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

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 persons and families in rural areas; (2) rural communities with 10,000 to 20,000 population to participate in rural housing programs; and (3) mutual and self-help housing grant and loan authority.

Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones through FY 1987.

Amends the National Housing Act to extend authorities for the national crime insurance program and existing contracts through FY 1987.

Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through FY 1987.

Amends the Housing and Urban-Rural Recovery Act of 1983 to extend for 30 days the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families through FY 1987.

Extends the Home Mortgage Disclosure Act through FY 1987.