A bill to amend the National Housing Act to authorize the insurance of loans to defray mortgage payments on homes owned by persons who are temporarily unemployed.

Authorizes the insurance of loans under the National Housing Act to defray mortgage payments on homes owned by persons who are temporarily unemployed. Creates a Homeownership Conservation Loan Insurance Fund to be used by the Secretary of Housing and Urban Development as a revolving fund for carrying out the loan insurance obligations arising under the Act.