Here’s an interesting pre-foreclosure story coming out of Hollywood.
It shows what happens when you’re $644,000 behind on your house payments.
The Wall Street Journal is reporting that Ed McMahon’s Beverly Hills home has been on the market for two years and Countrywide filed a default notice against him last February.
Let me say this as we get over the shock.
I attended a real estate seminar in Atlanta a long time ago and one of the gurus was pointing out this very same thing. There were some really huge beautiful properties down there going into foreclosure. Foreclosure happens to the poor, the middle class and the rich. That’s a fact.
Here’s my point for today. If you’ve got the cash, or a line of credit you can probably find some spectacular deals right about now. Think Ed McMahon would like to sell that house? You bet.
Read more about Ed McMahon’s pre-foreclosure in Beverly Hills.
More about pre-foreclosures from the Net