It seems you have to be 120 days delinquent on your mortgage payments before a lender is able to begin foreclosure proceedings, and once they file for foreclosure in the courts (Connecticut is a judicial foreclosure state) there is another 30 day grace period for the borrower to respond. Unless Phil was actually dumb enough to call up the ConnDough's home loan institution and told them he isn't paying anymore it's possible we won't hear about that from Phil until like September, unless he's spinning more lies. Although I could see Phil being dumb enough to call and tell them just to foreclose now, I remember Phil intimating that they 'would be stupid to drag this out for months' and they should just 'take the property right away and sell it to get their money right away' when they are legally required to wait 4 months before they can foreclose on the property.
I could see him being on the phone for 40 minutes with people trying to explain this simple fact to him while he screams, 'I USED TO HAVE YOUR JOB! YOU DON'T KNOW WHAT THE FUCK YOU ARE TALKING ABOUT!', while also throwing a tantrum and calling them stupid because despite his threats of non-payment they still refuse to accept a short-sale when Phil makes more than enough money to keep making mortgage payments.
Phil should just try to sell the ConnDough to one of his speds for the remainder of what he owes on it's home loan, it's not like they even have to have any money because they can just take out their own loan to pay him. Then instead of throwing their tugboat money at Phil they can use it to split the difference on the monthly payments with a renter. There you go Phil, I just solved your problem. All you have to do is hard sell a sped to take on an investment they will instantly be underwater on by 100%. This should be a piece of cake just from looking at the salesman skills he displayed trying to sell his jizz covered statues he broke "just touching them normally", plus a sped likely has better money management skills than Phil. It's a win win.
Edit: I legit thought I was posting this in the 'Loan & Savings' thread lol