A bill to give the Government National Mortgage Association -Ginnie Mae- the legal authority to forgive outstanding mortgage payments on Lanham Act properties where it is shown that the property was sold at a price higher than the appraised market value.

Amends the Federal National Mortgage Association Charter Act to authorize the Government National Mortgage Association (Ginnie Mae) to forgive outstanding mortgage payments on specified properties to the extent that such properties were sold at a price higher than the appraised market value.