- Joined
- Feb 3, 2013
Personally I think the condo situation is probably the biggest story from while the Farms were down. The fact he's been paying a grand and a half every month for something that has no benefit for him and is being forced to sell it for a fraction of the price he bought it for, shows partially why his debt situation is so intense.
That and having to get a much more affordable car when the BMW lease runs out shows in very real terms just how genuine Phil's financial issues are and I think that's pretty noteworthy since some of us weren't even sure how genuine they are.
It's more than just selling the condo, it's that he's doing a short sale on it. Short sales absolutely destroy your credit. Now imagine if Phil shows up at a dealership trying to lease another car after his credit has been utterly destroyed. He'll probably be either laughed off a good lot or be scammed by a shadier lot.