In the Beverly Hills Courier today is the public notice announcing the foreclosure of Ed McMahon's home:
"YOU ARE IN DEFAULT UNDER A DEED OF TRUST, DATED 11/17/2005," it says. "UNLESS YOU TAKE ACTION TO PROTECT YOUR PROPERTY, IT MAY BE SOLD AT A PUBLIC SALE."
The notice says the auction of the home will take place on the steps of the county courthouse in Norwalk on October 2nd at 10:30 am.
Turns out McMahon owes a lot more than the $4.8 million in mortgages he reportedly took out on the home. "The total amount of the unpaid balance with interest...plus reasonable estimated costs, expenses and advances...is $5,865,792.23."
Ouch. Though the notice says, "It is possible that at the time of sale the opening bid may be less than the total indebtedness due."
- Maria Bartiromo: The Hunt for Black Gold
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