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From One Old Dog to Another

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Ed McMahon and his wife Pamela sat down with Larry King on Thursday night to talk about his mortgage woes.

McMahon revealed to King, "If you spend more money than you make, you know what happens. A couple of divorces thrown in, a few things like that."

Awwww. Chin up, gramps!

McMahon also confirmed that his house had been on the market for two years with no offers, but since news of the foreclosure broke Tuesday, "now there's tons of interest."

Yay! You turn the lemons into lemonade, take the catheter out and get to work!

When King asked why a multimillionaire could not make his house payments, McMahon's wife said, "Over the years, it's a combination of maybe Ed working so hard and not looking at proper management. We didn't keep our eye on the ball. We made mistakes."

What's happened to the McMahon's is a good lesson for us all!

[Image via WENN.]

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65 comments to “From One Old Dog to Another”

  1. orange says – reply to this


    1

    boohoo…there are people with bigger issues than this one. Go sell something…I'm sure he has a ton of $

  2. KEG says – reply to this


    2

    Formally known as TEAM AMERICA

    Sorry Ed!

  3. T says – reply to this


    3

    poor guy

  4. Celest says – reply to this


    4

    You ought to show a little compassion. Can't wait till you're old. Oh I forgot
    30 is old.

  5. Jesse says – reply to this


    5

    2nd

  6. lalee says – reply to this


    6

    He is 24/7 drunk. That's what the problem is.

  7. yeah says – reply to this


    7

    Re: orange – So TRUE!!! One of his Tie Clips could probably pay my mortgage for a year!!!

  8. cry me says – reply to this


    8

    millions of americans are going through the same thing, perhaps not with million dollar houses, but their homes none the less. so now that some rich old guy is suffering through foreclosure, it's news?? i sympathize with poverty stricken america, not a guy who, along with his wife, has squandered his fortune.

  9. HEYYAL says – reply to this


    9

    WHY EXACTLY IS THIS GUY FAMOUS FOR SITTING IN A CHAIR AND LAUGHING? GET A REAL JOB!

  10. Please says – reply to this


    10

    I do not feel sorry for someone like Ed, he made over $200 million in his lifetime and screwed up, so many people don't even make $50,000 a year in their lifetime.

  11. __dani says – reply to this


    11

    wow. thats really sad.

    :(

    poor old guy..

  12. ef says – reply to this


    12

    Next we're going to hear that he didn't pay his taxes too!!!

  13. SanD says – reply to this


    13

    Hmmm….do I feel for this guy? Uhhh……FUCK NO!!! It's seems like that era of Hollywood really felt put up on a pedastal. Yeah, he had a bad manager but holy shit, take a look at your account once in a while.

  14. ami says – reply to this


    14

    whine on you dumb old cock!!! there are bigger problems in the world than having your stupid ass whining because you spent all your damn money on dumb shit.

  15. xx says – reply to this


    15

    serves him right.

  16. Dagny says – reply to this


    16

    Personal responsibility. That's what this snivelling whiner doesn't have an ounce of.

  17. FUKNO says – reply to this


    17

    WELL HE HAD MILLION COULD IMAGINE THOSE WHO DONT…THNKS TO BUSH

  18. indyda says – reply to this


    18

    I would think at his age, he'd have his shit together….a house that's paid for, money for retirement, etc. What a loser….probably spent it all on booze.

  19. wsd says – reply to this


    19

    I'll give him $5 if he lets me kick him in the dick!!!

  20. Novel1 says – reply to this


    20

    If you're going to cover the story - would you PLEASE cover the real story?! He broke his neck and couldn't work - that's one of the biggest reasons things slid downhill. ALSO, his house won't sell because he was living next to a pap trap celeb who caused a year of cluster fuckness next door and no one wants to buy a place like that. Don't paint him to be some helpless fool - there are real issues here. Oh, like you would have to actually be able to type and spell to cover that!!!

  21. NancIT says – reply to this


    21

    I am with you #11….

  22. rach says – reply to this


    22

    Oh, well. Peple dig these holes for themselves My husband, and I make half of what anyoen else in our family makes, have two children, and yet afford comfortabley the nicest new home. The economy sucks right now, but maybe people should've saved more in the bank! Quit living beyond your means!!!!

  23. Tasha says – reply to this


    23

    Re: Novel1 – With all the money this guy made over the years he shouldn't have to work. And that house should have been paid off. He's in the mess he's in because he squandered millions of dollars. Sorry I'm just not feeling for someone who can no longer live in their multimillion dollar Beverly Hills mansion because they pissed off their money.

  24. Robin says – reply to this


    24

    I feel sorry for Gary Coleman because his parents robbed him. But McMahon & Holyfield, not so much.

  25. sushif says – reply to this


    25

    It's funny because whenever someone talks about a celebrity, they always assume people like Ed McMahon have 'millions' of dollars, but thats not reality. If people like David and Victoria Beckham really had 200-300 million dollars, why would they be watching out for bargain deals, or stuff like that? Or Angelina Jolie and Brad Pitt. If had 'millions' of dollars, ED McMahon could have paid for the house at once, without payments. Absolutely ridiculous. They really dont have unknown amounts of money, they arent Bill Gates.

  26. lh says – reply to this


    26

    Basic lesson…

  27. twinkl says – reply to this


    27

    Yeah, if your rich, buy a house outright and NOT have mortage payments and NOT continually want bigger and better things…and don't get married. lol

  28. mike says – reply to this


    28

    What's the point to making fortune… to die and leave it to your kids? I want to go out like Ed… Have a great life, spend ALL my money and then die. When you are old and break a bone, you usually die right after, so I'm guessing Ed only has a few months to live.

  29. zeke says – reply to this


    29

    After watching him on Larry King and seeing the way he's lived I do not feel sorry for him. Maybe the Prize Patrol with roll up with a check. There are many people that work 2,3. and 4 jobs and they're losing their homes. those are the ones I feel sorry for.

  30. Pay Sh says – reply to this


    30

    I just don't get it……He's what in his eighties and worked practically his whole life…..he should have had a house at least paid off in his retirement years…most people don't work in their eighties anyways…….he probably had to have a bigger and better house over the years….to keep up with thw jone's that's how us Americans are….it's all about the material things.



  31. 31

    .
    .
    .
    He said he diddn't want to get into it about how he broke his neck. He a drunk, always has been! he's like 90 right? If I can get to 90 and drink like that, shit im going to keep on drinking! Mc Manns my inspiration! Heeeeeere's Jonny! (Walker)
    .
    .
    .

  32. stacy says – reply to this


    32

    He had a mortgage? At his age??? No. No pity here. They're looking for sympathy and trying to lump themselves in to the "mortgage crisis" (aka. "people living outside their means) and he's just a guy who didn't pay his bills. Shame on him.

  33. FoReal says – reply to this


    33

    I didn't even know he was black.

  34. s. says – reply to this


    34

    Re: stacy – oh yeah, he was out of work b/c of his broken neck. that's sad, however, his wife looked able-bodied. Why couldn't she get a job while her cash cow was recouperating.

  35. jersey says – reply to this


    35

    Maybe he will win the Publisher's Clearinghouse.

  36. Kimber says – reply to this


    36

    Novel1 You HAVE TO BE KIDDING. He stopped "working" (laughable at best being that he was way overpaid for doing nothing but introduce people for years) for 18 months not eighteen years. He "Fell" and broke his neck for which he was paid 7.5 MILLION Dollars just last year. Now they both want to sit and cry and use Larry King as a virtual tour for thier home to sell (how many others needing to sell got that chance) and lump themselves in with the MILLION or so others who are losing homes to live in cars in parking lots designated for the working homeless. Don't see him there and never will. As for the wife - Walmart needs greeters.

  37. What says – reply to this


    37

    85 years old and still owes on a house? Can't work for the past 18 months? Why does he need to work anyway? These are called the golden years for a reason. What's wrong with this picture? Too much booze, too many wives and too much high life. Don't feel one bit sorry for him. Try making less than $50K, sick spouse and putting kids through college. My story never made it to Larry King Live???

  38. Monali says – reply to this


    38

    Boo-Hoo at 85 he should not have to work! did the able bodied wife think Oprah was going to call and tell Ed not to worry and a check is on the way! frankly at 85 Ed could live out the rest of his life comfortably by selling some of his MANY furnishings, she on the other hand can't. All her idea to go on Larry and plead poverty, at times Ed looked out of it. get a job!

  39. Buster says – reply to this


    39

    What happens when you marry sluts. Sinatra knew all about it and hired hookers constantly. They never make demands and you only pay them once.

  40. SOTRUE says – reply to this


    40

    Re: Buster – YOU ARE MY NEW HERO!
    KEEP IT UP!

  41. Duke says – reply to this


    41

    Hmmm… That's strange. Larry King was at the Dodgers/Cubs game on Thursday night.

  42. me says – reply to this


    42

    didn't he have a house that had mold in it?? I remember seeing a story on that a few yrs ago. He supposedly couldn't live in it.

    Is this the same house?

  43. mary says – reply to this


    43

    I would like to know - what does he wife do for a living?
    Was she just spending his money, she should have been
    watching out for her older husband.

  44. Jaye says – reply to this


    44

    This man is 85 years old and doesn't own a home debt free? He didn't just jump off the boat last night; he's had YEARS of a GREAT SALARY and he didn't think he'd need some place to live for the rest of his life? What the hell is he doing with a nearly 5 million mortgage at his age? SO why is he on TV bellyaching? He wants someone to save him. The pity me factor works. Poor Poor pitiful Ed. Notice when he went to an awards show last year he wasn't wearing a neck brace, but he pulled it out for Larry King Live. He wasn't always OLD so I'm not going to waste my time feeling sorry for him now. He broke his neck and couldn't work? He was 83 years old then, why should he even had been in a position at that age that he would lose his home if he didn't work?
    As for that comment that hollywood types don't REALLY have millions? sushif you have to be kidding. They look out for bargains because they're smart and knows even 300 million can be gone if spent unwisely. As for Brad and Angelina, I'm sure they gave 8 million to charity last year because they can't afford it lol. Hell Brad just bought one piece of furniture that cost more than my house. I just don't see him in his later years with all his kids on tv begging someone to bail him out of a mortgage crisis. As they say, a FOOL and his money are soon parted.
    -
    this is the same house that had mold.. he said on larry king he got over 5 mil from insurance company , after paying everyone off he rebuilt the house.



  45. 45

    Seriously??? There are people with a lot less losing a lot more… It's hard to feel sorry for a man that's losing his multi-million dollar home when average Joe's can't get the same press for losing their homes.

  46. deedee says – reply to this


    46

    I guess Ed ain't going to be able to take it with him…and he really doesn't give a shit about wife #??????5????

  47. Yak says – reply to this


    47

    What a numbskull. How the hell can you lose that much money? He worked for over 65 years, most of it in showbiz making 100s of millions of $$$$ and he's blown it all? Hard to believe. I thought only MJ was stupid enough to do that. I don't feel bad for him, he's lived large, socializing with A-listers his whole life, living in mansions, eating the finest foods, staying in the finest hotels and flying in private jets. If you can't figure out not to spend more than you make when you make that kind of loot, you deserve to lose it. Anyway, he should have a military pension and he has lots of rich friends to help him out. My guess is he has lots of money stashed away somewhere and I'm sure he has a vacation home somewhere he can sell. Best of luck Bozo.

  48. ang says – reply to this


    48

    Well maybe Pamela should have worked too! IT TAKES TWO PEOPLE TO PAY BILLS>>>>>>>>> DON'T LIVE OFF SOMEONE!!!!!!!!!!!!!

  49. aja says – reply to this


    49

    feel sorry for the guy…next it will be that his management company defrauded him, etc etc….why doesnt his wife go out and get a JOB???
    we all have to do it, pay our taxes, and manage to get by.
    OH, and BTW….with all the money he has made, why isnt it paid for?

  50. Sharon says – reply to this


    50

    Who gives a flying fuck? People are living in their cars and I'm supposed to worry about ED Mc fucking Mahon losing his mansion?? Are you kidding me?

  51. AMO says – reply to this


    51

    I don't even want to hear it. His assistant reported that he got behind on his payments mainly b/c of his drinking. He forgot to pay his mortgage b/c he was a drunk people. Are we supposed to feel sorry for that? I know he broke his neck and all, but shit happens; you need to be prepared for such short comings and not spend more than you make. And have you seen his wife's face? Maybe stop getting plastic surgery and spend it on your bills. His old ass don't care what you look like, bitch.

  52. kate says – reply to this


    52

    he's soo cute! poor guy i'd give him money if i had some :(



  53. 53

    Your catheter comment was out of line dickhead..

  54. john d says – reply to this


    54

    Yes, not spending more than you make is a very important lesson…good thing Ed McMahon was here to teach me such a difficult concept. Seriously, what the fuck?! How could this guy have spent all his money?!



  55. 55

    Re: AMO – stop believing what you fucking read!!!

  56. Bridge says – reply to this


    56

    Tell his 30 year younger wife to get her muther fn az out and get a job - hmm how about throw her az into the "Bathomatic tub" that Ed once represented and let her sit there for 25 minutes until the damn water drains (the damn door locks you in and if you open it you'll flood the house - so my grannie told me) - then when she sees the similaraties of friviolous spending she'll get it……too bad so sad!!!

  57. Jerry says – reply to this


    57

    Re: sushif – He made $200 million during his lifetime. The house should been paid off.

  58. IHP says – reply to this


    58

    Mario does not post all of his comments. I guess if you don't like him, you aren't allowed to post.

  59. ciekek says – reply to this


    59

    his wife and kid blead him dry.
    so sad.
    the biz hates her.

  60. M J says – reply to this


    60

    He's going to double-break his old turkey neck kissing Larry's suspender-supported ass to get on the show. Poor aging wife left homeless when he pops his cork! So sad– —-NOT!
    the show

  61. caroab says – reply to this


    61

    "Take the catheter out and get to work."

    Wow.

    I didn't see the Larry King interview, but did he own up to his alcohol abuse? Somehow, I think he'll be all right. Friends will pitch in and come to his rescue. Maybe Don Pardo can throw him some work. Stay strong, Ed McMahon.

  62. KRITIK says – reply to this


    62

    I CAN ONLY EMPATHIZE IF THE MONEY WAS SPENT ON BOOZE

  63. Jan says – reply to this


    63

    He got a multi million dollar settlement for the mold in his house and he could have paid off the mortgage with the settlement years ago. What did he do with that money? Larry King, Frank Gifford,Regis, Donald Trump, and many other wealthy friends should chip in and buy him a small house.

  64. James says – reply to this


    64

    If you cover the story, cover it right. He lived for over 30 years in his Bev Hills home. That mortgage could have/ should have been paid off. he moved to the cloisters or whatever when it was built. He walked away with enough to nearly payoff the new home with say 1/2 to 1 million mortgage. Prudent buyers and prudent savers would have put money away - especially if he earned whatever has been claimed. Instead, no. My bet is, he took out all the equity, reinvested it, took a mortgage that had a five year arm with no interest or no principal, to be paid off in a baloon, he expected to be able to do so, and it all fell through the floor.
    Sad. yes. Just like the hundreds fo thousands of people who were talked (easily) into mortgages that were really steals, as in, they got away with a crime very nearly - and then it all fell through.
    We choose our path and we, as adults, understand the risks. Live with it.

  65. Shotsi says – reply to this


    65

    Not feeling sorry for an 85 year old with a mortgage - who blew all his money, who bought more than he could pay for and now cries about it. When are people going to start taking responsibiity for their own stupid decisions? Forgot that management company crap - if you don't even look at your statements and trust everything people tell you, you're begging to be ripped off. Plus, he hasn't worked in 18 months only - in 18 months he lost everything? Don't buy it.