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OPERATING PROPERTIES AND REAL ESTATE HELD FOR DEVELOPMENT OR SALE (Details Textual)
3 Months Ended 6 Months Ended
Jun. 30, 2016
USD ($)
Jun. 30, 2015
USD ($)
Loan
Jun. 30, 2016
USD ($)
Loan
Property
Jun. 30, 2015
USD ($)
Property
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Mortgage Loans on Real Estate [Line Items]            
Total $ 155,725,000   $ 155,725,000   $ 152,867,000  
Other Real Estate Owned 15,577,000   $ 15,577,000   27,701,000  
Number Of real estate properties sold (in properties) | Property     5 17    
Proceeds from sales of real estate     $ 3,300,000      
Sale of mortgage loans     3,287,000      
Net gain (loss) on sales of investment real estate     (100,000) $ 200,000    
Proceeds from sale of foreclosed assets       11,600,000    
Face amount of mortgages financed 13,044,000   $ 13,044,000      
Number of mortgage loans sold (in loans) | Loan   2 1      
Fair value of interest in real estate assets 6,400,000   $ 6,400,000      
Net Income Attributable to Noncontrolling Interests (18,000) $ 586,000 (73,000) 586,000    
Investment in real estate owned     8,250,000 16,196,000    
Real estate operating expenses 6,900,000 6,900,000 12,600,000 12,800,000    
Income (loss) before Income Taxes (4,525,000) 5,181,000 (9,290,000) 2,769,000    
Hotel Capital Improvements [Domain]            
Mortgage Loans on Real Estate [Line Items]            
Costs for capital improvements $ 11,100,000   11,100,000      
Capital Improvements During Period     $ 4,800,000      
IMH Gabella [Member]            
Mortgage Loans on Real Estate [Line Items]            
Ownership interest (percent)           93.00%
Noncontrolling ownership interest in joint venture (percent) 7.00%   7.00%     7.00%
Additional ownership interest available to noncontrolling interests (percent) 3.00%   3.00%     3.00%
Available borrowing capacity           $ 24,000,000
Construction project equity contribution   11,500,000   11,500,000    
Fair value of future obligation of sale profit participation $ 700,000   $ 700,000      
Percent of total assets 17.70%   17.70%      
Operating Properties and REO Assets [Member]            
Mortgage Loans on Real Estate [Line Items]            
Total $ 155,700,000   $ 155,700,000      
Real Estate Held For Development [Member]            
Mortgage Loans on Real Estate [Line Items]            
Total 0   0   3,664,000  
Real Estate Held For Sale [Member]            
Mortgage Loans on Real Estate [Line Items]            
Total 50,460,000   50,460,000   5,346,000  
Operating Properties [Member]            
Mortgage Loans on Real Estate [Line Items]            
Total 89,688,000   89,688,000   $ 116,156,000  
Mortgage and REO - Legacy Portfolio and Other Operations [Member]            
Mortgage Loans on Real Estate [Line Items]            
Net Income Attributable to Noncontrolling Interests (18,000) 586,000 (73,000) 586,000    
Commercial and Residential Leasing Operations [Member] | Mortgage and REO - Legacy Portfolio and Other Operations [Member]            
Mortgage Loans on Real Estate [Line Items]            
Income (loss) before Income Taxes $ (300,000) $ (100,000) $ (700,000) $ 20,000