WASHINGTON — The Obama administration today expanded its $50 billion mortgage aid program, announcing new measures that would help homeowners avoid a foreclosure if they don't qualify for other assistance.

The new initiatives are expected to streamline the process of selling a home that is worth less than the mortgage, or transfer ownership of a home to the lender. Both options will still ding the homeowner's credit score, but less than a foreclosure.

Since the program, called Making Home Affordable, was launched in March, Mortgage companies have made more than 55,000 offers to modify borrowers' loans.

"We're seeing the first signs of homeowners being able to take advantage of lower monthly payments that the program makes possible," said Treasury Secretary Timothy Geithner.

While the number of success stories is growing, it pales compared to the rate of new foreclosures, and many housing counselors across the country are complaining that the Making Home Affordable is taking off slowly.