Thinking about refinancing? Here's what you need to know

Mortgage rates hit an all-time low recently. That has prompted a flurry of homeowners to refinance. Others may be waiting things out or need to know more before proceeding. They may be asking themselves: How does refinancing work? And what is refinancing a home all about?

The refinancing process isn’t much different from what was involved when you first purchased your home and closed on a mortgage. Understanding how refinancing works and the options available to you can put you in a better position to make a more informed decision. To help guide your choices, read my first article for new client Bankrate.com, available here.