Posted in Finance, Accounting and Economics Terms, Total Reads: 701
Definition: Biweekly Mortgage
A mortgage loan repayment schedule where the borrower makes payments every two weeks instead of making it in monthly instalments. The biweekly amount paid is half of the monthly amount due. It might be taken by borrowers to save money over the life of the insurance or due to liquidity constraints on part of borrower which prevent large, one time payments.