickest way to stop the foreclosure on your home and get on with your life, is to have a really rich friend step in and bail you out. Yep, that’s it, now you’ve heard it. C’mon, tell the truth, it’s so simple that now you’re thinking..hey, I wasted all this worry, tears and anxiety for nothing. All I had to do was get on the phone, make a few calls and bada-bing-bada-boom, done! Foreclosure stopped. Fuhgettaboutit!
Well, what are you waiting for? Start dialing, emailing or stalking your way to foreclosure finality. What..no rich friends or contacts? Well, you can always start with The Donald. He’s looking to help out a few good people in bad situations.
Take the deal he just did to help out Ed McMahon. Trump announced Thursday he would save the television personality’s Beverly Hills mansion from foreclosure by buying it for an undisclosed amount and leasing it to McMahon.
Instead of here’s Johnny, Ed will be saying here’s the check…to his new landlord.
So if Ed can do it, why can’t you? Well what’s that you say…you don’t know Donald Trump? No worries. Trump told the Los Angeles Times he doesn’t know McMahon personally, but acted out of compassion because helping out “would be an honor.”
I bet there are a couple hundred distressed homeowners out there that would welcome the opportunity for Trump to continue his acts of compassion by helping them.
McMahon, 85, who was Johnny Carson’s sidekick on the “Tonight” show for three decades, has not worked for about 18 months because of a neck injury. He defaulted on $4.8 million in mortgage loans with Countrywide Financial Corp. Trump said that he plans to buy the six-bedroom, five-bathroom residence from the lender and lease it to the former Tonight Show wingman and his wife, Pamela, who are behind on more than $640,000 in payments on a $4.8 million mortgage loan.
McMahon’s spokesman, Howard Bragman, told The Associated Press that paperwork on the sale had not been completed but that McMahon was “very optimistic” the deal would go through.
“When I was at the Wharton School of Business I’d watch him every night,” Trump told the Times. “How could this happen?”
Hey Donald, quick lesson …a mortgage secures a promissory note that Ed signed that he would pay back his mortgage. When he didn’t pay the bank wanted their money back. When Ed didn’t cough up the dough they started foreclosure proceedings to recover some of what they are owed.
Still not sure how it works? Well how about selling me one of those sweet digs in Trump Tower. I want you to also hold the mortgage and note for me, as I know you are feeling compassionate. Soon enough when I can’t afford the 25k per month nut on the swank unit you sold me, you’ll truly understand how foreclosure happens.
Hey Donald, you are in the real estate business…right?
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