The working man isn't the only one struggling in the sluggish housing market. Big name celebrities are being singled out too. It was announced this week that Evander Holyfield and Ed McMahon are both losing their multi-million dollar homes to the banks.
Life threw a few too many curve balls at sweepstakes guru Ed McMahon. After a couple of divorces, a broken neck and just plain living beyond his means, McMahon is losing his home to foreclosure. He is behind a whopping $644,000 on his Beverly Hills home.
For former heavyweight champ Evander Holyfield, times are just as tough. He allegedly owes $500,000 in landscaping bills alone. The foreclosure fairy posted a notice in his local paper in Georgia claiming the athlete's 109 room mansion was being foreclosed on. That's got to be hard for the athlete once worth millions. In 1997 he won $34 million for his "Bite Fight" - the one when Mike Tyson bit off his ear.
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