Ed McMahon Finds Buyer and Avoids Foreclosure

TV veteran Ed McMahon has reportedly found a homebuyer for his multimillion dollar Beverly Hills mansion, thus avoiding the threat of foreclosure. Reuters said if the foreclosure were to happen, McMahon would be one of most high profile victims of today's housing slump.

The name of the buyer is undisclosed, but according to McMahon's rep, Howard Bragman, it is not business tycoon Donald Trump. "It's a confidential deal, and the buyer wants anonymity, but I can tell you it is not Mr. Trump-and it's not John McCain," Bragman said, joking about the Republican presidential hopeful's admission this week that he did not know how many houses he and his wife own.

A couple of weeks ago, Trump wanted to help one of his favorite TV personalities growing up by buying the home and leasing it back to McMahon. However, Newsday wrote that the purchaser's intent was to buy the house and give McMahon six months to leave.

McMahon, 85, is famous for being Johnny Carson's sidekick on the Tonight Show. Reports say he's been trying to sell his house, valued at $5.75 million in June, for about two years. His mortgage lenders filed a notice of default in February, when they noticed that McMahon has about $644,000 in unpaid debt.

He blamed his financial crises on a neck injury, which prevented him from working. The trouble with his injury also led to a recent suit that he filed against Cedars Sinai Medical Center in L.A., saying that the treatment was below par and in part responsible to his injury.