AP Ed McMahon

CNBC has learned that Ed McMahon's mansion has fallen out of escrow and is back on the market. The "Tonight Show" veteran, facing foreclosure, was trying to sell his home for $4.6 million, and two weeks ago he found an unnamed buyer.

That buyer reportedly needed to qualify for financing to close the deal. We're not sure if that became a problem.

Donald Trump, of course, had earlier trumpeted his desire to pay cash for the house and lease it back to McMahon so that the TV star could continue to live there. The lease-back may have been a sticking point. Would you want Donald Trump as a landlord? Would you want Ed McMahon as a tenant?

However, when Trump was trumped by this second offer, his spokesman told us The Donald was just a phone call away in case McMahon changed his mind. "Banks have a standing offer from Mr. Trump who is ready, willing and able to consummate this transaction immediately -- not subject to contingencies, inspection or due diligence," spokesman Michael Cohen told us on August 22nd. "All he wants is to see that Mr. McMahon's needs are met."

Stay tuned. See the update here on Donald Trump!

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