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WITH sweeping canyon views, gated access and nearby homes owned by the likes of Britney Spears, Ed McMahon’s house above Beverly Hills looks like the symbol of a life well paid.
That is why it came as a shock when Mr. McMahon, best known as Johnny Carson’s sidekick, confirmed this month that he was facing foreclosure.
He quickly became a national symbol of an overspent borrower struggling with the mortgage crisis. But Mr. McMahon had an advantage over the average homeowner: he could go on “Larry King Live” to talk about his plight.
“If you know where the money is, would you let me know?” Mr. McMahon joked during an interview in the six-bedroom, five-bathroom Mediterranean-style mansion he and his wife, Pamela, have called home for nearly 20 years.
In his case, he added more seriously, the troubles were not about a subprime loan or ballooning adjustable rate mortgage, but simple overspending. “I made a lot of money, but you also can spend a lot of money,” he said.
At 85, Mr. McMahon appears to be his jovial self. But he is in the twilight of a successful career, as a broadcast announcer, professional pitchman for brands like Alpo and Budweiser, and television host for shows like “Star Search” and “TV’s Bloopers and Practical Jokes.” He also drew income from acting, radio and writing books, and from serving as a celebrity spokesman for the sweepstakes sponsored by American Family Publishers.
His house is the one product he has not been able to sell. In the two years the 7,000-square-foot property has been listed on the market, currently at $6.5 million, he has not received a single offer, he said. The recent publicity is turning that around. By the end of last week, there were two offers for the house, said his real estate agent, Alex Davis.

nytimes.com