Donald Trump Wants to Be Ed McMahon's Landlord
Tycoon plans to purchase TV personality's Beverly Hills home
The real estate mogul plans to save the "Tonight Show" sidekick's Beverly Hills mansion from foreclosure by purchasing it and then leasing it back to McMahon, report news sources.
In June, the 85-year-old McMahon defaulted on $4.8 million in mortgage loans with a unit of Countrywide Financial Corp. in an attempt to avoid foreclosure on his multimillion-dollar Beverly Hills estate, which he purchased in 1990. This month, he was sued by Westmoore Lending for over a quarter million for not paying back loans that were taken out two years ago.
Trump doesn't know the 85-year-old McMahon personally, but considers it an "honor" to help him, stating, "When I was at the Wharton School of Business I'd watch him every night."
The sale hasn't been completed yet, but McMahon is "optimistic."