President Obama announced Wednesday that it would extend an additional $3 billion to support foreclosure-prevention programs, assisting unemployed homeowners facing foreclosure.

Consumer-lending and housing advocates applauded the administrations expansion of housing aid to the unemployed. "The biggest single cause of foreclosure today is loss of income or employment-related issues," said Barry Zigas, director of housing policy for the Consumer Federation of America.

The new programs will reach beyond the administration's loan-modification program, which was designed to counter the subprime crisis and offers little assistance to the unemployed. The new program extends a no-interest loan of up to $50,000 to assist homeowners with mortgage payments until they become financially stable.

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