You know it’s bad when…

Wednesday, June 4th, 2008

Even Ed McMahon is getting foreclosed on.  Did you think that the mortgage meltdown was only hurting deadbeats and down-on-their lucks?  NOPE.  Good ol’ Uncle Ed, spokesperson for the American Family Publisher’s Sweepstakes is losing his mansion due to unpaid mortgage payments.

(Read the article in USAToday here.)

Celebrities from The Hamptons to Beverly Hills are facing the same issues as the rest of us - they get a couple of payments behind, their ARM readjusts, their show gets cancelled and BAM, the foreclosure sign is in the front window before you know it.

I think that Denver has really seen its peak as far as foreclosures are concerned, at least that’s what it feels like on the street.  Of course, there are still tons of short sales and foreclosures on the market, but it does feel like most neighborhoods are starting to see the light at the end of that dark, dreary tunnel.

Poor Ed, I hope it turns out OK for him, that the bank works out a payment plan so that he can catch up…just like they should be doing for the rest of the families who are losing their homes due to shady lending practices and a struggling economy!

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