Biweekly mortgage payments can help homeowners pay off their loans faster and save on interest, as they involve making payments every two weeks, resulting in 13 payments per year instead of the usual 12. This method can build equity more quickly but requires careful budgeting and commitment. Potential drawbacks include financial strain and possible prepayment penalties. Alternatives to consider include rounding up monthly payments, applying extra funds, or making an additional annual payment. It's essential to review your budget and goals before deciding on a repayment method.