In one video, the 85-year-old -- and former pitchman for American Publishing Sweepstakes -- cruises through a neighborhood with his bodyguard and considers asking former sweepstakes winners for money.

Wearing a track suit, McMahon raps, "I had money and glory/I bought a house for six mil/I thought nothing could touch me/Until my credit went south, and debt started to crunch me."

McMahon was hired for the gig after a FreeCreditReport.com marketing exec saw him discussing his financial problems last June on CNN's Larry King Live. McMahon revealed that he faced foreclosure on his Beverly Hills home after falling behind on the mortgage payments. He said a 2007 neck injury and subsequent surgeries made it impossible for him to work, leading to his debt problems.

McMahon told the Associated Press that recording the rap in the studio took one day. When asked if he would consider releasing a full-length rap album, he said, "Not immediately." The videos will appear online in October.