A bill to direct the Secretary of Housing and Urban Development to prevent the foreclosure of one- to four-family mortgages insured under title II of the National Housing Act.

Amends the National Housing Act to require the Secretary of Housing and Urban Development, in order to avoid foreclosure of a federally-insured mortgage on a one-to four-family residence, to: (1) make temporary mortgage payments for an individual who defaults on such a mortgage; or (2) purchase the mortgage and provide mortgage assistance to such individual. (Currently such authority is discretionary.) Limits the interest charge on such assistance payments.

Declares that expenditures from the appropriate mortgage insurance fund to make such temporary mortgage assistance payments do not require prior approval in appropriation acts. Authorizes appropriations for losses sustained by such fund.