Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2013	Dec. 31, 2012
ASSETS
Cash and Cash Equivalents	$ 4,228,000	$ 3,084,000
Restricted Cash and Cash Equivalents	5,258,000	14,914,000
Mortgage Loans Held for Sale, Net	14,040,000	73,297,000
Preferred Equity Investment, net	13,521,000	0
Derivative Investment Receivable	2,250,000	0
Real Estate Acquired through Foreclosure	204,177,000	118,971,000
Deferred Financing Costs, Net	4,960,000	4,877,000
Other Receivables	2,619,000	1,693,000
Other Assets	3,330,000	3,427,000
Property and Equipment, Net	892,000	751,000
Total Assets	255,275,000	221,014,000
LIABILITIES
Accounts Payable and Accrued Expenses	10,394,000	5,473,000
Accrued Property Taxes	6,058,000	7,063,000
Dividends Payable	0	400,000
Accrued Interest Payable	3,172,000	2,657,000
Liabilities of Assets Held for Sale	983,000	613,000
Tenant Deposits and Funds Held for Others	124,000	223,000
Convertible Notes Payable and Deferred Interest, Net of Discount	52,416,000	49,961,000
Notes Payable, Net of Discount	40,057,000	6,070,000
Capital Lease Obligation	1,279,000	0
Special Assessment Obligations	5,689,000	6,031,000
Exit Fee Payable	10,448,000	10,448,000
Total Liabilities	130,620,000	88,939,000
Commitments and Contingent Liabilities
STOCKHOLDERS' EQUITY
Common stock, $.01 par value; 200,000,000 shares authorized; 16,873,880 shares outstanding at June 30, 2013 and December 31, 2012	169,000	169,000
Preferred stock, $.01 par value; 100,000,000 shares authorized; none outstanding	0	0
Paid-in Capital	724,716,000	724,848,000
Accumulated Deficit	(600,230,000)	(592,942,000)
Total Stockholders' Equity	124,655,000	132,075,000
Total Liabilities and Stockholders' Equity	255,275,000	221,014,000
Held For Sale [Member]
ASSETS
Real Estate Acquired through Foreclosure	52,069,000	54,050,000
Held For Development [Member]
ASSETS
Real Estate Acquired through Foreclosure	47,535,000	43,006,000
Operating Properties [Member]
ASSETS
Real Estate Acquired through Foreclosure	$ 104,573,000	$ 21,915,000