by PJ on 8/15/2008 03:28:00 PM

While we're talking about high profile foreclosures, via the LA Times, Ed McMahon's ship has arrived:

... Donald Trump has agreed to buy Ed McMahon's Beverly Hills house for an undisclosed amount and allow McMahon to continue living in it.

"I don't know the man, but I grew up watching him on TV," Trump said in an exclusive interview with The Times....

Trump said he stepped in because helping McMahon "would be an honor." His plan is to buy the home from the lender and lease it back to McMahon.

"When I was at the Wharton School of Business," Trump said, "I'd watch him every night. How could this happen?"

Same way it happens to many other, less famous borrowers, I'd guess.