A bill to provide emergency relief to low- and moderate-income families who, due to current economic conditions, are threatened with eviction from federally insured multifamily housing projects.

Directs the Secretary of Housing and Urban Development or any other officer or agency of the United States to refrain from instituting or proceeding with any action for foreclosure on any multifamily property covered by a mortgage insured pursuant to any of the provisions of the National Housing Act until 60 days after the date on which the Secretary reports to the Congress on the current default status and projected default trends with respect to mortgages covering multifamily properties insured under the provisions of the Act.