DEAR BRUCE: Can you tell me your thoughts on owning versus renting? My girlfriend thinks that renting is throwing money out the door. I think that there are more costs to owning than she realizes. -- Mike, via e-mail

DEAR MIKE: I don't know what your girlfriend is thinking unless she has the ability to throw out a tent in the park: Some way or another, she has to pay for shelter. Often, renting is a great deal less expensive than home ownership. There is a whole generation out there, up until a short time ago, that was persuaded that real estate has to go up in value. There are a lot of folks out there are finding out the hard way that's not necessarily true. In other words, you would owe more on a house or condo than it is worth. Tens of thousands of people are in that position right now. You have to objectively start to figure the costs involved. In the case of a house, not only the monthly payment, the lost interest on the down payment, insurance, taxes, maintenance, utilities and all of the other costs, often time exceeding by a great deal what you would pay per month for a rental. As a matter of fact, renting has been one of America's best-kept secrets. Many times over the last several years, the guy renting and saving the difference between all of the costs in owning is way ahead. On the other side of that, right now there are a great many solid real estate bargains out there. This is not a simple equation, but to find the right solution it is necessary to consider all of the factors that I have mentioned.

DEAR BRUCE: I have a large sum of money in a money market account. Are these accounts insured by the FDIC like a bank account? -- Joe, via e-mail

DEAR JOE: Absolutely no way is the FDIC (Federal Deposit Insurance Corp.) insuring your money market account unless it is in a bank that calls a deposit a "money market." If your money market account is with a broker, the likelihood is that it is covered by the SIPC (Securities Investor Protection Corp.). You can find out how much coverage your broker carries on clients' accounts. FDIC insurance is restricted entirely to banking institutions.

DEAR BRUCE: My son had a new house built in Palm Bay, Fla., in 2005. His income is very good and stable. The problem is as follows. His mortgage is $200,000, 5/1 ARM at 6 percent. It is now worth $125,000. I recently spoke with the bank to try and restructure the mortgage. They didn't offer any help! What are my obligations, liabilities or incentives to continue my mortgage payments? I can make the payments with no problem, but it's the attitude of the bank that irks me. I looked at government programs for homeowners who have seen there values shrink, but the programs do not help the people who have great credit, no late payments and are good working-class citizens. -- John, in Florida

DEAR JOHN: I'm confused. You say your son had a house built in Palm Bay, and then you revert to the first person ("you can make payments, etc."). The fact that the home is well under water by $75,000 is not uncommon, since this home was purchased somewhere near the top of the super-inflated values. The mortgage lender is caught in a tough spot, too. What can you expect them to do? Their collateral has now been reduced by almost 50 percent. You say you can make the payments. What type of incentive are you looking for? I know that there have been some programs put forward that would reduce the overall indebtedness. However, on a relative basis, very few of these programs have come to fruition. You might wish to talk to your local congressional office, explain your circumstances and ask them to provide them with information on all federally financed programs that might fit. Meanwhile, walking away is going to destroy whoever is on the bond. Further, if that individual, you or your son, has other assets, then the lender can then go after them on the shortfall or deficiency. I know this is hard to swallow, but don't act in haste, and know exactly what you are going to do and understand it. If the family is planning on staying in this house for 10 or 12 years, the likelihood is that it will recapture that lost paper value over that period of time.