Ed McMahon worked for American Family Publishers NOT Publishers Clearing House.

I bet there was a time when Ed McMahon could have paid CASH for a nice home in Malibu - maybe 15 years ago when he had a steady JOB. I hope he has learned from this experience and starts living within his means. Hopefully he didn't owe $4.8M and made a little extra on the house sale.

Ed - please find a new place that is affordable, so you don't get too far in over your head. Us 'normal' people do it all the time - it's called buying what you can afford. And at your age - you should be debt free, not up to your eyeballs in debt.

Hey, keep in mind, McMahon does not get residuals for the Tonight Show, nor was he paid the millions per year that Johnny Carson was. The role of "Second Banana" pays considerably less...that's probably why Andy Richter left Conan O'Brien years ago.

yes now he can move into one of those really cool assisited living centers where he can enjoy his life and not worry about things like this at his age. This is a good thing, the sad thing is all of the money he ever made went to waste. I dont feel sorry for him but I do feel a little relieved that he is not going to be on the streets with a shopping cart like so many of our country men. women and kids.

I hear his wife spends a lot of money on shopping. That could be why.

My only question is how could someone that SHOULD have a whole lot of money in a bank from decades of working in show business default on a loan? Living above his means perhaps? Paying too many ex-wives alimony? Throwing away money on gambling and booze? Sorry, I just can't bring myself to feel sorry for him.

It's great that Ed McMahon sold his house, which is in Britney Spear's neighborhood, and it was a gated, six-bedroom Beverly Hills home, even though it wasn't to Donald Trump, etc.