You should have no problem connecting the wiring. I imagine that since you have wiring just dangling in the basement that the builder was doing a star topology - that means that every outlet has a cable coming back to a central location. Being an old phone guy, I would put in either a 66 block or a 110 block - these are terminal blocks you can buy at any good electrical supply. The cables "punch down" to these blocks and using them gives you a lot of flexibility in the future. A special "punch down" tool is required and they differ depending on the block you are using. However, you don't need to get that fancy. Just leave a healthy portion of cable (in case you ever want use the blocks) and strip back the cable covering. Inside you will find 3 or 4 pairs of color coded twisted pairs. The ones that will be connected to the line 1 part of your jacks will be the blue/white pairs. There will be another pair that is orange/white and a third green/white pair. There may also be a brown/white pair. These are used for line 2, line 3 and line 4 respectively.
Like colors go to like colors - blue to blue, white with a blue stripe to white with a blue stripe, etc. I normally suggest using scotchlock connectors but with as many wires as you have, the correct size wire nuts will work fine. Let us know if you have any questions I have not covered.
VoIP hardware: 2 Telo w/3 handsets & Linx / ooma core
Total Lines: 8 / Numbers: 11 / Handsets: 20
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