The federal government's Home Affordable Modification Program has a lot of work left to do if it hopes to catch up to the private sector. HAMP, with its promise of helping up to 4 million homeowners avoid foreclosure, completed 36,695 modifications in July. In the same period, private mortgage programs completed 120,351 – more than three times the federal program's rate. The numbers were tabulated by Hope Now, a private sector consortium of servicers and other mortgage counselors who offer alternatives to HAMP. So why is it that so few homeowners are taking advantage of the government's mod program? It's not for lack of trying: Including both HAMP and private program figures, servicers completed 1.13 million modifications so far this year -- a far cry from 4 million, and that's not counting the thousands who have dropped out of the program.

Still trying to decide which is right for you? Here are some AOL Real Estate guides to help you no matter whether you choose to buy or rent:

• How to Shop for Your First Home
  
• Tips for Finding a Rental Apartment
  

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