Latest responses to “Even Celebrities Can Fall On Hard Times And Face Home Foreclosure” Copyright 2013, MoneyBlueBook.com 410850 2010-06-16T10:13:53-07:00 san diego realestate market How about a good real estate joke? If you think no one cares you're alive, miss a couple of house payments. 410840 2008-08-01T15:12:51-07:00 Steve This just goes to show that the state of the economy is affecting everyone, including the wealthy, negatively. 410830 2008-06-13T14:04:32-07:00 Joe W Maybe they went on CNN to just get publicity to finally unload their house since no one had bought it yet. Why else would you publically humiliate yourself like they have been? 410820 2008-06-13T14:02:26-07:00 Joe W Boo-hoo a multi-millionaire is losing his house, sniffle-sniffle. He's still got plenty of money to buy a townhouse like everyone else. He's 85 not 35, how much longer does he realistically have left? And I wouldn't worry about his trophy-wife - his life insurance policy will keep her in riches for the rest of her money-grubbing life. 410770 2008-06-10T19:50:57-07:00 Brian ED didn't plan on failing he just failed to plan. If he did everything right he would have had disability insurance, he would have had plenty of investments to draw on, and should have downsized many years ago. "Get the best corrective people", hello like maybe a accountant and financial advisor? Thanks for your advice Ed, but I continue to get mine from Bloggers like the Money Blue Book 410780 2008-06-10T16:08:07-07:00 Raymond JB, I think the unfortunate reality is that many of us do think we will live forever and continue working at the same pace and strength as we did during our younger years. But like cars, even human parts will eventually creak and break down with age. But like McMahon indicated, you throw in a couple of divorces, health situations, and a faltering economy and you have a recipe for financial tragedy. I'm still fairly young but I'm already saving like crazy for my retirement. When it comes to the power of compound interest savings, the earlier the better. 410790 2008-06-10T15:43:21-07:00 JB This is an unfortunate story. The weird thing is though, that the newscasters always mention that 'he's been unable to work for the past 18 months while recovering from a neck injury.' This is very true, but he's obviously in the retirement age bracket as well. Doesn't he have money saved for his retirement/old age, did he plan on working forever? It's scary to think someone could have millions and spend it/lose it all and potentially have no retirement savings. 410800 2008-06-09T15:37:55-07:00 Raymond JimmyDaGeek, I hear you on some accounts. I do understand the viewpoints of those that refuse to sympathize with those mired in a housing foreclosure. Particularly with so-called rich people like the McMahon's it's just hard to sympathize when they're talking about foreclosure on a multi million dollar mansion. But I personally don't think they bought the house on speculative intentions nor were they ARM interest gamblers. They simply got hit by bad fortune - recession, poor economy, health injury, and several divorces. I'm not sure they went on CNN to gather sympathy but rather to let others know that they aren't alone and that financial mistakes happen to the best (and worst) of us. 410810 2008-06-09T15:09:54-07:00 JimmyDaGeek I sympathize with no one on foreclosure, except those that are jobless, suffering catastrophic expenses and fraud victims. The financially irresponsible, the investor, and the ARM gambler deserve everything they lose. McMahon and his wife are financially irresponsible, the lowest crud on totem pole. They have blown more than I will make in my lifetime. Let them pay their bills like the rest of us. No money? Have a garage sale, sell on eBay or Craigslist. If they really want to be like ordinary people, let them suffer like ordinary people.