Questions about refinancing a mortgage are among the hottest we're getting on the show right now. Today Clark spoke to one caller and shared a few tips to make the process as smooth as possible.

If you're in the market for a refi, begin by visiting myFICO.com and getting your true credit score. In the example of today's caller, she had a score of 703 and her husband's score was 824. Clark recommended they try to qualify for the refi on his income alone; most lenders will base your rate on the lower score if you're a couple.

Who can you go to for a refi? Clark recommended checking with a local bank or credit union. You'll want to get quotes from multiple lenders. And you may even want to get an online quote to use as leverage in negotiations. Whatever you do, be sure to get all quotes within a 14-day window to avoid damaging your credit.

Make sure you're prepared with all the paperwork that will be required of you…and it's going to be a lot. At the very least, you'll need to have your tax returns handy.

Finally, if you're waiting on the sidelines for rates to drop another quarter of a point, stop it! Even Clark's own predictions of months to come of ultra-low interest rates look like they're not going to pan out. Now is the time to strike.