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(CNN)   Video Professor urges Obama to fix housing debacle, try his product   (money.cnn.com) divider line 36
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1684 clicks; posted to Business » on 25 Jan 2009 at 12:56 AM (5 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2009-01-25 12:04:25 AM  
Shamwow cannot clean up the housing mess and Vince is certainly not a professor.
 
2009-01-25 12:58:21 AM  
I irrationally hate that bastard so goddamn much.
 
2009-01-25 01:02:39 AM  
CtrlAltDelete: I irrationally hate that bastard so goddamn much.

You sense his inner football rapist

and I totally agree
 
2009-01-25 01:08:15 AM  
CtrlAltDelete: I irrationally hate that bastard so goddamn much.

There is nothing irrational about that hatred my friend.
 
2009-01-25 01:13:37 AM  
This is fantasy. The current problem is that a lot of houses have been over-valued, people couldn't make their payments and couldn't sell, and the properties went into foreclosure. Some people were able to bet on this outcome, and made huge sums of money. More credit for people buy won't help because there aren't any buyers at these prices. Someone has to eat this malinvestment, we can't just fake our way through it.
 
2009-01-25 01:18:26 AM  
The way he pleads "try my product" just makes him look pathetic and sad. I can see him begging his wife (or boyfriend if he swings that way) for it with that same voice.
 
2009-01-25 01:20:36 AM  
"Problem: The system is such a mess, they can't. Even the most qualified of potential buyers."

Honestly, I've been hearing this a lot lately, I haven't fact checked it but it blows my BS detector off the scale.

Anyone got the actual facts to prove or disprove this?
 
2009-01-25 01:24:48 AM  
If I ever see him on the street I will kick him in the balls. I used to work the helpdesk for Earthlink dial up support and he was suckering people into signing up for Earthlink while ordering his product. Some of the worst phone calls I had were from people who could not get their connection to work after he sold them the account.


\including a lady who screamed about Long distance fees she got when her friend emailed her.
\\ what do you mean the phone cord needs to be plugged into the computer?
\\\ What this connection will not work on a Commodore 64?
 
2009-01-25 01:26:29 AM  
I like how he suggests low down payments and low interest rates. Isn't that part of what started all this shiat?
 
2009-01-25 01:38:04 AM  
Maybe he should try fixing his company first, considering the 3rd link that comes up when you search for it is infomercialscams.com?

Oh wait, I better be careful, he might sue me -- see the 4th link ("Video Professor upset by criticism, sues 100 anonymous critics")

Seriously, fark him.
 
2009-01-25 01:42:09 AM  
Somehow I just don't trust a notorious fraudster when he talking about things other than fraud.
 
2009-01-25 02:09:15 AM  
Oh yeah, it's always a great idea to go back to a utopia that didn't really exist. Even if it did exist, there are at least 2,000 theories on why it existed, and 1,999 of them are utterly full of shiat.
 
2009-01-25 02:15:01 AM  
Alpharadiation: "Problem: The system is such a mess, they can't. Even the most qualified of potential buyers."

Honestly, I've been hearing this a lot lately, I haven't fact checked it but it blows my BS detector off the scale.

Anyone got the actual facts to prove or disprove this?


I wanted to buy a duplex that I pass on the way to work. It is occupied by 2 older couples (as far as I can tell I didn't barge in) and for sale for a couple of months now. I looked at the listing online, and I think I could make a buck on it because I could manage it myself and it is fairly close.

I talked to three banks and the credit union in my office building and none were encouraging. I only want $195K and nobody will loan anything on an income property without 30% down. (It is $225K)

Granted this is not a personal house, and I do have a bit more cash than usual as I moved some things out of equities and into cash about 8 or 9 months ago, but really if I could get a loan for income property with 11% down(25K on 225K) with a rate close to 6% I would buy it this week.

I would repaint, landscape, and probably do some other repairs giving some business to local contractors. However I can't find anything like that anymore.

I have the cash to up my down payment (or probably buy the thing outright) but I want to be able to deduct the mortgage expenses and leverage that credit to make money for myself through appreciation of the real estate and income from the property.

So since the credit market is tighter than a cat's bunghole I probably won't bother looking too much further into it. So no jobs for the contractors, no income for the bank, no extra income for me, nothing for the people that make paint, or nothing for the people that grow the sod for the lawn I am not replacing.

Three years ago I could have made that deal, 15 years ago I could have made that deal, but now our money have been given to bailout the banks and they are scared out of their wits.

Lots more people lose out than me. Oh, well.
 
2009-01-25 02:15:47 AM  
Doing so might put a few dah-lers in my pah-kit.
 
2009-01-25 02:26:57 AM  
Alpharadiation: "Problem: The system is such a mess, they can't. Even the most qualified of potential buyers."

Honestly, I've been hearing this a lot lately, I haven't fact checked it but it blows my BS detector off the scale.

Anyone got the actual facts to prove or disprove this?


I can. We intentionally bought our first house at 25% of our monthly income. 30 year standard mortgage with 10% down instead of 20%. Rate at the time was ~ 6%.

My wife is going to be laid off. I have some faith she is going to find a new job, but since the interest rates dropped so much I wanted to refinance. We pay electronically, so for the housing loan there's no late payments. There aren't late payments on anything else, either.

Our own local bank won't refinance us because the drop in value is equal to the principal we've put in. They want to keep the loan at a higher rate instead of getting us in at a lower rate, even if it means we can't pay the mortgage payment if my wife can't find another job.

They are making a pretty compelling argument to just stop paying. We've never had a late payment, we have a year of savings in reserve, and they didn't want to give us a loan at a lower rate. By month six of my wife being unemployed, I'm just going to stop paying for the house. I like it, but I can wait out seven years.

My hope is that someone else will offer us a loan, but apparently paying your loan on time with equity is no longer good enough.

We're both above 750 on our credit ratings. If we can't refinance on an even deal, no one can.
 
2009-01-25 02:43:57 AM  
EmmaLou: The way he pleads "try my product" just makes him look pathetic and sad. I can see him begging his wife (or boyfriend if he swings that way) for it with that same voice.

farm4.static.flickr.com

please. just try sucking on my balls just once and i guarantee you'll like it.
 
2009-01-25 03:51:23 AM  
If I'm every truly bored, I call the Video Professor phone # and ask how well the system runs on Linux. Always good fun.
 
2009-01-25 03:55:37 AM  
phreeks: CtrlAltDelete: I irrationally hate that bastard so goddamn much.

You sense his inner football rapist

and I totally agree


Flipper died a natural death he caught a nasty virus
Then there was the ever-present football player rapist
 
2009-01-25 04:26:44 AM  
rackrent: If I'm every truly bored, I call the Video Professor phone # and ask how well the system runs on Linux. Always good fun.

Do they have BeOS disks?
 
2009-01-25 05:12:05 AM  
img255.imageshack.us
 
2009-01-25 06:22:33 AM  
cranberryzero: EmmaLou: The way he pleads "try my product" just makes him look pathetic and sad. I can see him begging his wife (or boyfriend if he swings that way) for it with that same voice.



please. just try sucking on my balls just once and i guarantee you'll like it.


now that's comedy
 
2009-01-25 08:15:30 AM  
I wouldn't believe a word out of this asshole's mouth after I heard him claim on TV that he could "teach anyone Photoshop in ONE HOUR!"... Yeah, howsabout you go fark yourself....In an hour, I couldn't teach someone color theory, much less how that applies to Photoshop. And that's about 1% of Photoshop.

I can teach you the moves allowed in chess in 5 minutes. Is it then accurate to say I taught you chess in 5 minutes?
 
2009-01-25 10:13:37 AM  
In defense of the guy, I haven't seen any of his products, but I have met and worked with several people that used his stuff to learn their way around a computer. They were easier to work with and knew more than the general population.

madmann: "teach anyone Photoshop in ONE HOUR!".

Sit in a parking lot at McDonalds and watch. This is his target audience. Just because you are intelligent and a high end user doesn't mean that everybody else is (or wants to be).

Those that have used his product probably know how to open it and a few basics. I'm sure they tell their friends, "I know how to use Photoshop" and in their world, that's true.

I subbed for a beginning computer class a couple of months ago and was shocked to meet people that didn't know how to use a mouse. Intellectually, I knew they were out there but it just didn't seem 'real' to me. I was very surprised at how young some of those people were.

Another guy I talked with was biatching long and hard about how computer dumb incoming freshman were. They knew how to use myspace, their email and watch youtube videos and THAT WAS IT. Senior citizens that have to make a special effort to be around technology get more of a break from me than youngun's that are just willfully ignorant.
 
2009-01-25 10:15:04 AM  
Hmm. This is sort of like people that go to games and yell obvious shiat at the players:

Fan: "Make a tackle!"
Player: "Oh, thanks! Hey, drink that beer!"

/not mine
 
2009-01-25 10:20:05 AM  
JustinCase:
Another guy I talked with was biatching long and hard about how computer dumb incoming freshman were. They knew how to use myspace, their email and watch youtube videos and THAT WAS IT.


There's a lot of that.
They think that just being part of the 'tech generation' automatically makes them savvy. New York is rapidly filling with them.

/Sort of like that dude who guessed that Paris Hilton's password was her dog's name thought he was a hacker.
 
2009-01-25 12:58:02 PM  
deltabourne: Maybe he should try fixing his company first, considering the 3rd link that comes up when you search for it is infomercialscams.com?

Oh wait, I better be careful, he might sue me -- see the 4th link ("Video Professor upset by criticism, sues 100 anonymous critics")

Seriously, fark him.


I wonder which unordered lesson shows you how to do to the ^C and ^V to post "WE DO NOT MAKE UNAUTHORIZED CHARGES..." on all 200 posts from suckers who they say they did.

Think there's reason why he leans forward into the camera like he's taking a shiate?

I want a button on my TiVo remote that not only blows me past his crap, I want it to cause him severe pain.

"Try my product." Right. It's your product. To your customers what they buy usually has a name. Imagine, "Hey, Bob, come over to my house and I'll show you the great new product I just picked up!"
 
2009-01-25 01:39:30 PM  
Video Professor can eat Vince's slap chopped nuts and then get an Oxy-Clean enema...

Dumb ass...
 
2009-01-25 01:39:33 PM  
thereadlines: This is fantasy. The current problem is that a lot of houses have been over-valued, people couldn't make their payments and couldn't sell, and the properties went into foreclosure. Some people were able to bet on this outcome, and made huge sums of money. More credit for people buy won't help because there aren't any buyers at these prices. Someone has to eat this malinvestment, we can't just fake our way through it.

I'm watching some HGTV show right now and some chick in my town (Atlanta) is getting 100% financing on a 400K home. She works for a developer and her payments are $2800 a month She's probably already lost her job and the house.

You should have seen the realtor just working her. He knew she couldn't afford it.
 
2009-01-25 01:47:41 PM  
nashBridges: Alpharadiation: "Problem: The system is such a mess, they can't. Even the most qualified of potential buyers."

Honestly, I've been hearing this a lot lately, I haven't fact checked it but it blows my BS detector off the scale.

Anyone got the actual facts to prove or disprove this?

I can. We intentionally bought our first house at 25% of our monthly income. 30 year standard mortgage with 10% down instead of 20%. Rate at the time was ~ 6%.

My wife is going to be laid off. I have some faith she is going to find a new job, but since the interest rates dropped so much I wanted to refinance. We pay electronically, so for the housing loan there's no late payments. There aren't late payments on anything else, either.

Our own local bank won't refinance us because the drop in value is equal to the principal we've put in. They want to keep the loan at a higher rate instead of getting us in at a lower rate, even if it means we can't pay the mortgage payment if my wife can't find another job.

They are making a pretty compelling argument to just stop paying. We've never had a late payment, we have a year of savings in reserve, and they didn't want to give us a loan at a lower rate. By month six of my wife being unemployed, I'm just going to stop paying for the house. I like it, but I can wait out seven years.

My hope is that someone else will offer us a loan, but apparently paying your loan on time with equity is no longer good enough.

We're both above 750 on our credit ratings. If we can't refinance on an even deal, no one can.


You have no equity in your house, you owe (let's say) $200,000 on a $200,000 house. Why would anyone want to lend you $200,000, secured by a $200,000 house? That's a terrible loan for any lender to make, as if you don't pay and the house has to be sold, the lender will not get all of their money back, as they'll lose 10% or 20% or more in the process.

As for the original bank allowing you to refinance, why would they want you to do that? If they still own the loan (which they probably don't, but let's say they do), why would they want to let you lower the amount of interest you're paying them? The only possible reason to let you do so would be because they know you would otherwise refinance through another lender and so they'd rather do it first and get the new loan and the fees themselves. Which is not going to happen now.

The fact is that the banking system screwed up by giving you your loan in the first place. If they had known that your house would be dropping in value by 10%, they'd have never given you a 6% mortgage with only 10% down. They failed to see this coming and loaned you the money, but now certainly no one wants to make this mistake again and give you another loan like that.
 
2009-01-25 02:02:40 PM  
i67.photobucket.com

"C'mon, help ol' Gil out here! Buy my product!"
 
2009-01-25 03:20:00 PM  
Rapmaster2000: thereadlines: This is fantasy. The current problem is that a lot of houses have been over-valued, people couldn't make their payments and couldn't sell, and the properties went into foreclosure. Some people were able to bet on this outcome, and made huge sums of money. More credit for people buy won't help because there aren't any buyers at these prices. Someone has to eat this malinvestment, we can't just fake our way through it.

I'm watching some HGTV show right now and some chick in my town (Atlanta) is getting 100% financing on a 400K home. She works for a developer and her payments are $2800 a month She's probably already lost her job and the house.

You should have seen the realtor just working her. He knew she couldn't afford it.



Yeah. "Property Virgins"

One very smart woman had a budget for $200K or less for her condo. The realtor showed one with a new $35K bathroom listed for $249K. The Realtor showed all kinds of pique and said these first time home buyers just don't get it. She touted a 40 year loan. The buyer ended up buying for $220K. I'm fairly sure she was still wise enough to get a fixed rate.

We do watch now and wonder if these "Vrigins" got foreclosed.

What freaked me is her shaving it so close that $200 a month made a difference. Not for me.

I was a first time home buyer in late 2006. I was pre-approved for all kinds of madness. I set a price and bought a house bigger than I could imagine at that. My only aggravation to my buyers realtor was not having anything particular in mind other than the location. He emailed me links to a few dozen listings. When he sent me the listing for my house I asked what could be wrong with it and said to make an offer as we left. We never even looked at another house. He said it was one of the easier sales he ever had.

I refied in April 2007 and at that point you just needed to be conventional. Have 80% equity on the first mortgage. I suspect it's the same now. The problem today is so many owners are under water due to tapping home equity to the last penny and having the home value go down 20% killing the debt/equity ratio.
 
2009-01-25 03:38:20 PM  
Wow, Jack Layton will try anything.
 
2009-01-25 09:39:49 PM  
img136.imageshack.us
 
2009-01-26 01:13:35 AM  
CtrlAltDelete: I irrationally hate that bastard so goddamn much.



God, I hate those commericals. Even a swift cockpunch just wouldn't do him justice. It's like he has a vocabulary of less than 5 words:

"Product product try product product product product."
 
2009-01-26 02:32:56 AM  
Video Professor = SCAM
 
2009-01-26 10:07:45 AM  
netringer: I was a first time home buyer in late 2006. I was pre-approved for all kinds of madness. I set a price and bought a house bigger than I could imagine at that. My only aggravation to my buyers realtor was not having anything particular in mind other than the location. He emailed me links to a few dozen listings. When he sent me the listing for my house I asked what could be wrong with it and said to make an offer as we left. We never even looked at another house. He said it was one of the easier sales he ever had.

Realtors are pieces of shiat. That weasel made a killing off of just a few hours of work. Was it a $400k house? That is $12k for them.
 
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