Cash and Restricted Cash

12 Months Ended

Dec. 31, 2011

Cash and Restricted Cash [Abstract]

Cash and Cash Equivalents Disclosure [Text Block]

Cash, Cash Equivalents and Restricted Cash

The table below is a summary of our cash, cash equivalents and restricted cash balances at December 31, 2011 and December 31, 2010:

	December 31,
(In thousands)	2011		2010
Homebuilding	$	43,539	$	71,874
Financial services	16,254		9,334
Unrestricted cash and cash equivalents	$	59,793	$	81,208
Restricted cash	41,334		41,923
Total cash, cash equivalents and restricted cash	$	101,127	$	123,131

Restricted cash consists of homebuilding cash the Company had designated as collateral at December 31, 2011 and December 31, 2010 in accordance with the four secured Letter of Credit Facilities that were entered into in July 2009 and the one secured Letter of Credit Facility that was entered into in June 2010 (collectively, as amended, the “Letter of Credit Facilities”). Restricted cash as of December 31, 2011 also consists of $25.0 million the Company was required to pledge as security to the lenders under the Company's $140 million secured revolving credit facility, dated June 9, 2010 (the "Credit Facility"). The security pledge was required in accordance with the terms of the credit agreement, dated June 9, 2010 (the "Credit Agreement"), as a result of the Company's ratios being less than both the required minimum Interest Coverage Ratio and the minimum Adjusted Cash Flow Ratio (as such terms are defined in the Credit Agreement) for the quarters ended June 30, 2011, September 30, 2011, and December 31, 2011. Restricted cash also includes cash held in escrow of less than $0.1 million and $3.1 million at December 31, 2011 and December 31, 2010, respectively.