Trump To Rescue McMahon Home In Foreclosure; Proposed Deal Involves Sale Leaseback

In Beverly Hills, California, the Los Angeles Times reports:

• It's "The Donald" to the rescue. Mega-developer and TV personality Donald Trump has agreed to buy Ed McMahon's Beverly Hills house for an undisclosed amount and allow McMahon to continue living in it. Details of the deal are still being ironed out. [...] McMahon, 85, was facing foreclosure within two weeks on his Beverly Hills home of 18 years. The aging television icon, who was Johnny Carson's sidekick for three decades, defaulted on $4.8 million in mortgage loans with Countrywide Financial Corp. He said in interviews that he was unable to work because of a neck injury that occurred about 18 months ago. Trump said he stepped in because helping McMahon "would be an honor." His plan is to buy the home from the lender and lease it back to McMahon.

For more, see Donald Trump to buy Ed McMahon's house (Trump will allow McMahon, who was facing foreclosure, to continue living in the home).