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Unaudited Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
CASH FLOWS - OPERATING ACTIVITIES    
Net loss $ (15,471) $ (22,225)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash Recovery of Credit Losses (6,975)  
Stock-Based Compensation and Option Amortization 434  
(Gain) Loss on Disposal of Assets (952)  
Amortization of Deferred Financing Costs 1,607  
Depreciation and Amortization Expense 2,062  
Investment Discount Amortization (669)  
Accretion of Discount on Note Payable 1,521  
Increase (decrease) in cash resulting from changes in:    
Accrued Interest Receivable 275  
Other Receivables (356)  
Other Assets (112)  
Accrued Property Taxes (372)  
Accounts Payable and Accrued Expenses 1,342  
Accrued Interest Payable 3,065  
Liabilities of Assets Held for Sale 772  
Tenant Deposits and Funds Held for Others 11  
Total adjustments, net 1,653  
Net cash used in operating activities (13,818)  
CASH FLOWS - INVESTING ACTIVITIES    
Proceeds from Sale/Recovery of Real Estate Owned 6,499  
Purchases of Property and Equipment (246)  
Mortgage Loan Fundings and Protective Advances (473)  
Mortgage loan repayments 8,617  
Preferred Equity Investment (15,000)  
Investment in Real Estate Owned (1,643)  
Capitalize foreclosure acquisition costs (2,473)  
Net cash provided by (used in) investing activities (4,719)  
CASH FLOWS - FINANCING ACTIVITIES    
Proceeds from Notes Payable 10,150  
Debt Issuance Costs (1,073)  
Decrease in Restricted Cash 10,195  
Repayments of Notes Payable (1,251)  
Repayment Capital Lease Obligation 45  
Dividends Paid (800)  
Net cash provided by financing activities 17,176  
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (1,361)  
Cash and Cash Equivalents, Beginning of Period 3,084  
Cash and Cash Equivalents, End of Period 1,723  
SUPPLEMENTAL CASH FLOW INFORMATION    
Interest paid 12,757  
Real Estate Acquired Through Foreclosure 91,380  
Deferred Interest added to Notes Payable Principal 2,205  
Seller Financing provided for Asset Sales 1,085  
Accounts Payable and Accrued Liabilities Assumed in Foreclosure 3,382  
Capital Lease Obligation Assumed in Foreclosure 1,279  
Note Payable Financing for Land Purchase 24,712  
As Restated [Member]
   
CASH FLOWS - OPERATING ACTIVITIES    
Net loss   (22,225)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash Recovery of Credit Losses   (275)
Stock-Based Compensation and Option Amortization   470
(Gain) Loss on Disposal of Assets   (591)
Amortization of Deferred Financing Costs   933
Depreciation and Amortization Expense   2,076
Investment Discount Amortization   0
Accretion of Discount on Note Payable   1,893
Increase (decrease) in cash resulting from changes in:    
Accrued Interest Receivable   (74)
Other Receivables   3,614
Other Assets   (1,501)
Accrued Property Taxes   (535)
Accounts Payable and Accrued Expenses   (2,381)
Accrued Interest Payable   3,735
Liabilities of Assets Held for Sale   (736)
Tenant Deposits and Funds Held for Others   (513)
Total adjustments, net   6,115
Net cash used in operating activities   (16,110)
CASH FLOWS - INVESTING ACTIVITIES    
Proceeds from Sale/Recovery of Real Estate Owned   11,544
Purchases of Property and Equipment   (329)
Mortgage Loan Fundings and Protective Advances   (1,622)
Mortgage loan repayments   7,283
Preferred Equity Investment   0
Investment in Real Estate Owned   (844)
Capitalize foreclosure acquisition costs   0
Net cash provided by (used in) investing activities   16,032
CASH FLOWS - FINANCING ACTIVITIES    
Proceeds from Notes Payable   0
Debt Issuance Costs   (159)
Decrease in Restricted Cash   1,575
Repayments of Notes Payable   0
Repayment Capital Lease Obligation   0
Dividends Paid   (1,306)
Net cash provided by financing activities   110
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS   32
Cash and Cash Equivalents, Beginning of Period   1,168
Cash and Cash Equivalents, End of Period   1,200
SUPPLEMENTAL CASH FLOW INFORMATION    
Interest paid   3,764
Real Estate Acquired Through Foreclosure   33,264
Deferred Interest added to Notes Payable Principal   2,131
Seller Financing provided for Asset Sales   5,500
Accounts Payable and Accrued Liabilities Assumed in Foreclosure   0
Capital Lease Obligation Assumed in Foreclosure   0
Note Payable Financing for Land Purchase   $ 0