VIP Mortgage's Reverse Department Receives 2020 Best of Scottsdale Award

SCOTTSDALE, Ariz., Jan. 31, 2020 /PRNewswire-PRWeb/ -- VIP Mortgage is thrilled to announce that their Reverse Mortgage Department received the 2020 Best of Scottsdale Award. The award represents the best of business within the Scottsdale community and is a recognition of the dedication and efforts of the Reverse Mortgage Department staff at VIP. The award gives the Reverse Team an entrance into an exclusive group of other businesses that have achieved this designation.

While most reverse mortgage lenders have felt the squeeze since changes to regulations were implemented almost two years ago, the commitment by VIP Mortgage to offer retirement strategies for the baby boomer population has helped its Reverse Mortgage Department grow exponentially. According to HECM World's Top 100 Lender Report, VIP ranked 21st nationwide in 2019 and had a 50% increase in the number of endorsed loans from 2018 to 2019!

Says Tim Nelson, head of VIP's Reverse Mortgage department, "VIP is helping change the perception of the Reverse Mortgage by taking an educational approach and ensuring that consumers, realtors, and financial advisors understand the value of reverse mortgages in strategic retirement planning, quickly becoming a front runner here in the Valley. This award is just one more testament to the hard work that myself and my whole team do every day."

"Tim and his entire Reverse Department at VIP are committed to their clients and the Valley of the Sun community." Said VIP's President and owner Jay Barbour, "I am so proud of what they have achieved and this award is just one more way to validate their hard work!"

Reverse mortgages are available to homeowners and buyers over 62 years of age. Seniors can borrow against the equity in their homes without having to make monthly payments. They may take the equity as a lump sum or establish a line of credit, creating a fixed monthly payment for as long as they continue to live in the home. Unlike a traditional loan or second mortgage, the borrower does not have to repay the loan until they no longer live at the residence or fail to meet their mortgage obligations.

About VIP Mortgage ? VIP has 22 offices in seven states and is licensed in 24 states. In business since 2006, VIP is committed to responsible lending and making the dreams of homeowners a reality. Company licensed; 145502 and 0909074

Media Contact: Carol Taylor | [email protected] | 520.305.6467

SOURCE VIP Mortgage