OPERATING PROPERTIES AND REAL ESTATE HELD FOR DEVELOPMENT OR SALE (Details Textual) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016 USD ($) unit	Sep. 30, 2015 USD ($)	Sep. 30, 2016 USD ($) Loan unit Property	Sep. 30, 2015 USD ($) Loan Property	Mar. 31, 2016 unit	Dec. 31, 2015 USD ($) unit	Dec. 31, 2014 USD ($)	Oct. 31, 2014 USD ($)
Mortgage Loans on Real Estate [Line Items]
Total	$ 150,640		$ 150,640			$ 152,867
Other Real Estate Owned	15,459		$ 15,459			27,701
Number Of real estate properties sold (in properties) | Property			6	20
Proceeds from sales of real estate			$ 3,400
Sale of mortgage loans			3,287
Net gain (loss) on sales of investment real estate			(100)	$ 100
Proceeds from sale of foreclosed assets				$ 28,200
Face amount of mortgages financed	13,052		$ 13,052
Number of mortgage loans sold (in loans) | Loan			1	4
Fair value of interest in real estate assets	6,300		$ 6,300
Net Income Attributable to Noncontrolling Interests	(19)	$ 0	(92)	$ 586
Investment in real estate owned			10,660	19,897
Real estate operating expenses	6,700	6,000	19,400	18,800
Income (loss) before Income Taxes	(4,930)	(6,006)	(14,220)	(3,237)
Tax Increment Financing Receivable, Assets Held for Sale	2,687		2,687			$ 0
Economic Development Assistance Advances			576	0
Debt forgiven			858	0
Basis adjustment for TIF receivable and liability forgiveness			4,118
Hotel Capital Improvements [Domain]
Mortgage Loans on Real Estate [Line Items]
Costs for capital improvements	$ 11,200		11,200
Capital Improvements During Period			$ 5,000
IMH Gabella [Member]
Mortgage Loans on Real Estate [Line Items]
Ownership interest (percent)							90.00%
Noncontrolling ownership interest in joint venture (percent)							7.00%
Additional ownership interest available to noncontrolling interests (percent)							3.00%
Available borrowing capacity							$ 24,000	$ 24,000
Construction project equity contribution		11,500		11,500
Number of Units in Real Estate Property | unit	196		196		98	98
Fair value of future obligation of sale profit participation	$ 700		$ 700
Percent of total assets	16.90%		16.90%
Tax Increment Financing Receivable, Assets Held for Sale	$ 2,700		$ 2,700
Economic Development Assistance Advances	600
Debt forgiven	$ 800
Annual interest rate on note receivable	5.00%
Basis adjustment for TIF receivable and liability forgiveness	$ 4,100
Profit sharing percentage payable to noncontrolling interest	10.00%
Operating Properties and REO Assets [Member]
Mortgage Loans on Real Estate [Line Items]
Total	$ 150,600		150,600
Real Estate Held For Development [Member]
Mortgage Loans on Real Estate [Line Items]
Total	0		0			$ 3,664
Basis adjustment for TIF receivable and liability forgiveness			0
Real Estate Held For Sale [Member]
Mortgage Loans on Real Estate [Line Items]
Total	45,874		45,874			5,346
Basis adjustment for TIF receivable and liability forgiveness			(4,118)
Operating Properties [Member]
Mortgage Loans on Real Estate [Line Items]
Total	89,307		89,307			$ 116,156
Basis adjustment for TIF receivable and liability forgiveness			0
Mortgage and REO - Legacy Portfolio and Other Operations [Member]
Mortgage Loans on Real Estate [Line Items]
Net Income Attributable to Noncontrolling Interests	0		0	586
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	$ 100	$ (100)	$ (600)	$ (200)