GriotPay Refinancing

How Can GriotPay™ Refinancing Affect Your Finances?

When you refinance your Web Property, you replace your current GriotPay™ agreement with a new one of different terms. In practice, refinancing is the process of paying off your current loan with a new one. This process can have different outcomes for different Web Property owners. So, before refinancing, make sure you understand your motivations for refinancing and the outcomes you are seeking.

Some Reasons for Refinancing Your GriotPay Plan

Refinancing allows your Web Property to stay online while you are making payments to satisfy the cost of the package to become sole owner of the property. There are many reasons why you may need to refinance your GriotPay agreement. Some reasons given by other Clients are:

1. To lower monthly payments.
2. To adjust the loan term lengths.
3. To upgrade Web Property package.

Lower Your Monthly Payments

If your current GriotPay payments are becoming too difficult to make, refinancing may be the way to go. You can get a lower monthly payment plan by extending your loan term. This is the best way to lower your GriotPay payments dramatically because you are extending the number of months over which you pay for your Web Property. Of course, there are pros and cons to any payment option. The main change you should be aware of is:

Pros: Refinancing your GriotPay will lower your payments so that you can continue to pay off your Web Property as intended.

Cons:Extending your credit term will increase the total cost of your Web Property package. The longer your terms are, the higher your interest rate is.

Example of How Refinancing Works to Lower Your Monthly Payments

You purchased a Web Property for $2,000 and project to pay it off over a 6-months period at a daily interest rate of 0.8334% (APR).

Web Property package: $2,000.00
GriotPay Terms: 6 months
Daily Interest Rate: 0.8334%
Total Package: $2,150.00
Monthly Payments: $358.33

3 months later, you decide to apply for refinancing because you would like to reduce your monthly payments. You request to extend your payments over a 12 month period.

Web Property package: $2,000.00
GriotPay Terms: 12 months
Daily Interest Rate: 1.11%
Total Package: $2,405.15
New Monthly Payments: $200.43

Once you submit your refinance request form and it is approved, your current agreement will be canceled, and a new GriotPay agreement will be created to include the new terms.

Refinancing to Upgrade Your Web Property Package

We offer free upgrades with our GriotPay plans. You don't have to wait until your current agreement is satisfied. If you decide during your payment schedule to upgrade your package, you can submit an upgrade request using our request form. Once approved, your current agreement will be canceled, and a new GriotPay agreement will be created to include the new terms.

What happens to the monies already paid on my current GriotPay account?

Whatever monies you previously paid towards your Web Property package will be applied to your new agreement. This does not include financial monies paid to finance your Web Property. Those monies are strictly allocated towards the maintenance of each Client who uses our services. GriotPay monies are non-refundable. In an event of an overpayment, the remaining funds will be entered in as credit to the Client's account.

GriotSites upgrades restrictions

Extensions do not qualify for the 90 days same as cash
3-month extensions follow the same terms as the 6-month payment terms.

What is GriotPay?
Apply for Payment Agreement
View Payment Agreement Contract
Payment Terms
More Frequently Asked Questions
How to get an early Buyout
How to Cancel Payment Agreement
How to reinstate a Suspended Account

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