Which of the following describes a bi-weekly payment method?

The bi-weekly payment method is defined by making payments every two weeks. When a borrower chooses this method, the typical approach is to take the amount of the monthly mortgage payment and divide it by two. This results in smaller payments being made more frequently, which in turn helps to reduce the principal balance more quickly as a result of making an additional payment each year.

By making these payments every two weeks instead of just monthly, the homeowner essentially makes 26 payments in a year (52 weeks in a year divided by 2). This extra payment can significantly decrease the overall interest paid over the life of the loan and help to pay off the mortgage faster.

The other options outline different payment structures that do not align with the definition of bi-weekly payments. Payments every two months, every three weeks, or every week do not accurately describe the bi-weekly payment method, which is specifically tied to the bi-weekly schedule outlined in option C.