Biweekly mortgage payments increase the speed at which a mortgage is paid off by allowing borrowers to accelerate how quickly the principal is paid down.

Biweekly payments are made every 2 weeks or 26 times each year, not twice a month which would be 24 times per year.

Bi-weekly means every other week. Some loans offer a bi-weekly payment option, which requires 26 half payments per year (amounting to one additional full payment each year). This option allows you to pay your loan off more quickly and to build equity faster. Sometimes there are costs associated with choosing this option. [Source: free-mortgage-calculators.com]