Secured and Unsecured Loans

Loans from banks can be secured or unsecured as well. You can read about securitized loans here. The idea is to get as much cash as possible as quickly as possible so you can spend it on other things. If you get too much, you can easily get stuck with an unmanageable debt, even if the loan is in your name.

Securitized loans are designed to have a much shorter repayment period than most conventional loans. They are also designed to be more liquid than their unsecuritized cousins. Most conventional loans have a 10-year repayment period with 3-6 months in arrears. Securitized loans have a much shorter repayment period of 7-12 months, and have no fixed repayment schedule. With a 6-month prepayment penalty, you are often faced with having a higher repayment period than the standard 7-12 month loan repayment period, which puts you in a very difficult position if you want to pay off your loan as quickly as possible.

Securitized loans are also much more risky than traditional loans, because the amount of risk is higher with a securitized loan.

So, when choosing a loan, it is important to keep in mind your needs, and also the type of loan you are considering. I’ve worked on a lot of securitized loans, and I can personally attest that many of these are not as good as they claim to be.

When it comes to the mortgage market, you have to ask yourself, is the risk worth the reward?

When we think of a bank loan, we tend to think of a traditional mortgage that has a mortgage rate, a monthly payment, and other typical fees. However, if you look at the more typical type of mortgage that securitized into your account, you’ll see that they also include a fee, called a service charge, also there are options online with great short term loan rates that you can find which could be perfect for your situation. This fee helps to cover costs associated with providing the mortgage, and in some cases can also be used to help with the origination of the loan.

Mortgage Refinance

The most common types of refinancing mortgages are called mortgage refinance loans. This type of loan is used when you are unable to refinance with your current lender. This is because the rates for these loans are much lower than what your lender is currently offering you.

Paul Kortman

Dad of 4, husband, blogger, digital marketer, follower of Jesus. I podcast at nomadtogether.com and own connexdigitalmarketing.com We're on this crazy journey to travel the world as a lifestyle. Looking for help in how to live as a digital nomad family? Join this Facebook Group!

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14 Comments

  1. Tim Czarkowski

    Looks like a very nice spot. We’ll have to check it out on our way down next time.

    Reply
    • Paul Kortman

      It’s worth a stop, and it’s super close to the us.

      Reply
  2. Michael

    We are considering Clam Beach Resort or the RV resort next door. How would you compare the two?

    Reply
    • Paul Kortman

      Michael, not sure where you’re getting your information but there is only one RV park there, they’re probably the same thing, just two different pins in Google maps… You can boondock at the beach or park in the RV resort/park — We opted for the resort as it’s not too expensive (for US standards) and you can safely get much closer to the ocean. Plus full hookups!

      Reply
      • Paul

        There are two rv parks. Clam is less expensive and smaller lots. But more cozy. The other has more room, more expensive, but there is a hotel there as well and a younger crowd makes noise and are by the pool during high season.

        Reply
        • Paul Kortman

          I stand corrected. I never knew there was another RV park there!

          Reply
          • Richard Markovich

            what is the best route in and out from calm beach. otay mesa Hwy 2 to 201 or san yesidro hey 1

          • Paul Kortman

            Just to be clear the highway it’s on is 1D, and I took 1D from the start by San Ysidro. I don’t like the Otay crossing. It is tricky to find your way to 1D so I recommend doing it via google maps streetview first. The turn to the “Via International” can be confusing, and once I missed it and ended up on surface streets in TJ… not where I wanted to be with a 37′ foot rig (plus a 16′ trailer!!) — any mexican road with a letter D is a toll road, and generally speaking they are safer, in better condition and with fewer traffic or topes. I’ve found exceptions to this, but 1D is an especially awesome road, so I recommend it anytime.

  3. Ted Skipper

    Great pictures. I’m retired & single but very Active. I have a very expensive bus puling a open trailer with a new 4×4 Nissan truck & 15000.00 Banshee quad. My kids say I’m looking for trouble taking all this into Mexico. I love the beach & that’s the only place I know of that I can be right on the beach. They say that I’m going to get Car Jacked on the toll Road going there. Can you please give me some insite. Thank you. You can also text me at (number removed for privacy concerns – admin)

    Reply
    • Paul Kortman

      Hey Ted,

      Mexico is awesome. And yes you might be looking for trouble, but it’s not with the people :D You’re looking to have some fun!

      There are plenty of places in the Baja where you can be right on the beach, and Clam Beach RV park is one of the easiest to get to. If you want to venture further south there are plenty more options. ioverlander.com is your friend for which sites are right on the beach and if your rig can fit.

      You will not be car jacked on the toll road. It’s quite the opposite, you’ll have a very plesant experience on the toll road. Just know that it’s hard to find it at first (I missed it twice when driving through San Ysiedro. Check youtube for videos on the route… there are plenty of examples and with google streetview I think you can actually experience it first hand. GPS helps but even with GPS on I missed the exit… Driving on the city/surface streets of Tijuana can be nerve wracking with a rig… so try to avoid that if possible.

      As for the drive, it’s easy, it’s safe and it’s a good road. When driving in Mexico there are a couple of tips: Never drive at night (unless you know where ALL of the speedbumps (Topes) and potholes are, as well as the wild animals and the occasional nefarious no-good hombre). And if there’s a toll road stick to it. the abuse on your vehicle will be way more than the cost of the toll road.

      know that it will take longer than expected to get anywhere, so give yourself plenty of time.

      Thousands of people make the trek down the Baja with expensive toys and rigs and 99.9999% of them live. Some are stupid and avoid the recommendations (drive at night and off the toll roads) and run into problems.

      Going to Clam beach is easy and still within a couple hours of San Diego to get any parts/supplies you need to!

      Reply
      • AG

        My family and I went to check out Clam Beach, we loved it.We are planning on taking our 5th wheel out there next year. What route do you suggest to take to Mexico, Tijuana or Tecate?

        Reply
        • Paul Kortman

          Ya know we never tried Tecate. We tried Otay and San Ysidro. By far San Ysidro is better in all regards.

          Reply
  4. Betty Ann

    We are interested in visiting the park. We have a 28 ft motorhome and will be pulling our 12 ft enclosed motorcycle trailer. Since our only mode of transportation is the motor bike, is the road paved to get to the rv park?

    Reply
    • Paul Kortman

      It’s been a number of years since I’ve been there but from what I recall is yes indeed it is paved. It’s also very very close to the highway so it there was a section of unpaved road it’d only be 100 feet. The RV park itself is quite long so you don’t hear the highway noise. The ocean drowns it out!

      Reply

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