Ed McMahon finds private buyer for his home in foreclosure

Ed McMahon’s house has been bought, but as it turned out it wasn’t ‘white knight’ Donald Trump to the rescue. McMahon has found a private buyer for his hilltop home, according to Howard Bragman, the former “Tonight” show sidekick’s spokesman. McMahon’s property is located in a hilltop gated community that is also home to Britney Spears.

Bragman declined to name the buyer or the selling price to the AP. But he said it isn’t real estate mogul Donald Trump, who recently offered to buy McMahon’s home and act as a landlord. This sounds like a better situation for McMahon who was facing foreclosure on his home after he defaulted on a $4.8 million loan.

Bragman said McMahon and his wife, Pamela, will move out of the home when the sale is complete.

McMahon has said he was experiencing financial troubles because he was unable to work after falling and breaking his neck in March 2007. It’s also been speculated that his wife’s spending habits are the reason for the financial woes. TMZ ‘reported’ that Pamela McMahon is “oblivious” to the late night legend’s cash troubles, and shops like their life depended on it. The 85-year-old has for years worked as a pitchman and recently resumed that role, appearing with comedian Jimmy Kimmel to advertise Pontiac vehicles.

McMahon has faced money woes for months, with debtors filing lawsuits against him for everything from unpaid prescription medicines to loans.

One lawsuit is seeking more than $750,000 from McMahon for unpaid loans and fees attorneys say McMahon agreed to pay to handle his daughter’s divorce in New York.

McMahon also has his own lawsuit going against Cedars-Sinai Medical Center and two doctors filed in July, accusing them of discharging him with a broken neck after his fall in 2007. He also alleged the hospital botched two neck surgeries.

The hospital responded in court filings on Wednesday by asking a Los Angeles Superior Court judge to throw out many of McMahon’s claims.

Attorneys for Cedars-Sinai wrote that McMahon’s lawsuit failed to prove allegations of fraud, battery, elder abuse and emotional distress. They also want to prevent McMahon from seeking punitive damages.

A hearing on the lawsuit is scheduled for Sept. 18.