A blog about real estate, interior design, and the home in the Washington, DC area.
|
Frank and Wendy Raines Buy Splashy New Digs
Despite the real-estate downturn, former Fannie Mae head Frank Raines and his soon-to-be ex-wife, Wendy, are helping to boost luxury home sales.
Published Tuesday, July 29, 2008
This spring, news broke that former Fannie Mae head Frank Raines and Wendy, his wife of more than 25 years, were filing for divorce. In March, they put Beechwoods, their seven-bedroom, eight-bath Forest Hills Colonial on the market for $8.3 million—and hit the streets separately to home shop.
Frank Raines spent $4.9 million on a condo in the West End’s Ritz Carlton Residences. Click here to see pictures of the lavish three-bedroom, seven-bath condo, which has a private terrace with a hot tub. Across town, Wendy Raines spent $4.3 million on this five-bedroom, six-bath Colonial in Cleveland Park. Built in 1910, the house listed for $4.5 million and has a pool and elevator.
Now they need to sell Beechwoods, which is proving difficult. The palatial Colonial is still sitting, and the list price recently dropped to $7,595,000.
|
Comments
I heard a rumor that Frank Raines had an affair with Barney Frank. Is this one of the reasons for the Spring divorce from his wife, Wendy, of 25 years?
Posted by: Judy Krueger, Nov 12, 2008 06:23:20 AM
What a thieving scumbag ! I hope there is a special place in Hell for him and all the other creeps involved in this mess. Somebody should be going to jail.
Posted by: carl, Sep 30, 2008 06:23:12 PM
AS OF NOW 9/29/2008, THE TAX PAYERS ARE PAYING FOR MR RAINES GRAND IDEAS
Posted by: CAROL, Sep 28, 2008 02:01:47 PM
Fannie is a publicly traded company, the people who have a beef w/ Frank & his millions are the stock holders. Your taxes are not paying Frank’s bills....
Posted by: Jenny, Jul 31, 2008 09:35:53 AM
All I can think of all the people being foreclosed on and all of the money that Frank Raines made as CEO of Fannie Mae which was set up by Congress and paid for by taxpayers was not doing it’s job helping these people.
I think it’s a disgrace that Fank Raines walks away with tens of millions in bonus compensation while many of the people who paid that money have lost homes while others are unable to make their mortgage payments.
Posted by: Tony Puca, Jul 29, 2008 01:38:26 PM
|
Post a comment
Feel free to leave a comment or ask a question. Because of the prevalence of spam, we ask that you fill out the code in the image below to help us eliminate spam comments. By posting here, you affirm that you are 13 years of age or older. Washingtonian.com reserves the right to remove or edit content once posted.
|
|
Candlelit holiday tours, a Capitol Hill Santa bar crawl, lots of Prohibition-repeal bar parties, film festivals, and more are all in this weekend’s picks.
more
|
Share
| Print |
Posted at
02:45 PM/ET, 07/29/2008 in
Luxury Homes | Permalink
| Comments (5)
| TrackBacks(0)
| Washingtonian.com Blogs
