A joint resolution to provide for the temporary extension of certain programs relating to housing and community development, and for other purposes.

[AI summary unavailable — showing source text] Amends the National Housing Act to extend authority through FY 1987 for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) homeownership for lower income families including mortgage insurance authority and housing stimulus authority; (5) mortgage co-insurance, including rental rehabilitation and development projects; (6) graduated payment and indexed mortgage insurance; (7) the demonstration mortgage reinsurance program; (8) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (9) mortgage insurance for land development; and (10) mortgage insurance for medical and dental group practice facilities. Sets forth specified limits on FY 1986 and 1987 insured housing loans and on FY 1987 guaranteed mortgage-backed securities. Amends the Housing Act of 1964 to extend urban rehabilitation loan authority through FY 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through FY 1987 for: (1) insured loans for rental and cooperative housing and related facilities for elderly per…