Cash and Restricted Cash

6 Months Ended

Jun. 30, 2012

Cash and Restricted Cash [Abstract]

Cash and Cash Equivalents Disclosure [Text Block]

Cash and Restricted Cash

The table below is a summary of our cash balances at June 30, 2012 and December 31, 2011:

(In thousands)	June 30, 2012		December 31, 2011
Homebuilding	$	27,914	$	43,539
Financial services	16,383		16,254
Unrestricted cash and cash equivalents	$	44,297	$	59,793
Restricted cash	12,593		41,334
Total cash, cash equivalents and restricted cash	$	56,890	$	101,127

Restricted cash at June 30, 2012 consists of homebuilding cash the Company had pledged as collateral in accordance with the five secured credit agreements for the issuance of letters of credit outside of the Credit Facility to which the Company is a party (collectively, the "Letter of Credit Facilities"). The reduction in restricted cash at June 30, 2012 compared to December 31, 2011 was primarily the result of an amendment dated January 31, 2012 (the "2012 Amendment") to the Company's $140 million secured revolving credit facility (the "Credit Facility"). As a result of the 2012 Amendment, the Company was able to release $25.0 million of restricted cash that had been pledged to the lenders under the Credit Facility.