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Some second mortgage loans may extend for as long as 15 or 20 years; others may require repayment in one year. You will need to discuss the repayment terms with the individual mortgage company and select one that offers terms that best suit your needs. For example, if you need to borrow $20,000 to make repairs on your home, you may not want a loan that requires you to repay the entire amount in one or two years because the monthly payments may be too high.

ALEXANDRIA, Va. (Reuters) - A federal judge on Thursday approved bankrupt US Airways' (UAIRQ.OB: Quote , Profile , Research ) cash finance deal with a federal government board and another arrangement allowing the airline to take delivery of nine regional jets. The Air Transportation Stabilization Board is allowing US Airways to extend its use of cash proceeds from a federal loan through June 30. The No. 7 U.S. airline has said it plans to emerge from bankruptcy by June 30.

A bridge loan is a type of short-term loan in the financial industry. Bridge loans are typically taken out for a period of 2 weeks to 3 years in order to finance other projects. Uses for bridge loans include real estate purchases, retrieving real estate from foreclosure and business loans for operating capital.

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