Trump Loses McMahon Deal

It's hard to believe, but someone actually dared to outbid the Donald on a real estate deal. Last week, Donald Trump made news when he announced he was going to do a good deed and bail Ed McMahon - whom he has never met - out of his home's impending foreclosure. According to TMZ, McMahon's real estate agent confirmed that Trump made an offer on the property, but someone else's was higher. A statement from Trump's people expressed his concern for the aging TV star: "Mr. Trump truly hopes that they do the right thing by Ed McMahon and not have this 85-year-old American icon removed from the property." However, CNBC reported that McMahon has only six months to move out while the new buyer works through mortgage details.

According to the Associated Press, McMahon's mansion, which is situated in the same gated community as Britney Spears's humble abode, was on the brink of foreclosure because its owner had defaulted on a $4.8 million loan. The AP also reported that McMahon's debts have been piling up for some time, between extensive medical fees and his promise to cover the legal costs of his daughter's divorce.

Should the second buyer pull out, spokespeople have promised that Trump is ready and willing to purchase the home and allow McMahon to stay as a paying tenant. The name of the buyer was not disclosed.