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Mortgage modifications completed through private bank programs re-defaulted at a rate nearly twice as high as the government's.

More than 34% of the 129,000 private workouts completed in the first quarter of 2010 went two months without a payment within the first 12 months, according to recent data from the Office of the Comptroller of the Currency.

That compares to 19.4% of the roughly 100,200 Home Affordable Modification Program mods completed that same quarter that fell into delinquency again within a year.

"HAMP modifications have generally performed better than .....read more.

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