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GLOSSARY
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Biweekly Accelerated Mortgage
A mortgage repaid in biweekly payments. A biweekly payment is equal to one-half the regular monthly payment. This reduced payment is then paid biweekly or 26 times per year. Under this accelerated plan, the borrower pays off more principal than a borrower making monthly payments.
Blanket Mortgage
A mortgage covering more than one property of the mortgagor, such as a mortgage covering all the lots in a subdivision.
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