Matt Nye Helps Clients Pay Off Almost $1.8 Million in Debt

Matt Nye HeadshotDRAPER, UT – United Financial Freedom (UFF) recognized Executive Director Matt Nye of Florida as a “Rising Star” in June for having almost $40 million in debt under management and helping his clients pay off $1.78 million in debt.

Nye has been an agent for United Financial Freedom for less than two years and achieved the rank of Executive Director last August.

“I was honestly stunned when corporate called and showed me the numbers,” Nye said. “I knew the program was powerful because I use it myself, and I’ve seen the impact it has as I’m working with people on an individual, case by case basis, but to see the aggregate numbers… well, it just blew me away.”

MMA LogoThe Money Max Account (MMA) is an innovative cloud-based financial platform that allows clients to manage all of their accounts from a single pane of glass. The program’s advanced algorithms constantly adapt to changes in the client’s financial situation in real-time to ensure they are always on the fastest path to debt freedom, no matter how their life circumstances change or what challenges arise.

“This program is powerful because it instantly shows people how much the interest on debts like their mortgage really costs them, and how easily and quickly they can get things paid off using cash that would normally sit idle in their bank accounts,” Nye said. “It tells you exactly how much money to send to which debt and when to send it… it’s like a financial GPS that tells you turn by turn what your next move is to get to the destination of zero debt.”

With interest rates at historic lows, Nye says he regularly works with clients who will pay off newly refinanced 30-year mortgages in as little as 5-7 years using the program. He says Americans have been conditioned to accept a 30-year mortgage as a requirement of homeownership and is frustrated that more people don’t realize it doesn’t have to be this way.

“I’ve been in the finance and technology sectors for more than 30 years now, and the MMA is the most revolutionary program I’ve seen in the personal finance space in the last 15 years,” Nye said. “I’ve had clients weep when they see the results the system gets for them – it is truly life-changing, and knowing I am helping to free people from the bondage of being in debt is incredibly gratifying.”

Nye says it takes an hour or so to compile all of the necessary data and run the analysis to see what the program will do. He provides the service at no cost to his clients, and there is no obligation.

“The vast majority of the time, the decision to get on the program is a complete no-brainer,” Nye said. “Every American with a mortgage should be using this program to pay off their home, eliminate all their debt and build wealth.”

First Time Homebuyers Have Been Lied To! (Here’s what you need to know)

Despite record low interest rates during the last decade, less than 40% of Americans have their homes paid off

Did you know that you only have a 37% chance of actually owning it outright when you buy your home?

It’s okay… not many people do.

That’s a direct stat from Forbes Magazine written in late 2019.

For years the terms “home buyer” and “homeowner” have become synonymous. That’s because many states, like Florida, grant you the title to the house when you purchase it, even if you have a mortgage.

Contrast this process with a financed vehicle purchase, where you don’t receive title to the vehicle until you have paid off the loan, and you can see how things get a little muddy.

There are many reasons homeownership isn’t higher in the United States, and I could write an entire book on that subject… but the biggest reason is: math.

Two Things Banks Are Great At

Whether you love them or hate them, the two things banks are really good at are numbers and statistics. They know the average home buyer only stays in the home for 7-8 years, so they do everything they can to make sure they extract as much interest out of that home mortgage as they can in that critical 7-8 year timeframe.

They do this by using an amortization schedule that front-loads most of the interest into the loan’s early years.

Techniques Used By The Banks

Amortization is an accounting technique used to periodically lower the book value of a loan or intangible asset over a set period of time. In relation to a loan, amortization focuses on spreading out loan payments over time. But not all loan payments are created equal.

If you’ve never looked at the amortization schedule for your mortgage – and most people haven’t, because, you know – they have lives – it’s an eye-opening (and depressing) experience.

Here’s an example of an amortization schedule on a 30-year mortgage at the national average rate of 3.6% in January 2020:

Notice that in the first month of the schedule, $750 of the $1,136.61 payment goes to interest, and only $386.61 to principal – that’s 65.9% to interest. If you take this loan to maturity, you will pay a total of $159,180.82 in interest – that’s 64% more than you borrowed!

Crazy, right?

When you see how the banks rig the game with the amortization schedule, it’s easy to see why more people don’t own their homes free and clear.

What Does This Mean To The Average Home-Owner?

If you play by the banks’ rules, odds are you’ll always have a mortgage. You’ll spend tens or even hundreds of thousands in unnecessary interest. And you won’t even realize it because you’ve been conditioned to believe this is how the system works (all of us have).

Worse, Scientific studies show there is a correlation between carrying debt and mental health. In one study, researchers found that those who struggle to pay off their debts and loans are more than twice as likely to experience a host of mental health problems, including depression and severe anxiety. The vast majority of people I work with cite being free from the “burden” or “worry” of being in debt as one of the primary reasons for reaching out.

A survey conducted in 2019 also showed 64% of Americans are unprepared for retirement. The primary reason is that people just don’t save enough, and the reason for that is – you guessed it – debt.

The Escape Plan

Going From Homebuyer to Homeowner In As Little As 5-7 Years

Here are the steps you can take if you want to do the work of an automated system that’s proven to reduce debt quickly:

Minimize expenses as much as possible to improve cash flow. The more discretionary income you have at the end of the month, the more you can apply to additional principal payments.

If you’re looking at the big picture and you have a mortgage, make additional principal payments as often as you can. Because of how the amortization schedule is structured, the mortgage interest offers the most significant potential savings.

If you don’t have a mortgage, make additional payments to the highest-interest debts first. This approach will save you the most interest from a mathematical perspective.

Alternatively, if your primary concern is improving your monthly cash flow, you can use the “snowball” method, where you target the smallest debt first. This strategy requires you to make the minimum payment on all debts except the smallest one.

Once you’ve paid off the smallest debt, you move on to the next debt in line, making the minimum payment, plus the payment amount you were paying to the debt you just paid off. The minimum payments from the paid debts go away, freeing up that money to pay more on the next debt, hence the “snowball” moniker.

With interest rates on mortgages at all-time lows, you may want to consider a cash-out refinance for debt consolidation. But if you do this, you MUST NOT run up the balance on the cards again, and you should use the cash freed up from the monthly payments that are gone to make additional principal payments against the mortgage.

In closing, if you want to learn how you can beat the banks at their own game, schedule a Debt Conversion Call with me here.

Start the new year off right with 9 quick tips to get out of debt

Getting out of debt can be a painfully difficult process, unlike getting into debt. With mortgages, student loans, credit cards, etc; it can take but a few months to accumulate debt in the hundreds of thousands but an eternity to get out of debt.

According to Experian, the average American carries an average of $6,354 in credit card debt and more than $24,700 in non-mortgage debt such as car loans. Meanwhile, an average student loan balance is at a high record of $34,144.

With an accumulation of all this debt, everyone has a different way of paying off the debt. However, many individuals stick to only one approach until the debt is paid off, not realizing there are multiple ways to get out of debt.

You are on the right track if you want to be more informed of the many strategies an individual should use to get out of debt. In this article, you will find useful and valuable tips to help you get out of debt.

Pay more than the minimum payment

Paying more than the minimum payment will help accelerate the payoff process. The lesser you pay toward your debt balances, the longer it will take to clear your debt.

This strategy works for anyone, whether you are paying credit card loans, student loans, or personal loans. Any penny you spend over your minimum monthly payment goes to your loan principal, which will help you expedite your debt payment.

With this strategy, it is advisable to check with the lenders to be sure there are no prepayment penalties before you get started on your payment plan. If you want to keep track of your debt-paying process, you can seek the help of mobile debt repayment tools like tally and Unbury.me.

Pick up a side hustle

Side hustles are also an effective way to expedite the debt-paying process. Everyone has a skill they can monetize to earn extra cash, be it mowing lawns, playing video games for money, babysitting, cleaning houses, and clothes deliveries.

All these are ways of making money by amplifying your efforts, which will help you a great deal when you want to get out of debt.

Many people indulge in online writing to earn extra income. With the numerous freelancing platforms out there, anyone can earn extra cash. The great thing about these side hustles is that work can be done in your own free time.

Snowball method

This strategy requires an individual to make the minimum payment on all debts except the smallest debts. You will then use discretionary income to pay off the smallest debts.

Once the smallest debt is cleared, you move on to the next debt in line, making the minimum payment, plus the payment amount you were paying to the debt you just paid off. With time small balances will be eliminated, earning the way you invest your pennies in clearing the more enormous debts. Do be aware that this method takes discipline, and is not right for everyone.

Cut down on your expenses

This strategy is quite useful, especially if you are a heavy spender. It is easier and less time-consuming than working extra hours.

Cutting down expenses will help you save a lot and use the saved cash to repay your loan. It is advisable to start cutting down on costs so that you can save more to pay off your debts.

For example, you can cut down on the items you buy when grocery shopping, create an entertainment budget, and reduce the number of times you eat out every month until you get out of debt.

Being debt-free is a lifestyle only a few get to enjoy by selecting the best debt elimination strategy.

Ask creditors for lower interest rates

Picking up your phone and calling creditors to negotiate for a more affordable interest rate might be a good idea. Some creditors will make a deal with you for a more reasonable payment rate based on your payment history and account standing.

By lowering your interest rates, you can secure enough extra cash to help you speed up your debt elimination process. Having excellent debt-paying records will help you with creditors.

Selling things you do not need

Selling things you do not need is also an excellent way to earn some extra cash. Even when you have a shopping list and a strict budget, there are times when you can’t help buying something on impulse.

So, why not consider selling off things that you may not need? This will help you earn some extra dough that will be useful for your debt payments. Consider selling your things to online resellers and Facebook yard sale groups.

Do a credit card balance transfer

Balance transfers help you secure 0% Interest on the annual percentage rate of up to 12 months. By doing this, you can eliminate all credit card interest, although you may need to pay a balance transfer fee.

This method frees up your cash flow, helping you clear the credit card bills hence paying down your debt faster.

Use a debt elimination program

Debt elimination programs like The Money Max Account from United Financial Freedom help you to strategize your finances. With access to financial strategies that have been used by the banking industry, this strategic financial management program helps you to understand your financial situation better and guide you on how to get back on track.

This method will assist with improving your financial knowledge and gives you a clear path to becoming debt-free.

Stop bulking your debts

Bulking of debts can be quite tempting, especially when an opportunity for more loans is granted. Racking up debts makes it more difficult for you to repay the existing ones. For example, limiting your credit card use and not applying for more loans can help you focus more on paying off your current debts.


Getting out of debt can be a complicated and tiresome process. However, with an adequately analyzed debt payment plan and correct the right financial strategies, it can become easier to pay off debts and be completely debt-free.

Therefore, it is advisable to pick a suitable payment plan for your cash flow and help you achieve your goal to get out of debt. If you have tried to get out of debt on your own and are not experiencing the success you would like, it may be time to look at a program designed to get you out of debt.