Donald Trump Rescues Poor Person From Foreclosure
Donald Trump the Hero! He’s helping out a poor soul suffering foreclosure! Trump will buy the guy’s house and then rent it back to him! Hoorah! This isn’t a poor soul in terms of dollars. It’s Ed McMahon, who abused the refi process, using his house as a piggy bank to the tune of a couple million bucks, actions not to be rewarded.
Donald Trump! Hey, he’s my hero. Say nothing wrong about the man, now! Check out this heartwarming story, too.
A man buys a house for $2,600,000 about 18 years ago. He even has a Coutrywide mortgage. As the value of the house goes up, the man does like so many Americans have in those years, he used his equity as a bank account, refinancing and refinancing. A cruel person would say this man shouldn’t have done so, but he had a pretty younger wife, and surely she needed to go shopping, eh? So he runs the mortgage up to $4,800,000, and then loses his job when he gets injured. Coutrywide then forecloses on poor Ed McMahon.
The Donald comes to the rescue, though! Cue the white charger! As reported by the AP and the LA Times, Trump is going to buy Ed McMahon’s house and then lease it back to him. Here’s a bit of the LA Times story:
Mega-developer and TV personality Donald Trump has agreed to buy Ed McMahon’s Beverly Hills house for an undisclosed amount and allow McMahon to continue living in it. Details of the deal are still being ironed out.
“I don’t know the man, but I grew up watching him on TV,” Trump said in an exclusive interview with The Times.
McMahon, 85, was facing foreclosure within two weeks on his Beverly Hills home of 18 years. The aging television icon, who was Johnny Carson’s sidekick for three decades, defaulted on $4.8 million in mortgage loans with Countrywide Financial Corp. He said in interviews that he was unable to work because of a neck injury that occurred about 18 months ago.
A poor man such as Ed McMahon should get the same breaks as that poor man in North Philly who is being foreclosed on. McMahon, who has done a star turn playing a celebrity his whole life, with no discernible skills, and barely discernible contributions to society, is to be rescued by a man who also trades on his celebrity, Donald Trump. I suppose there’s a bit of balance there, but this still sickens me a bit. Donald Trump portrayed as a hero? Give me a break!
Why didn’t Ed sell his “little red wagon” full of gold that he claimed to have one night on Johnny’s show?
Looks like a classic case of another ‘grasshopper’ as in “The Grasshopper and the Ant’. Funny how much of the human condition is once again being exposed to it perennial frailties. Remember back in the heady days before boom.dust when the buzzwords were ‘New Economy’ and the talk of endless economic growth.
I guess it goes to show that you can spend lots more money when you make lots anyway.