United Development Funding IV (UDFI) 10-Q/A 30 Apr 14 2013 Q2 Quarterly report (amended) Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Jun. 30, 2013	Aug. 01, 2013
Document Information [Line Items]	'	'
Entity Registrant Name	'United Development Funding IV	'
Entity Central Index Key	'0001440292	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Trading Symbol	'UDF	'
Entity Common Stock, Shares Outstanding	'	31,500,273
Document Type	'10-Q	'
Amendment Flag	'true	'
Document Period End Date	30-Jun-13	'
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2013	'
Amendment Description	'On April 15, 2014, United Development Funding IV (which may be referred to as the “Trust,” “we,” “us,” “our,” or “UDF IV”) filed its Annual Report on Form 10-K for the year ended December 31, 2013 (the “2013 Form 10-K”), in which we restated our previously issued (i) consolidated balance sheets included in our Annual Reports on Form 10-K as of December 31, 2012, 2011, 2010 and 2009 and (ii) consolidated statements of operations, consolidated statements of changes in shareholders’ equity, and consolidated statements of cash flows for the years ended December 31, 2012, 2011, 2010 and 2009 (the “Restatement”). The error that required us to restate the annual financial statements referred to above materially impacted each of our quarters beginning with the quarter ended March 31, 2010 through the quarter ended September 30, 2013. As a result, we intend to restate our previously issued (i) consolidated balance sheets, (ii) consolidated statements of operations and (iii) consolidated statements of cash flows included in our quarterly reports on Form 10-Q for the quarters ended March 31, 2013, June 30, 2013 and September 30, 2013. On April __, 2014, we filed an amendment to our previously filed quarterly report on Form 10-Q for the quarter ended March 31, 2013 to restate the quarterly financial statements for the quarter ended March 31, 2013. We intend to present restated quarterly financial statements in this Amended Form 10-Q for the quarter ended June 30, 2013 (the “Amended Form 10-Q”) and in an amendment to our previously filed quarterly report on Form 10-Q for the quarter ended September 30, 2013. We do not intend to amend our previously filed quarterly reports on Form 10-Q for the quarters ended March 31, 2010 through September 30, 2012; however, as we reported in our Current Report on Form 8-K filed on April 4, 2014, the financial statements included in our quarterly reports on Form 10-Q for each of the periods beginning with the quarter ended March 31, 2010 through September 30, 2013 should not be relied upon. The Restatement arose in connection with our previous application of the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Subtopic 310-20, Nonrefundable Fees and Other Costs (“ASC 310-20”). We incur acquisition and origination fees, payable to UMTH Land Development, L.P. (“UMTH LD”), a Delaware limited partnership and the affiliated asset manager of the Trust, equal to 3% of the net amount available for investment in secured loans and other real estate assets (“Acquisition and Origination Fees”). From the year ended December 31, 2009 through the quarter ended September 30, 2013, we capitalized Acquisition and Origination Fees incurred and amortized them into expense on a straight-line basis over our expected economic life. U.S. generally accepted accounting principles (“GAAP”) guidance in FASB ASC 310-20 requires direct loan origination costs, including the portion of total compensation paid to employees engaged in direct loan origination activities, to be capitalized and amortized into expense over the life of the related loan, provided that records are available in sufficient detail to reliably determine the amount of qualifying direct loan origination costs incurred. In our case, employees of UMTH LD were performing loan origination activities in consideration for our payment of Acquisition and Origination Fees. However, UMTH LD did not maintain (and we did not require them to maintain) contemporaneous, sufficiently detailed time records on a loan by loan basis for all years that would provide evidence of the amount of time allocable to direct loan origination activities and thus the amount of Acquisition and Origination Fees allowable for deferral under ASC 310-20. Therefore, we have concluded that we were unable to reasonably determine the amount of Acquisition and Origination Fees allowable for deferral under ASC 310-20. As a result, we have restated our previously issued financial results to expense the Acquisition and Origination Fees as incurred, rather than capitalizing and amortizing them into expense over the life of the loan. This Amended Form 10-Q includes restated information as of December 31, 2012 and for the three and six month periods ended June 30, 2013 and June 30, 2012. On April __, 2014, we filed our amended quarterly report on Form 10-Q for the quarter ended March 31, 2013. We are in the process of preparing an amendment to our quarterly report on Form 10-Q for the quarter ended September 30, 2013, and we intend to file that amendment as soon as practicable. Other than in connection with the Restatement, we have not undertaken to modify or update the disclosures contained in the originally filed quarterly report on Form 10-Q for the three and six month periods ended June 30, 2013 (the “Original Form 10-Q”). Accordingly, for information regarding events related to us and our business that have occurred subsequent to June 30, 2013, please review our 2013 Form 10-K and other filings we have made with the U.S. Securities and Exchange Commission (the “SEC”), which can be accessed at www.sec.gov. For the convenience of the reader, this Amended Form 10-Q sets forth the Original Form 10-Q in its entirety as amended by and to reflect the Restatement; however, only the following items have been amended: Part I – Item 1 — Financial Statements; Part I – Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations; Part I – Item 4 — Controls and Procedures; Part II – Item 1A — Risk Factors; and Part II – Item 6 — Exhibits. In addition, as a result of this amendment to the Original Form 10-Q and in accordance with applicable SEC rules, the management certifications, filed as exhibits to the Original Form 10-Q, have been re-executed and re-filed as of the filing date of this Amended Form 10-Q.	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2013	Dec. 31, 2012
Assets	'	'
Cash and cash equivalents	$155,870,227	$23,225,858
Accrued interest receivable	11,254,340	7,267,604
Accrued receivable - related parties	5,943,276	1,980,274
Loan participation interest - related parties, net	26,771,585	29,393,316
Notes receivable, net	317,326,236	239,972,601
Notes receivable - related parties, net	27,777,449	27,786,215
Deferred offering costs	0	5,050,715
Investor subscriptions receivable	944,773	1,137,357
Other assets	1,118,842	665,127
Total assets	547,006,728	336,479,067
Liabilities and Shareholders’ Equity	'	'
Accrued liabilities	198,669	208,853
Accrued liabilities - related parties	869,201	6,229,710
Distributions payable	2,513,039	1,956,226
Lines of credit	12,253,190	28,688,003
Notes payable	0	5,095,523
Total liabilities	15,834,099	42,178,315
Commitments and contingencies	'	'
Shareholders’ equity:	'	'
Shares of beneficial interest; $0.01 par value; 400,000,000 shares authorized; 31,604,023 shares issued and 31,426,292 shares outstanding at June 30, 2013, and 17,624,839 shares issued and 17,500,308 shares outstanding at December 31, 2012	316,040	176,248
Additional paid-in-capital	552,165,351	308,069,721
Accumulated deficit	-17,754,622	-11,455,079
Shareholders’ equity before treasury stock	534,726,769	296,790,890
Less: Treasury stock, 177,731 shares at June 30, 2013 and 124,531 shares at December 31, 2012, at cost	-3,554,140	-2,490,138
Total shareholders’ equity	531,172,629	294,300,752
Total liabilities and shareholders’ equity	$547,006,728	$336,479,067

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $)	Jun. 30, 2013	Dec. 31, 2012
Shares of beneficial interest, par value (in dollars per share)	$0.01	$0.01
Shares of beneficial interest, shares authorized	400,000,000	400,000,000
Shares of beneficial interest, shares issued	31,604,023	17,624,839
Shares of beneficial interest, shares outstanding	31,426,292	17,500,308
Treasury stock, shares	177,731	124,531

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Interest income:	'	'	'	'
Interest income	$9,592,776	$4,643,567	$17,977,852	$8,482,749
Interest income - related parties	1,859,564	1,270,512	3,754,823	2,495,882
Total interest income	11,452,340	5,914,079	21,732,675	10,978,631
Interest expense:	'	'	'	'
Interest expense	382,296	378,689	856,677	798,684
Net interest income	11,070,044	5,535,390	20,875,998	10,179,947
Provision for loan losses	465,062	239,231	880,761	442,307
Net interest income after provision for loan losses	10,604,982	5,296,159	19,995,237	9,737,640
Noninterest income:	'	'	'	'
Commitment fee income	253,423	103,105	472,317	181,914
Commitment fee income - related parties	49,389	13,825	105,021	25,640
Total noninterest income	302,812	116,930	577,338	207,554
Noninterest expense:	'	'	'	'
Advisory fee - related party	1,834,678	911,397	3,476,245	1,686,613
General and administrative	405,736	281,777	667,564	456,492
General and administrative - related parties	2,532,685	1,138,152	3,452,699	1,603,256
Total noninterest expense	4,773,099	2,331,326	7,596,508	3,746,361
Net income	$6,134,695	$3,081,763	$12,976,067	$6,198,833
Net income per weighted average share outstanding (in dollars per share)	$0.23	$0.30	$0.57	$0.68
Weighted average shares outstanding (in shares)	26,517,797	10,287,365	22,696,644	9,183,106
Distributions per weighted average share outstanding (in dollars per share)	$0.43	$0.45	$0.85	$0.85

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Operating Activities	'	'
Net income	$12,976,067	$6,198,833
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Provision for loan losses	880,761	442,307
Amortization expense	303,824	277,586
Changes in assets and liabilities:	'	'
Accrued interest receivable	-3,986,736	-3,974,581
Accrued receivable - related parties	-3,963,002	-589,526
Other assets	-757,539	-220,504
Accounts payable and accrued liabilities	-10,184	-127,653
Net cash provided by operating activities	5,443,191	2,006,462
Investing Activities	'	'
Investments in loan participation interest - related parties	-6,968,691	-3,794,896
Principal receipts from loan participation interest - related parties	9,590,422	4,927,802
Investments in notes receivable	-116,162,502	-66,918,781
Principal receipts from notes receivable	37,928,106	13,708,532
Investments in notes receivable - related parties	-7,972,364	-5,444,215
Principal receipts from notes receivable - related parties	7,981,130	3,252,593
Net cash used in investing activities	-75,603,899	-54,268,965
Financing Activities	'	'
Proceeds from issuance of shares of beneficial interest	272,879,903	83,177,570
Investor subscriptions receivable	192,584	169,469
Purchase of treasury shares	-1,034,237	-737,377
Net borrowings on lines of credit	-16,434,813	-812,838
Proceeds from notes payable	0	341,521
Payments on notes payable	-5,095,523	-4,503,294
Distributions	-18,718,796	-7,496,552
Shareholders' distribution reinvestment	6,664,211	2,787,948
Payments of offering costs	-35,338,458	-10,781,293
Deferred offering costs	5,050,715	823,256
Accrued liabilities - related parties	-5,360,509	-1,438,295
Net cash provided by financing activities	202,805,077	61,530,115
Net increase in cash and cash equivalents	132,644,369	9,267,612
Cash and cash equivalents at beginning of period	23,225,858	6,031,956
Cash and cash equivalents at end of period	155,870,227	15,299,568
Supplemental Cash Flow Information:	'	'
Cash paid for interest	$926,564	$830,095

Nature_of_Business

Nature of Business	6 Months Ended
	Jun. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Nature of Operations [Text Block]	'
	A. Nature of Business
	UDF IV was organized on May 28, 2008 (“Inception”) as a Maryland real estate investment trust. The Trust is the sole general partner of and owns a 99.999% partnership interest in United Development Funding IV Operating Partnership, L.P. (“UDF IV OP”), a Delaware limited partnership. UMTH LD, a Delaware limited partnership and the affiliated asset manager of the Trust, is the sole limited partner and owner of 0.001% (minority interest) of the partnership interests in UDF IV OP. At June 30, 2013 and December 31, 2012, UDF IV OP had no assets, liabilities or equity. As of June 30, 2013, the Trust owns a 100% limited partnership interest in UDF IV Home Finance, LP (“UDF IV HF”), UDF IV Finance I, LP (“UDF IV FI”), UDF IV Finance II, LP (“UDF IV FII”), UDF IV Acquisitions, LP (“UDF IV AC”), UDF IV Finance III, LP (“UDF IV FIII”), UDF IV Finance IV, L.P. (“UDF IV Fin IV”) and UDF IV Finance V, L.P. (“UDF IV Fin V”), all Delaware limited partnerships. The Trust is the sole member of (i) UDF IV HF Manager, LLC (“UDF IV HFM”), a Delaware limited liability company, the general partner of UDF IV HF; (ii) UDF IV Finance I Manager, LLC (“UDF IV FIM”), a Delaware limited liability company, the general partner of UDF IV FI; (iii) UDF IV Finance II Manager, LLC (“UDF IV FIIM”), a Delaware limited liability company, the general partner of UDF IV FII; (iv) UDF IV Acquisitions Manager, LLC (“UDF IV ACM”), a Delaware limited liability company, the general partner of UDF IV AC; (v) UDF IV Finance III Manager, LLC (“UDF IV FIIIM”), a Delaware limited liability company, the general partner of UDF IV FIII; (vi) UDF IV Finance IV Manager, LLC (“UDF IV FIVM”), a Delaware limited liability company, the general partner of UDF IV Fin IV; and (vii) UDF IV Finance V Manager, LLC (“UDF IV FVM”), a Delaware limited liability company, the general partner of UDF IV Fin V.
	As of June 30, 2013 and December 31, 2012, UDF IV HFM, UDF IV FIM, UDF IV FIIM, UDF IV ACM, UDF IV FIIIM, UDF IV FIVM, UDF IV Fin V and UDF IV FVM had no assets, liabilities, or equity.
	The Trust originates, purchases, participates in and holds for investment secured loans made directly by the Trust or indirectly through its affiliates to persons and entities for the acquisition and development of parcels of real property as single-family residential lots, and the construction of model and new single-family homes, including development of mixed-use master planned residential communities. The Trust also makes direct investments in land for development into single-family lots, new and model homes and portfolios of finished lots and homes; provides credit enhancements to real estate developers, home builders, land bankers and other real estate investors; and purchases participations in, or finances for other real estate investors the purchase of, securitized real estate loan pools and discounted cash flows secured by state, county, municipal or other similar assessments levied on real property. The Trust also may enter into joint ventures with unaffiliated real estate developers, home builders, land bankers and other real estate investors, or with other United Development Funding-sponsored programs, to originate or acquire, as the case may be, the same kind of secured loans or real estate investments the Trust may originate or acquire directly.
	UMTH General Services, L.P. (“UMTH GS” or “Advisor”), a Delaware limited partnership, is the Trust’s advisor and is responsible for managing the Trust’s affairs on a day-to-day basis. UMTH GS has engaged UMTH LD as the Trust’s asset manager. The asset manager oversees the investing and financing activities of the affiliated programs managed and advised by the Advisor and UMTH LD as well as provides the Trust’s board of trustees recommendations regarding investments and finance transactions, management, policies and guidelines and reviews investment transaction structure and terms, investment underwriting, investment collateral, investment performance, investment risk management, and the Trust’s capital structure at both the entity and asset level.
	The Trust has no employees and does not maintain any physical properties. The Trust’s operations are conducted at the corporate offices of the Trust’s Advisor at 1301 Municipal Way, Grapevine, Texas 76051.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2013
Accounting Policies [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	B. Summary of Significant Accounting Policies
	Restatement
	In our 2013 Form 10-K filed on April 15, 2014, we restated our previously issued (i) consolidated balance sheets included in our Annual Reports on Form 10-K as of December 31, 2012, 2011, 2010 and 2009 and (ii) consolidated statements of operations, consolidated statements of changes in shareholders’ equity, and consolidated statements of cash flows for the years ended December 31, 2012, 2011, 2010 and 2009. We do not intend to file amendments to any of our previously filed Annual Reports on Form 10-K in connection with the Restatement and, instead, we presented all of the restated annual financial statements referred to above in the 2013 Form 10-K.
	In addition, the error that required us to restate the annual financial statements referred to above materially impacted each of our quarters beginning with the quarter ended March 31, 2010 through the quarter ended September 30, 2013. As a result, we are restating our previously issued (i) consolidated balance sheets as of June 30, 2013 and December 31, 2012, (ii) consolidated statements of operations for the three and six months ended June 30, 2013 and 2012 and (iii) consolidated statements of cash flows for the six months ended June 30, 2013 and 2012 in this Amended Form 10-Q. We do not intend to amend our previously filed quarterly reports on Form 10-Q for the quarters ended March 31, 2010 through September 30, 2012; however, as we reported in our Current Report on Form 8-K filed on April 4, 2014, the financial statements included in our quarterly reports on Form 10-Q for each of the periods beginning with the quarter ended March 31, 2010 through September 30, 2013 should not be relied upon. On April __, 2014, we filed our amended quarterly report on Form 10-Q for the quarter ended March 31, 2013. We are in the process of preparing an amendment to our quarterly report on Form 10-Q for the quarter ended September 30, 2013, and we intend to file that amendment as soon as practicable.
	The impact of the Restatement is included in this Amended Form 10-Q, and is more specifically described in Note C below, and in “Part I – Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Amended Form 10-Q.
	A summary of our significant accounting policies consistently applied in the preparation of the accompanying consolidated financial statements follows:
	Basis of Presentation
	The accompanying unaudited consolidated financial statements were prepared in accordance with GAAP for interim financial information, with the instructions to Form 10-Q and with Regulation S-X. They do not include all information and footnotes required by GAAP for complete financial statements. However, except as disclosed herein, there has been no material change to the information disclosed in our 2012 Annual Report on Form 10-K for the year ended December 31, 2012, which was filed with the Securities and Exchange Commission on April 1, 2013 (the “Annual Report”), and which was subsequently restated within the 2013 Form 10-K. The accompanying interim unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements filed in our Annual Report and our 2013 Form 10-K. In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments, consisting of normal recurring adjustments and adjustments associated with the Restatement, considered necessary to present fairly our financial position as of June 30, 2013 and December 31, 2012, operating results for the three and six months ended June 30, 2013 and 2012, and cash flows for the six months ended June 30, 2013 and 2012. Operating results and cash flows for the six months ended June 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013.
	Principles of Consolidation
	The consolidated financial statements include the accounts of the Trust and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated.
	Loan Participation Interest – Related Parties
	Loan participation interest – related parties are recorded at the lower of cost or net realizable value. Loan participation interest – related parties represents the purchase of a financial interest in certain interim construction loan, paper lot (residential lots shown on a plat that has been accepted by the city or county, but which is currently undeveloped or under development) loan and finished lot loan facilities originated by our affiliates. We participate in these loans by funding the lending obligations of our affiliates under these credit facilities up to a maximum amount for each participation. Such participations entitle us to receive payments of principal and interest from the borrower up to the amounts funded by us and interest on the funded amounts from the borrower. The participation interests in interim construction loan facilities are collateralized by first lien deeds of trust on the homes financed under the construction loans. The participation interests in paper lot loan and finished lot loan facilities are collateralized by one or more of the following: first or second lien deeds of trust, a pledge of ownership interests in the borrower, assignments of lot sale contracts, or reimbursements of development costs due to the borrower under contracts with districts and cities. None of such loans are insured or guaranteed by a federally owned or guaranteed mortgage agency. As of June 30, 2013, the participations have terms ranging from 7 to 12 months and bear interest at rates ranging from 11.5% to 15%. The participation interests may be paid off prior to maturity; however, we intend to hold all participation interests for the life of the loans.
	Notes Receivable and Notes Receivable – Related Parties
	Notes receivable and notes receivable – related parties are recorded at the lower of cost or net realizable value. The notes are collateralized by one or more of the following: first or second lien deeds of trust, a pledge of ownership interests in the borrower, assignments of lot sale contracts, or reimbursements of development costs due to the borrower under contracts with districts and cities. None of such notes are insured or guaranteed by a federally owned or guaranteed mortgage agency. As of June 30, 2013, the notes have terms ranging from 2 to 48 months and bear interest at rates ranging from 11% to 15%. The notes may be paid off prior to maturity; however, we intend to hold all notes for the life of the notes.
	Allowance for Loan Losses
	The allowance for loan losses is our estimate of incurred losses in our portfolio of notes receivable, notes receivable – related parties and loan participation interest – related parties. We periodically perform a detailed review of our portfolio of notes and other loans to determine if impairment has occurred and to assess the adequacy of the allowance for loan losses. Our review consists of evaluating economic conditions, the estimated value of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral, and other relevant factors. This review is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available.
	In reviewing our portfolio, we use cash flow estimates from the disposition of finished lots, paper lots and undeveloped land as well as cash flow received from the issuance of bonds from municipal reimbursement districts. These estimates are based on current market metrics, including, without limitation, the supply of finished lots, paper lots and undeveloped land, the supply of homes and the rate and price at which land and homes are sold, historic levels and trends, executed contracts, appraisals and discussions with third party market analysts and participants, including homebuilders. We have based our valuations on current and historic market trends on our analysis of market events and conditions, including activity within our portfolio, as well as those of third-party services such as Metrostudy and Residential Strategies, Inc. Cash flow forecasts also have been based on executed purchase contracts which provide base prices, escalation rates, and absorption rates on an individual project basis. For projects deemed to have an extended time horizon for disposition, we have considered third-party appraisals to provide a valuation in accordance with guidelines set forth in the Uniform Standards of Professional Appraisal Practice. In addition to cash flows from the disposition of property, cost analysis has been performed based on estimates of development and senior financing expenditures provided by developers and independent professionals on a project-by-project basis. These amounts have been reconciled with our best estimates to establish the net realizable value of the portfolio.
	We charge additions to the allowance for loan losses to current period earnings through a provision for loan losses. Amounts determined to be uncollectible are charged directly against, or “charged off,” and decrease the allowance for loan losses, while amounts recovered on previously charged off accounts increase the allowance.
	Organization and Offering Expenses
	Organization costs will be expensed as incurred in accordance with Statement of Position 98-5, Reporting on the Costs of Start-up Activities, currently within the scope of FASB ASC 720-15. Offering costs related to raising capital from debt will be capitalized and amortized over the term of such debt. Offering costs related to raising capital from equity reduce equity and are reflected as shares issuance costs in shareholders’ equity. Certain offering costs were paid by our Advisor. As discussed in Note H, these costs are reimbursed to our Advisor by the Trust.
	Investor Subscriptions Receivable
	Investor subscriptions receivable represents amounts receivable from our transfer agent related to investments they have admitted in connection with our initial public offering. See Note D – Registration Statement for further discussion of our offering. Prior to the termination of our initial public offering, our transfer agent processed investor admissions on a daily basis and sent the proceeds of each admission to us the subsequent day. The investor subscriptions receivable represents our receivable related to the previous day’s investor admissions.
	Interest Income and Non-Interest Income Recognition
	Interest income on loan participation interest – related parties, notes receivable and notes receivable – related parties is recognized over the life of the participation agreement or note agreement and recorded on the accrual basis. A loan is placed on non-accrual status and income recognition is suspended at the date at which, in the opinion of management, a full recovery of income and principal becomes more likely than not, but is no longer probable, based upon our review of economic conditions, the estimated value of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors. Income recognition is resumed when the loan becomes contractually current and performance is demonstrated to be resumed. Any payments received on loans classified as non-accrual status are typically applied first to outstanding loan amounts and then to the recovery of lost interest. As of June 30, 2013 and December 31, 2012, we were accruing interest on all loan participation interest – related parties, notes receivable and notes receivable – related parties.
	Commitment fee income and commitment fee income – related parties represents non-refundable fees charged to borrowers for entering into an obligation that commits us to make or acquire a loan or to satisfy a financial obligation of the borrower when certain conditions are met within a specified time period. When a commitment is considered an integral part of the resulting loan and we believe there is a reasonable expectation that the commitment will be called upon, the commitment fee is recognized as revenue over the life of the resulting loan. As of June 30, 2013 and December 31, 2012, approximately $1.2 million and $970,000, respectively, of unamortized commitment fees are included as an offset of notes receivable. Approximately $212,000 and $263,000 of unamortized commitment fees are included as an offset of notes receivable – related parties as of June 30, 2013 and December 31, 2012, respectively. When we believe it is unlikely that the commitment will be called upon or that the fee is not an integral part of the return of a specific future lending arrangement, the commitment fee is recognized as income when it is earned, based on the specific terms of the commitment. We make a determination of revenue recognition on a case by case basis, due to the unique and varying terms of each commitment.
	Acquisition and Origination Fees
	We incur Acquisition and Origination Fees, payable to UMTH LD, our asset manager, equal to 3% of the net amount available for investment in secured loans and other real estate assets; provided, however, that we will not incur Acquisition and Origination Fees with respect to any asset level indebtedness we incur. The Acquisition and Origination Fees that we incur will be reduced by the amount of any acquisition and origination fees and expenses paid by borrowers or investment entities to our Advisor or affiliates of our Advisor with respect to our investment. We will not incur any Acquisition and Origination Fees with respect to any participation agreement we enter into with our affiliates or any affiliates of our Advisor for which our Advisor or affiliates of our Advisor have previously received acquisition and origination fees and expenses from such affiliate with respect to the same secured loan or other real estate asset. Acquisition and Origination Fees are expensed as incurred. See Note C for further discussion of the Restatement associated with Acquisition and Origination Fees.
	Income Taxes
	We made an election under Section 856(c) of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), to be taxed as a real estate investment trust (“REIT”), beginning with the taxable year ended December 31, 2010. As a REIT, we generally are not subject to federal income tax on income that we distribute to our shareholders. If we later fail to qualify as a REIT in any taxable year, we will be subject to federal income tax on our taxable income at regular corporate rates and may not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year in which our qualification is denied unless we are entitled to relief under certain statutory provisions. Such an event could materially and adversely affect our net income. However, we intend to continue to operate so as to remain qualified as a REIT for federal income tax purposes.
	FASB ASC 740 prescribes a comprehensive model for the financial statement recognition, measurement, presentation and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. In accordance with FASB ASC 740, we must determine whether it is more likely than not that a tax position will be sustained upon examination based on the technical merits of the position. We believe we have no such uncertain positions.
	We file income tax returns in the United States federal jurisdiction. At June 30, 2013, tax returns related to fiscal years ended December 31, 2009 through December 31, 2012 remain open to possible examination by the tax authorities. No tax returns are currently under examination by any tax authorities. We did not incur any penalties or interest during the six months ended June 30, 2013 or 2012.
	Fair Value of Financial Instruments
	In accordance with the reporting requirements of FASB ASC 825-10, Financial Instruments-Fair Value, we calculate the fair value of our assets and liabilities which qualify as financial instruments under this statement and include this additional information in the notes to the consolidated financial statements when the fair value is different than the carrying value of those financial instruments. The estimated fair value of restricted cash, accrued interest receivable, accrued receivable – related parties, accounts payable, accrued liabilities and accrued liabilities – related parties approximates the carrying amounts due to the relatively short maturity of these instruments. The estimated fair value of notes receivable, notes receivable – related parties, loan participation interest – related parties, lines of credit and notes payable approximate the carrying amount since they bear interest at the market rate.
	Guarantees
	From time to time, we enter into guarantees of debtor’s or affiliates’ borrowings and provide credit enhancements for the benefit of senior lenders in connection with our debtors and investments in partnerships (collectively referred to as “guarantees”), and account for such guarantees in accordance with FASB ASC 460-10 Guarantees.
	Reclassifications
	Certain reclassifications have been made to prior period amounts in order to conform with the current year presentation.

Restatement

Restatement	6 Months Ended
	Jun. 30, 2013
Restatement [Abstract]	'
Restated Financial Information [Text Block]	'
	C. Restatement
	In December 2013, we commenced an inquiry into our historical accounting practice for the capitalization and amortization of Acquisition and Origination Fees that we incurred since our inception. As a result of this inquiry, we identified instances where our historical accounting practice was not in compliance with GAAP.
	From the year ended December 31, 2009 through the quarter ended September 30, 2013, we capitalized Acquisition and Origination Fees incurred and amortized them into expense on a straight-line basis over our expected economic life. GAAP guidance in FASB ASC 310-20 requires direct loan origination costs, including the portion of total compensation paid to employees engaged in direct loan origination activities, to be capitalized and amortized into expense over the life of the related loan, provided that records are available in sufficient detail to reliably determine the amount of qualifying direct loan origination costs incurred. In our case, employees of UMTH LD were performing loan origination activities in consideration for our payment of Acquisition and Origination Fees. However, UMTH LD did not maintain (and we did not require them to maintain) contemporaneous, sufficiently detailed time records on a loan by loan basis for all years that would provide evidence of the amount of time allocable to direct loan origination activities and thus the amount of Acquisition and Origination Fees allowable for deferral under ASC 310-20. Therefore, we have determined that we were unable to reasonably determine the amount of Acquisition and Origination Fees allowable for deferral under ASC 310-20. As a result, we have restated our previously issued financial results to expense the Acquisition and Origination Fees as incurred, rather than capitalizing and amortizing them into expense over the life of the loan.
	The following tables present the effects of the Restatement described above on the affected line items within the Trust’s previously reported consolidated balance sheets as of June 30, 2013 and December 31, 2012.
		As of June 30, 2013
		As Previously
		Reported		Adjustment		As Restated
	Assets
	Loan participation interest - related parties, net	$	27,331,908	$	-560,323	$	26,771,585
	Notes receivable, net	$	326,121,997	$	-8,795,761	$	317,326,236
	Notes receivable - related parties, net	$	29,263,370	$	-1,485,921	$	27,777,449
	Total assets	$	557,848,733	$	-10,842,005	$	547,006,728
	Liabilities and Shareholders' Equity
	Accumulated deficit	$	-6,912,617	$	-10,842,005	$	-17,754,622
	Total liabilities and shareholders' equity	$	557,848,733	$	-10,842,005	$	547,006,728
		As of December 31, 2012
		As Previously
		Reported		Adjustment		As Restated
	Assets
	Loan participation interest - related parties, net	$	29,743,602	$	-350,286	$	29,393,316
	Notes receivable, net	$	246,450,255	$	-6,477,654	$	239,972,601
	Notes receivable - related parties, net	$	29,350,382	$	-1,564,167	$	27,786,215
	Total assets	$	344,871,174	$	-8,392,107	$	336,479,067
	Liabilities and Shareholders' Equity
	Accumulated deficit	$	-3,062,972	$	-8,392,107	$	-11,455,079
	Total liabilities and shareholders' equity	$	344,871,174	$	-8,392,107	$	336,479,067
	The following tables present the effects of the Restatement described above on the affected line items within the Trust’s previously reported consolidated statements of operations for the three and six months ended June 30, 2013 and 2012.
		Three Months Ended June 30, 2013						Six Months Ended June 30, 2013
		As Previously						As Previously
		Reported		Adjustment		As Restated		Reported		Adjustment		As Restated
	General and administrative - related parties	$	539,871	$	1,992,814	$	2,532,685	$	1,002,801	$	2,449,898	$	3,452,699
	Total noninterest expense	$	2,780,285	$	1,992,814	$	4,773,099	$	5,146,610	$	2,449,898	$	7,596,508
	Net income	$	8,127,509	$	-1,992,814	$	6,134,695	$	15,425,965	$	-2,449,898	$	12,976,067
	Net income per weighted average share outstanding	$	0.31	$	-0.08	$	0.23	$	0.68	$	-0.11	$	0.57
		Three Months Ended June 30, 2012						Six Months Ended June 30, 2012
		As Previously						As Previously
		Reported		Adjustment		As Restated		Reported		Adjustment		As Restated
	General and administrative - related parties	$	287,016	$	851,136	$	1,138,152	$	548,377	$	1,054,879	$	1,603,256
	Total noninterest expense	$	1,480,190	$	851,136	$	2,331,326	$	2,691,482	$	1,054,879	$	3,746,361
	Net income	$	3,932,899	$	-851,136	$	3,081,763	$	7,253,712	$	-1,054,879	$	6,198,833
	Net income per weighted average share outstanding	$	0.38	$	-0.08	$	0.3	$	0.79	$	-0.11	$	0.68
	The following tables present the effects of the Restatement described above on the affected line items within the Trust’s previously reported consolidated statements of cash flows for the six months ended June 30, 2013 and 2012.
		Six Months Ended June 30, 2013
		As Previously
		Reported		Adjustment		As Restated
	Operating Activities
	Net income	$	15,425,965	$	-2,449,898	$	12,976,067
	Net cash provided by operating activities	$	7,893,089	$	-2,449,898	$	5,443,191
	Investing Activities
	Investments in loan participation interests - related party	$	-7,178,728	$	210,037	$	-6,968,691
	Investments in notes receivable	$	-118,480,609	$	2,318,107	$	-116,162,502
	Investments in notes receivable - related party	$	-7,894,118	$	-78,246	$	-7,972,364
	Net cash used in investing activities	$	-78,053,797	$	2,449,898	$	-75,603,899
	Net increase in cash and cash equivalents	$	132,644,369	$	-	$	132,644,369
		Six Months Ended June 30, 2012
		As Previously
		Reported		Adjustment		As Restated
	Operating Activities
	Net income	$	7,253,712	$	-1,054,879	$	6,198,833
	Net cash provided by operating activities	$	3,061,341	$	-1,054,879	$	2,006,462
	Investing Activities
	Investments in loan participation interests - related party	$	-3,786,047	$	-8,849	$	-3,794,896
	Investments in notes receivable	$	-68,032,325	$	1,113,544	$	-66,918,781
Investments in notes receivable - related party	$	-5,394,399	$	-49,816	$	-5,444,215
Net cash used in investing activities	$	-55,323,844	$	1,054,879	$	-54,268,965
Net increase in cash and cash equivalents	$	9,267,612	$	-	$	9,267,612

Registration_Statement

Registration Statement	6 Months Ended
	Jun. 30, 2013
Registration Statement [Abstract]	'
Registration Statement [Text Block]	'
	D. Registration Statement
	On November 12, 2009, the Trust’s Registration Statement on Form S-11, covering an initial public offering (the “Offering”) of up to 25,000,000 common shares of beneficial interest to be offered in the primary offering at a price of $20 per share (the “Primary Offering”), was declared effective under the Securities Act of 1933, as amended. The Offering also initially covered up to 10,000,000 common shares of beneficial interest to be issued pursuant to our distribution reinvestment plan (the “DRIP”) for $20 per share. We had the right to reallocate the common shares of beneficial interest registered in the Offering between the Primary Offering and the DRIP, and pursuant to Supplement No. 6 to our prospectus regarding the Offering, which was filed with the Securities and Exchange Commission on May 3, 2013, we reallocated the shares being offered to be 34,000,000 shares offered pursuant to the Primary Offering and 1,000,000 shares offered pursuant to the DRIP. The shares were offered to investors on a reasonable best efforts basis, which means the dealer manager used its reasonable best efforts to sell the shares offered, but was not required to sell any specific number or dollar amount of shares and did not have a firm commitment or obligation to purchase any of the offered shares. The Offering terminated May 13, 2013.
	On October 19, 2012, we filed a Registration Statement on Form S-11 (Registration No. 333-184508) with the SEC with respect to a proposed follow-on public offering (the “Follow-On Offering”) of up to 20,000,000 common shares of beneficial interest to be offered at a price of $20.00 per share and up to 10,000,000 common shares of beneficial interest to be issued pursuant to our DRIP for $20.00 per share. The Registration Statement on Form S-11 for the proposed Follow-on Offering was withdrawn pursuant to a filing with the SEC on July 3, 2013, and we did not issue any shares under this registration statement.
	On April 19, 2013, we registered 7,500,000 additional common shares of beneficial interest to be offered pursuant to the DRIP in a Registration Statement on Form S-3 (File No. 333-188045) (the “Secondary DRIP”) for $20 per share. We ceased offering common shares of beneficial interest under the DRIP portion of the Offering upon the termination of the Offering on May 13, 2013, and concurrently began offering our common shares of beneficial interest to our shareholders pursuant to the Secondary DRIP.

Loans_and_Allowance_for_Credit

Loans and Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2013
Receivables [Abstract]	'
Financing Receivables [Text Block]	'
	E. Loans and Allowance for Credit Losses
	All information in this footnote has been revised to reflect the effects of the Restatement described in Note C above.
	Our aggregate loan portfolio is comprised of loan participation interest – related parties, notes receivable, net and notes receivable – related parties and is recorded at the lower of cost or estimated net realizable value.
			June 30, 2013		December 31, 2012
	Loan participation interest – related parties		$	26,772,000	$	29,393,000
	Notes receivable, net			317,326,000		239,973,000
	Notes receivable – related parties			27,777,000		27,786,000
	Total		$	371,875,000	$	297,152,000
	Our loans are classified as follows:
			June 30, 2013		December 31, 2012
	Real Estate:
	Construction, acquisition and land development		$	375,963,000	$	300,151,000
	Allowance for loan losses			-2,647,000		-1,766,000
	Unamortized commitment fees			-1,441,000		-1,233,000
	Total		$	371,875,000	$	297,152,000
	As of June 30, 2013, we had originated or purchased 109 loans, including 20 loans that have either been repaid in full by the respective borrower or have matured and have not been renewed, although they were never funded. As of December 31, 2012, we had originated or purchased 84 loans, including 16 loans that had either been repaid in full by the respective borrower or had matured and had not been renewed, although they were never funded.
	The following table represents the scheduled maturity dates of the 89 loans outstanding as of June 30, 2013:
			Related Party							Non-related party								Total
	Maturity		Amount		Loans		% of			Amount		Loans		% of				Amount			Loans			% of
	Date						Total							Total										Total
	Matured		$	-		-		-		$	-		-		-			$	-			-			-
	2013			7,387,000		7		13	%		77,473,000		13		24	%			84,860,000			20			23	%
	2014			22,979,000		5		42	%		151,156,000		20		47	%			174,135,000			25			46	%
	2015			17,245,000		4		32	%		70,109,000		20		22	%			87,354,000			24			23	%
	2016			7,150,000		1		13	%		18,657,000		16		6	%			25,807,000			17			7	%
	2017			-		-		-			3,807,000		3		1	%			3,807,000			3			1	%
	Total		$	54,761,000		17		100	%	$	321,202,000		72		100	%		$	375,963,000			89			100	%
	The following table represents the scheduled maturity dates of the 68 loans outstanding as of December 31, 2012:
			Related Party							Non-related party								Total
	Maturity		Amount		Loans		% of			Amount		Loans		% of				Amount			Loans			% of
	Date						Total							Total										Total
	Matured		$	-		-		-		$	160,000		1		*			$	160,000			1			*
	2013			34,414,000		12		60	%		71,803,000		17		30	%			106,217,000			29			35	%
	2014			4,000,000		2		7	%		118,222,000		14		49	%			122,222,000			16			41	%
	2015			13,020,000		3		23	%		52,523,000		18		21	%			65,543,000			21			22	%
	2016			6,009,000		1		10	%		-		-		-				6,009,000			1			2	%
	Total		$	57,443,000		18		100	%	$	242,708,000		50		100	%		$	300,151,000			68			100	%
	* Less than 1%
	As of June 30, 2013, we have no matured loans.
	As of December 31, 2012, we had 1 matured loan with an aggregate unpaid principal balance of approximately $160,000. This loan matured in December 2012 and full collectability is considered probable, based on our ongoing review of the credit quality of our loan portfolio, discussed in further detail below. In March 2013, we amended this loan, resulting in a new maturity date of June 30, 2013, and in June 2013, this loan was paid in full. In determining whether to modify this loan, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors.
	The following table describes the loans that were matured as of December 31, 2012, the activity with respect to such loans during the six months ended June 30, 2013 and the loans that matured during the six months ended June 30, 2013 and remained matured as of June 30, 2013:
	Maturity		Amount		Loans		% of			Matured Loan		Net Activity		Loans			Amount			Loans			% of
	Date						Total			Extensions		During the		Matured									Total
										During the Six		Six Months		During the
										Months Ended		Ended June		Six Months
										June 30, 2013		30, 2013 on		Ended June
										on Loans		Loans		30, 2013 (3)
										Matured as of		Matured as of
										December 31,		December 31,
										2012 (1)		2012 (2)
			Non-Related
			Matured as of December 31, 2012							2013 Activity (4)							Matured as of June 30, 2013
	2012		$	160,000		1		100	%	$	-	$	-160,000	$	-		$	-			-			-
	Total		$	160,000		1		100	%	$	-	$	-160,000	$	-		$	-			-			-
		-1	Amounts represent aggregate unpaid principal balance as of December 31, 2012 of matured loans as of December 31, 2012 that were extended but not paid in full during the six months ended June 30, 2013.
		-2	For loans matured as of December 31, 2012, net loan activity represents all activity on the loans during the six months ended June 30, 2013, including accrued interest, payment of fees and expenses, charge-offs and/or repayments.
		-3	Amounts represent aggregate unpaid principal balance as of December 31, 2012 of loans that matured during the six months ended June 30, 2013 and remained matured as of June 30, 2013.
		-4	The table does not reflect activity for loans that matured or were due to mature during the six months ended June 30, 2013, but were extended on or prior to June 30, 2013.
	A loan is placed on non-accrual status and income recognition is suspended at the date at which, in the opinion of management, a full recovery of income and principal becomes more likely than not, but is no longer probable, based upon our review of economic conditions, the estimated value of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors. Income recognition is resumed when the loan becomes contractually current and performance is demonstrated to be resumed. Any payments received on loans classified as non-accrual status are typically applied first to outstanding loan amounts and then to the recovery of lost interest. As of June 30, 2013 and December 31, 2012, we have not placed any loans on non-accrual status.
	Loans are considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due in accordance with the contractual terms of the loan agreement, including scheduled principal and interest payments. Impairment is generally evaluated on an individual loan basis for each loan in the portfolio. If an individual loan is considered impaired, a specific valuation allowance may be allocated, if necessary, so that the individual loan is reported net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from collateral. Loans that are not individually considered impaired are collectively and qualitatively measured as a portfolio for general valuation allowance. In reviewing our portfolio for this valuation analysis, we use cash flow estimates from the disposition of finished lots, paper lots (residential lots shown on a plat that has been accepted by the city or county, but which is currently undeveloped or under development) and undeveloped land as well as cash flow received from the issuance of bonds from municipal reimbursement districts. These estimates are based on current market metrics, including, without limitation, the supply of finished lots, paper lots and undeveloped land, the supply of homes and the rate and price at which land and homes are sold, historic levels and trends, executed contracts, appraisals and discussions with third party market analysts and participants, including homebuilders. We base our valuations on current and historic market trends and on our analysis of market events and conditions, including activity within our portfolio, as well as the analysis of third-party services such as Metrostudy and Residential Strategies, Inc. Cash flow forecasts also are based on executed purchase contracts which provide base prices, escalation rates, and absorption rates on an individual project basis. For projects deemed to have an extended time horizon for disposition, we consider third-party appraisals to provide a valuation in accordance with guidelines set forth in the Uniform Standards of Professional Appraisal Practice. In addition to cash flows from the disposition of property, cost analysis is performed based on estimates of development and senior financing expenditures provided by developers and independent professionals on a project-by-project basis. These amounts are reconciled with our best estimates to establish the net realizable value of the portfolio.
	Interest is recognized on an accrual basis for impaired loans in which the collectability of the unpaid principal amount is deemed probable. Any payments received on such loans are first applied to outstanding accrued interest receivable and then to outstanding unpaid principal balance. Unpaid principal balance is materially the same as recorded investments. Any payments received on impaired loans in which the collectability of the unpaid principal amount is less than probable are typically applied to outstanding unpaid principal and then to the recovery of lost interest on a cash basis. Impaired loans, or portions thereof, are charged off when deemed uncollectible.
	As of June 30, 2013, we have no matured loans.
	As of December 31, 2012, we had 1 matured loan with an aggregate unpaid principal balance of approximately $160,000. This loan matured in December 2012 at which point full collectability was considered probable, based on our ongoing review of the credit quality of our loan portfolio, discussed in further detail below. In March 2013, we amended this loan resulting in a new maturity date of June 30, 2013, and in June 2013, this loan was paid in full.
For the six months ended June 30, 2013, we did not have any impaired loans and we did not recognize any interest income associated with impaired loans. For the six months ended June 30, 2013 and 2012, we did not recognize any cash basis interest income related to impaired loans.
As part of the ongoing monitoring of the credit quality of the loan portfolio, we periodically, no less than quarterly, perform a detailed review of our portfolio of mortgage notes and other loans. The following is a general description of the credit levels used:
Level 1 – Full collectability of loans in this category is considered probable.
Level 2 – Full collectability of loans in this category is deemed more likely than not, but not probable, based upon our review of economic conditions, the estimated value of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors. Interest income is suspended on Level 2 loans.
Level 3 – For loans in this category, it is probable that we will be unable to collect all amounts due.
As of the dates indicated, our loans were classified as follows:
		June 30, 2013		December 31, 2012
Level 1		$	375,963,000	$	300,151,000
Level 2			-		-
Level 3			-		-
Total		$	375,963,000	$	300,151,000
The allowance for loan losses is our estimate of incurred losses in our portfolio of notes receivable, notes receivable – related parties and loan participation interest – related parties. We periodically perform a detailed review of our portfolio of notes and other loans to determine if impairment has occurred and to assess the adequacy of the allowance for loan losses. We charge additions to the allowance for loan losses to current period earnings through a provision for loan losses. Amounts determined to be uncollectible are charged directly against (and decrease) the allowance for loan losses (“charged off”), while amounts recovered on previously charged off amounts increase the allowance for loan losses. The following table summarizes the change in the reserve for loan losses during the six months ended June 30, 2013 and the year ended December 31, 2012, which is offset against notes receivable:
		For the Six Months		For the Year Ended
		Ended June 30, 2013		December 31, 2012
Balance, beginning of year		$	1,766,000	$	675,000
Provision for loan losses			881,000		1,091,000
Charge-offs			-		-
Balance, end of period		$	2,647,000	$	1,766,000
We have adopted the provisions of ASU No. 2011-02, A Creditor’s Determination of Whether a Restructuring Is a Troubled Debt Restructuring. In accordance with ASU 2011-02, the restructuring of a loan is considered a “troubled debt restructuring” if both (i) the borrower is experiencing financial difficulties and (ii) the creditor has granted a concession. Concessions may include interest rate reductions or below market interest rates, principal forgiveness, restructuring amortization schedules and other actions intended to minimize potential losses. As of June 30, 2013 and December 31, 2012, we have no loan modifications that are classified as troubled debt restructurings.

Shareholders_Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2013
Stockholders Equity Note [Abstract]	'
Shareholders Equity Note Disclosure [Text Block]	'
	F. Shareholders’ Equity
	On December 18, 2009, the Trust’s initial public subscribers were accepted as shareholders pursuant to the Offering and the subscription proceeds from such initial public subscribers were released to the Trust from escrow.
	As of June 30, 2013, the Trust had issued an aggregate of 31,604,023 common shares of beneficial interest pursuant to the Primary Offering, DRIP and Secondary DRIP, consisting of 30,735,813 common shares of beneficial interest pursuant to the Primary Offering in exchange for gross proceeds of approximately $614.7 million (approximately $535.0 million, net of costs associated with the Primary Offering), 723,617 common shares of beneficial interest in accordance with our DRIP in exchange for gross proceeds of approximately $14.5 million and  144,593 common shares of beneficial interest in accordance with our Secondary DRIP in exchange for gross proceeds of approximately $2.9 million. As of June 30, 2013, the Trust had redeemed an aggregate of 177,731 common shares of beneficial interest at a cost of approximately $3.4 million.
	As of December 31, 2012, the Trust had issued an aggregate of 17,624,839 common shares of beneficial interest pursuant to the Primary Offering and DRIP, consisting of 17,089,857 common shares of beneficial interest pursuant to the Primary Offering in exchange for gross proceeds of approximately $341.8 million (approximately $297.4 million, net of costs associated with the Primary Offering) and 534,982 common shares of beneficial interest in accordance with our DRIP in exchange for gross proceeds of approximately $10.7 million. As of December 31, 2012, the Trust had redeemed an aggregate of 124,531 common shares of beneficial interest at a cost of approximately $2.4 million.
	We must distribute to our shareholders at least 90% of our taxable income each year in order to meet the requirements for being treated as a REIT under the Internal Revenue Code. In accordance with this requirement, we pay monthly distributions to our shareholders. Our distribution rate is determined quarterly by our board of trustees and is dependent on a number of factors, including funds available for payment of distributions, our financial condition, loan funding commitments and annual distribution requirements needed to maintain our status as a REIT under the Internal Revenue Code. In addition to the monthly distributions, in an effort to ensure we distribute at least 90% of our taxable income, our board of trustees has periodically authorized additional, special distributions. All distributions are paid in cash and DRIP or Secondary DRIP shares.
	Our board of trustees has authorized distributions for our shareholders of record as of the close of business on each day for the period commencing on December 18, 2009 and ending on September 30, 2013. For distributions declared for each record date in the December 2009 through June 2011 periods, our distribution rate was $0.0043836 per common share of beneficial interest, which is equal to an annualized distribution rate of 8%, assuming a purchase price of $20.00 per share. For distributions declared for each record date in the July 2011 through September 2013 periods, our distribution rate is $0.0044932 per common share of beneficial interest, which is equal to an annualized distribution rate of 8.2%, assuming a purchase price of $20.00 per share. These distributions are aggregated and paid monthly in arrears. Distributions are paid on or about the 25th day of the respective month. Distributions for shareholders participating in our DRIP and Secondary DRIP are reinvested into our shares on the payment date of each distribution.
	In addition to the distributions discussed above, the following table represents all special distributions authorized by our board of trustees through June 30, 2013:
	Authorization Date (1)		Record Date (2)		Rate (3)			Pay Date (4)
	8-Sep-10		15-Sep-10		$	0.05		15-Oct-10
	8-Sep-10		15-Dec-10		$	0.15		1-Feb-11
	10-Mar-11		30-Apr-11		$	0.1		17-May-11
	27-Jun-11		31-Aug-11		$	0.05		13-Sep-11
	1-Mar-12		30-Apr-12		$	0.05		18-May-12
	15-Aug-12		1-Oct-12		$	0.05		19-Oct-12
	10-Oct-12		14-Dec-12		$	0.05		15-Feb-13
	6-Mar-13		15-Apr-13		$	0.05		17-May-13
		-1	Represents the date the distribution was authorized by our board of trustees.
		-2	All outstanding common shares of beneficial interest as of the record date receive the distribution.
		-3	Represents the distribution rate per common share of beneficial interest on the record date.
		-4	Represents the date the special distribution was paid or will be paid in cash and DRIP or Secondary DRIP shares.
	As of June 30, 2013, we have made the following distributions to our shareholders in 2013:
	Period Ended		Date Paid		Distribution
					Amount
	31-Dec-12		16-Jan-13		$	2,385,000
	14-Dec-12		15-Feb-13			856,000
	31-Jan-13		22-Feb-13			2,494,000
	28-Feb-13		22-Mar-13			2,353,000
	31-Mar-13		23-Apr-13			2,772,000
	15-Apr-13		17-May-13			1,094,000
	30-Apr-13		23-May-13			2,964,000
	31-May-13		21-Jun-13			3,800,000
					$	18,718,000
	For the six months ended June 30, 2013, we paid distributions of approximately $18.7 million ($12.0 million in cash and $6.7 million in our common shares of beneficial interest pursuant to our DRIP and Secondary DRIP), as compared to cash flows provided by operations of approximately $5.4 million. From May 28, 2008 (Date of Inception) through June 30, 2013, we paid cumulative distributions of approximately $48.1 million. As of June 30, 2013, we had approximately $2.5 million of cash distributions declared that were paid subsequent to period end.
	The distributions paid for the six months ended June 30, 2013 and 2012, along with the amount of distributions reinvested pursuant to our DRIP and the sources of our distributions are reflected in the table below. In connection with the Restatement, cash payments to UMTH LD associated with Acquisition and Origination Fees were reclassified from investing activities to operating activities, thus reducing operating cash available for distributions. The impact of the Restatement on the tables below is more specifically described in Note C above. The sources of distributions in the table below have been adjusted to reflect the impact of the Restatement.
			Six months ended June 30,
			2013						2012
	Distributions paid in cash		$	12,056,000					$	4,709,000
	Distributions reinvested			6,662,000						2,788,000
	Total distributions		$	18,718,000					$	7,497,000
	Source of distributions:
	Cash from operations		$	5,443,000		29	%		$	2,006,000	27	%
	Borrowings under credit facilities			-		-				5,491,000	73	%
	Proceeds from offering			13,275,000		71	%			-	-
	Total sources		$	18,718,000		100	%		$	7,497,000	100	%
	In our initial quarters of operations, and from time to time thereafter, we did not generate enough cash flow to fully fund distributions declared. Therefore, some or all of our distributions are paid from sources other than operating cash flow, such as proceeds from our Offering and borrowings (including borrowings secured by our assets) in anticipation of future operating cash flow. Distributions in excess of our operating cash flows have been funded via financing activities, specifically proceeds from issuance of common shares of beneficial interest and borrowings under our credit facilities, consistent with our intent to use our credit facilities to meet our investment and distribution cash requirements throughout our initial period of operations.
	We utilize cash to fund operating expenses, make investments, service debt obligations and pay distributions. We receive cash from operations (which includes interest payments) as well as cash from investing activities (which includes repayment of principal on loans we have made) and financing activities (which includes borrowing proceeds and additional capital from the sale of our shares). We have secured a note payable and lines of credit to manage the timing of our cash receipts and funding requirements. Over the long term, we expect that substantially all of our distributions will be funded from operating cash flow. Further, we believe operating income will improve in future periods as start-up costs and general and administrative expenses are borne over a larger investment portfolio.

Share_Redemption_Program

Share Redemption Program	6 Months Ended
	Jun. 30, 2013
Unit Redemption Program [Abstract]	'
Share Redemption Program [Text Block]	'
	G. Share Redemption Program
	We have adopted a share redemption program that enables our shareholders to sell their shares back to us in limited circumstances. Generally, this program permits shareholders to sell their shares back to us after they have held them for at least one year. Except for redemptions upon the death of a shareholder (in which case we may waive the minimum holding periods), the purchase price for the redeemed shares, for the period beginning after a shareholder has held the shares for a period of one year, will be (1) 92% of the purchase price actually paid for any shares held less than two years, (2) 94% of the purchase price actually paid for any shares held for at least two years but less than three years, (3) 96% of the purchase price actually paid for any shares held at least three years but less than four years, (4) 98% of the purchase price actually paid for any shares held at least four years but less than five years and (5) for any shares held at least five years, the lesser of the purchase price actually paid or the then-current fair market value of the shares as determined by the most recent annual valuation of our shares. The purchase price for shares redeemed upon the death of a shareholder will be the lesser of (1) the purchase price the shareholder actually paid for the shares or (2) $20.00 per share.
	We reserve the right in our sole discretion at any time and from time to time to (1) waive the one-year holding period in the event of the death or bankruptcy of a shareholder or other exigent circumstances, (2) reject any request for redemption, (3) change the purchase price for redemptions, or (4) terminate, suspend and/or reestablish our share redemption program. In respect of shares redeemed upon the death of a shareholder, we will not redeem in excess of 1% of the weighted average number of shares outstanding during the twelve-month period immediately prior to the date of redemption, and the total number of shares we may redeem at any time will not exceed 5% of the weighted average number of shares outstanding during the trailing twelve-month period prior to the redemption date. Our board of trustees will determine from time to time whether we have sufficient excess cash from operations to repurchase shares. Generally, the cash available for redemption will be limited to 1% of the operating cash flow from the previous fiscal year, plus any net proceeds from our DRIP and Secondary DRIP.
	The Trust complies with FASB ASC 480-10, Distinguishing Liabilities from Equity, which requires, among other things, that financial instruments that represent a mandatory obligation of the Trust to repurchase shares be classified as liabilities and reported at settlement value. We believe that shares tendered for redemption by the shareholder under the Trust’s share redemption program do not represent a mandatory obligation until such redemptions are approved at our discretion. At such time, we will reclassify such obligations from equity to an accrued liability based upon their respective settlement values. As of June 30, 2013, we did not have any approved redemption requests included in our liabilities.
	The following table summarizes the redemption activity for the six months ended June 30, 2013 and the year ended December 31, 2012. The amounts presented are in total shares:
		June 30, 2013		December 31, 2012
	Balance, beginning of year		-		-
	Redemption requests received		53,200		96,016
	Shares redeemed		-53,200		-96,016
	Balance, end of period		-		-
	Shares redeemed are included in treasury stock in the consolidated balance sheet.

Organizational_and_Offering_Co

Organizational and Offering Compensation	6 Months Ended
	Jun. 30, 2013
Deferred Offering Costs [Abstract]	'
Organizational and Offering Compensation [Text Block]	'
	H. Organizational and Offering Compensation
	Various parties received compensation as a result of the Offering, including the Advisor, affiliates of the Advisor, the dealer manager and soliciting dealers. The Advisor or an affiliate of the Advisor funded organization and offering costs on the Trust’s behalf and our Advisor has been paid by the Trust for such costs in an amount equal to 3% of the gross offering proceeds raised by the Trust in the Offering (the “O&O Reimbursement”) less any offering costs paid by the Trust directly (except that no organization and offering expenses will be reimbursed with respect to sales under the DRIP and Secondary DRIP). Payments to the dealer manager include selling commissions (6.5% of gross offering proceeds, except that no commissions are paid with respect to sales under the DRIP and Secondary DRIP) and dealer manager fees (up to 3.5% of gross offering proceeds, except that no dealer manager fees are paid with respect to sales under the DRIP and Secondary DRIP).

Operational_Compensation

Operational Compensation	6 Months Ended
	Jun. 30, 2013
Operational Compensation [Abstract]	'
Advisor Operational Stage Payments [Text Block]	'
	I. Operational Compensation
	The Advisor or its affiliates will receive Acquisition and Origination Fees as described in Note B. Acquisition and Origination Fees will not be paid with respect to any asset level indebtedness the Trust incurs. Acquisition and Origination Fees incurred by the Trust will be reduced by the amount of any acquisition and origination fees and expenses paid by borrowers or investment entities to the Advisor or affiliates of the Advisor with respect to the investment. The Trust will not incur any Acquisition and Origination Fees with respect to any participation agreement the Trust enters into with its affiliates or any affiliates of the Advisor for which the Advisor or affiliates of the Advisor previously has received acquisition and origination fees and expenses from such affiliate with respect to the same secured loan or other real estate asset.
	The Advisor will receive advisory fees of 2% per annum of the average of invested assets (“Advisory Fees”), including secured loan assets; provided, however, that no Advisory Fees will be paid with respect to any asset level indebtedness the Trust incurs. The fee will be payable monthly in an amount equal to one-twelfth of 2% of the Trust’s average invested assets, including secured loan assets, as of the last day of the immediately preceding month.
	The Advisor will receive 1% of the amount made available to the Trust pursuant to the origination of any line of credit or other debt financing, provided that the Advisor has provided a substantial amount of services as determined by the Trust’s independent trustees and, on each anniversary date of the origination of any such line of credit or other debt financing, an additional fee of 0.25% of the primary loan amount (collectively, “Debt Financing Fees”) will be paid if such line of credit or other debt financing continues to be outstanding on such date, or a prorated portion of such additional fee will be paid for the portion of such year that the financing was outstanding.
	The Trust will reimburse the expenses incurred by the Advisor in connection with its provision of services to the Trust (the “Advisor Expense Reimbursement”), including the Trust’s allocable share of the Advisor’s overhead, such as rent, personnel costs, utilities and IT costs. The Trust will not reimburse the Advisor for personnel costs in connection with services for which the Advisor or its affiliates receive other fees.
	The Advisor will receive 15% of the amount by which the Trust’s net income for the immediately preceding year exceeds a 10% per annum return on aggregate capital contributions, as adjusted to reflect prior cash distributions to shareholders which constitute a return of capital. This fee will be paid annually and upon termination of the advisory agreement.

DispositionLiquidation_Compens

Disposition/Liquidation Compensation	6 Months Ended
	Jun. 30, 2013
Disposition Liquidation Compensation [Abstract]	'
Advisor Disposition Stage Payments [Text Block]	'
	J. Disposition/Liquidation Compensation
	Upon successful sales by the Trust of securitized loan pool interests, the Advisor will be paid a securitized loan pool placement fee equal to 2% of the net proceeds realized by the Trust, provided the Advisor or an affiliate of the Advisor has provided a substantial amount of services as determined by the Trust’s independent trustees.
	For substantial assistance in connection with the sale of properties, the Trust will pay the Advisor or its affiliates disposition fees of the lesser of one-half of the reasonable and customary real estate or brokerage commission or 2% of the contract sales price of each property sold; provided, however, in no event may the disposition fees paid to the Advisor, its affiliates and unaffiliated third parties exceed 6% of the contract sales price. The Trust’s independent trustees will determine whether the Advisor or its affiliate has provided substantial assistance to the Trust in connection with the sale of a property. Substantial assistance in connection with the sale of a property includes the Advisor’s preparation of an investment package for the property (including a new investment analysis, rent rolls, tenant information regarding credit, a property title report, an environmental report, a structural report and exhibits) or such other substantial services performed by the Advisor in connection with a sale.
	Upon listing the Trust’s common shares of beneficial interest on a national securities exchange, the Advisor will be entitled to a fee equal to 15% of the amount, if any, by which (1) the market value of the Trust’s outstanding shares plus distributions paid by the Trust prior to listing, exceeds (2) the sum of the total amount of capital raised from investors and the amount of cash flow necessary to generate a 10% annual cumulative, non-compounded return to investors.

Notes_Payable

Notes Payable	6 Months Ended
	Jun. 30, 2013
Note Payable [Abstract]	'
Notes Payable Disclosure [Text Block]	'
	K. Notes Payable
	Credit Facility
	On February 5, 2010, during the credit crisis in which financial institutions severely reduced the number of loans made to entities involved in real estate, we obtained a revolving credit facility in the maximum principal amount of $8.0 million (the “Credit Facility”) from Raley Holdings, LLC, an unaffiliated company (“Raley Holdings”). The interest rate on the Credit Facility was equal to 8.5% per annum. Accrued interest on the outstanding principal amount of the Credit Facility was payable monthly. Effective August 10, 2010, the Credit Facility was amended to increase the maximum principal amount to $20.0 million, pursuant to the First Amendment to Secured Line of Credit Promissory Note between us and Raley Holdings. On February 5, 2011, we entered into the Extension Agreement with Raley Holdings, resulting in an extension of the maturity date associated with the Credit Facility to February 5, 2012. On February 5, 2012, we entered into the Second Extension Agreement with Raley Holdings, resulting in an extension of the maturity date associated with our Credit Facility to February 5, 2013. Effective February 5, 2013, we executed the Third Extension Agreement with Raley Holdings that further extended the maturity date of the Credit Facility to February 5, 2014. The Credit Facility was secured by a first priority collateral assignment and lien on certain of our assets. The Credit Facility was paid in full and terminated in June 2013.
	In connection with this Credit Facility, we have agreed to pay Debt Financing Fees to UMTH GS. See Note O - Related Party Transactions, for further discussion of fees paid to related parties.
	As of December 31, 2012, approximately $5.1 million in principal was outstanding under the Credit Facility. Interest expense associated with the Credit Facility was approximately $67,000 and $122,000 for the three months ended June 30, 2013 and 2012, respectively, and approximately $165,000 and $284,000 for the six months ended June 30, 2013 and 2012, respectively.

Lines_of_Credit

Lines of Credit	6 Months Ended
	Jun. 30, 2013
Lines Of Credit [Abstract]	'
Lines Of Credit [Text Block]	'
	L. Lines of Credit
	UDF IV HF CTB LOC
	On May 19, 2010, UDF IV HF entered into a $6.0 million revolving line of credit (as amended, the “UDF IV HF CTB LOC”) with Community Trust Bank (“CTB”). The UDF IV HF CTB LOC originally bore  interest at prime plus 1%, subject to a floor of 5.5% (5.5% at June 30, 2013), and requires monthly interest payments. Proceeds from the line of credit are used to fund our obligations under our interim home construction loan agreements. Advances are subject to a borrowing base and are secured by a first priority collateral assignment and lien on certain mortgage notes and construction loans held by UDF IV HF. Principal and all unpaid interest  on the UDF IV HF CTB LOC will be due at maturity. Effective July 31, 2013, UDF IV HF entered into the First Amended and Restated Loan Agreement with CTB pursuant to which the UDF IV HF CTB LOC was increased to $10 million, the interest rate floor was decreased to 4.25% and the maturity date was extended from February 19, 2014 to July 30, 2015. See Note Q – Subsequent Events, for further discussion. The UDF IV HF CTB LOC is guaranteed by us and by United Development Funding III, L.P. (“UDF III”), an affiliated and publicly registered Delaware limited partnership. UMTH LD, our asset manager, is the general partner for UDF III. The full outstanding principal balance of the UDF IV HF CTB LOC was paid in June 2013, although UDF IV HF retains the right to draw under the UDF IV HF CTB LOC  through October 19, 2014.
	In connection with this line of credit, UDF IV HF agreed to pay an origination fee of $60,000 to CTB. In connection with the First Amended and Restated Loan Agreement, UDF IV HF agreed to pay an additional origination fee of $30,000 to CTB. In addition, UDF IV HF agreed to pay Debt Financing Fees to UMTH GS associated with the UDF IV HF CTB LOC and, in consideration of UDF III guaranteeing the line of credit, UDF IV HF agreed to pay UDF III an annual credit enhancement fee equal to 1% of the line of credit amount. See Note O – Related Party Transactions, for further discussion of fees paid to related parties.
	As of June 30, 2013, there was no outstanding principal balance associated with the UDF IV HF CTB LOC. The outstanding balance on the line of credit was $6.0 million as of December 31, 2012. Interest expense associated with the UDF IV HF CTB LOC was approximately $64,000 and $33,000 for the three months ended June 30, 2013 and 2012, respectively, and approximately $147,000 and $71,000 for the six months ended June 30, 2013 and 2012, respectively.
	CTB Revolver
	Effective August 19, 2010, UDF IV AC obtained a three-year revolving credit facility in the maximum principal amount of $8.0 million (as amended, the “CTB Revolver”) from CTB pursuant to a Revolving Loan Agreement. Effective April 11, 2013, UDF IV AC entered into the First Amended and Restated Loan Agreement with CTB, pursuant to which CTB increased its commitment under the CTB Revolver from $8.0 million to $15.0 million. The interest rate on the CTB Revolver is equal to the greater of prime plus 1% or 5.5% per annum (5.5% at June 30, 2013). Accrued interest on the outstanding principal amount of the CTB Revolver is payable monthly. The CTB Revolver matures and becomes due and payable in full on August 19, 2013. The CTB Revolver is secured by a first priority collateral assignment and lien on the loans purchased or held by UDF IV AC, and by a first lien security interest in all of UDF IV AC’s assets. The CTB Revolver is guaranteed by us and by UDF III. The full outstanding principal balance of the CTB Revolver was paid in June 2013, although UDF IV AC retains the right to draw under the CTB Revolver until it matures on August 19, 2013.
	UDF IV AC’s eligibility to borrow up to $15.0 million under the CTB Revolver is determined pursuant to a defined borrowing base. The CTB Revolver requires UDF IV AC and the guarantors to make various representations to the bank and to comply with various covenants and agreements, including but not limited to, minimum net worth requirements and defined leverage ratios.
	In connection with the CTB Revolver, UDF IV AC agreed to pay an origination fee of $80,000 to CTB. In connection with the amendment entered into in April 2013, UDF IV AC agreed to pay an additional origination fee of $70,000 to CTB. In addition, UDF IV AC agreed to pay Debt Financing Fees to UMTH GS in connection with the CTB Revolver and, in consideration for UDF III guaranteeing the CTB Revolver, UDF IV AC agreed to pay UDF III a monthly credit enhancement fee equal to 1/12th of 1% of the outstanding principal balance of the CTB Revolver at the end of each month. See Note O – Related Party Transactions, for further discussion of fees paid to related parties.
	As of June 30, 2013, there was no outstanding principal balance associated with the CTB Revolver. As of December 31, 2012, $8.0 million in principal was outstanding under the CTB Revolver. Interest expense associated with the CTB Revolver was approximately $80,000 and $79,000 for the three months ended June 30, 2013 and 2012, respectively, and approximately $190,000 and $158,000 for the six months ended June 30, 2013 and 2012, respectively.
	UTB Revolver
	Effective September 29, 2010, UDF IV FI entered into a $3.4 million revolving line of credit (as amended, the “UTB Revolver”) with United Texas Bank (“UTB”). Pursuant to the First Loan Modification and Extension Agreement, effective August 18, 2011 (the “First UTB Extension Agreement”), UTB increased its commitment under the UTB Revolver to $4.0 million and the maturity date, which was originally September 29, 2011, was extended to September 29, 2012. Pursuant to the Second Loan Modification and Extension Agreement, effective September 29, 2012 (the “Second UTB Extension Agreement”), the maturity date was extended to September 29, 2013. The UTB Revolver bears interest at prime plus 1%, subject to a floor of 5.5% (5.5% at June 30, 2013), and requires monthly interest payments. Advances under the line were made from time to time through September 1, 2012. Proceeds from the UTB Revolver were used to fund our obligations under our land acquisition loans, development loans and finished lot loan agreements. Advances were subject to a borrowing base and are secured by a first priority collateral assignment and lien on certain mortgage notes and construction loans held by UDF IV FI. Principal and all unpaid interest will be due at maturity and is guaranteed by us.
	In connection with the UTB Revolver, UDF IV FI agreed to pay an origination fee of $34,000 to UTB. Pursuant to the First UTB Extension Agreement, UDF IV FI incurred an additional origination fee of $23,000 payable to UTB. Pursuant to the Second UTB Extension Agreement, UDF IV FI incurred an additional origination fee of $20,000 payable to UTB. In addition, UDF IV FI agreed to pay Debt Financing Fees to UMTH GS in connection with the UTB Revolver. See Note O – Related Party Transactions, for further discussion of fees paid to related parties.
	As of June 30, 2013 and December 31, 2012, approximately $3.7 million and $3.8 million, respectively, in principal was outstanding under the UTB Revolver. Interest expense associated with the UTB Revolver was approximately $52,000 and $56,000 for the three months ended June 30, 2013 and 2012, respectively, and approximately $103,000 and $111,000 for the six months ended June 30, 2013 and 2012, respectively.
	F&M Loan
	On December 14, 2010, UDF IV FII obtained a revolving credit facility from F&M Bank and Trust Company (“F&M”) in the maximum principal amount of $5.0 million pursuant to a loan agreement (as amended, the “F&M Loan”). Pursuant to the First Amendment to the F&M Loan, F&M increased its commitment to $7.5 million, effective September 1, 2011. The interest rate on the F&M Loan is equal to the greater of prime plus 1.5% or 5.0% per annum (5.0% at June 30, 2013). Accrued interest on the outstanding principal amount of the F&M Loan is payable monthly. The F&M Loan was scheduled to mature and become due and payable in full on December 14, 2012. Pursuant to the Amended and Restated Loan Agreement entered into on December 4, 2012, F&M increased its commitment associated with the F&M Loan to $10.0 million and the maturity date of the F&M Loan was extended to December 14, 2014. The F&M Loan is secured by a first priority collateral assignment and lien on certain mortgage notes and construction loans originated by UDF IV FII. The F&M Loan is guaranteed by us and by UDF III.
	UDF IV FII’s eligibility to borrow up to $10.0 million under the F&M Loan is determined pursuant to a defined borrowing base. The F&M Loan requires UDF IV FII and the guarantors to make various representations to the bank and to comply with various covenants and agreements, including but not limited to, minimum net worth requirements and defined leverage ratios.
	In connection with the F&M Loan, UDF IV FII agreed to pay an origination fee of $50,000 to F&M. Pursuant to the First Amendment to the F&M Loan, UDF IV FII agreed to pay an additional origination fee of $25,000 to F&M. Pursuant to the Amended and Restated Loan Agreement, UDF IV FII agreed to pay an additional origination fee of $25,000 and a renewal fee of approximately $38,000 to F&M. In addition, UDF IV FII agreed to pay Debt Financing Fees to UMTH GS in connection with the F&M Loan and, in consideration for UDF III guaranteeing the F&M Loan, UDF IV FII agreed to pay UDF III a monthly credit enhancement fee equal to 1/12th of 1% of the outstanding principal balance of the F&M Loan at the end of each month. See Note O - Related Party Transactions, for further discussion of fees paid to related parties.
	As of June 30, 2013 and December 31, 2012, approximately $5.2 million and $5.7 million, respectively, in principal was outstanding under the F&M Loan. Interest expense associated with the F&M Loan was approximately $70,000 and $77,000 for the three months ended June 30, 2013 and 2012, respectively, and approximately $141,000 and $148,000 for the six months ended June 30, 2013 and 2012, respectively.
	Legacy Revolver
	Effective November 1, 2011, UDF IV FIII obtained a credit facility in the maximum principal amount of $5.0 million (the “Legacy Revolver”) from LegacyTexas Bank (“Legacy”) pursuant to a loan agreement. As amended, the interest rate on the Legacy Revolver is equal to the greater of prime plus 1% or 5.5% per annum (5.5% at June 30, 2013), provided that the interest rate associated with advances related to development loans is 5.875% until substantial completion of the development project. Accrued interest on the outstanding principal amount of the Legacy Revolver is payable monthly. Pursuant to the Loan Renewal, Extension and Modification Agreement entered into in October 2012, the maturity date of the Legacy Revolver, which was originally October 12, 2012, was extended to January 12, 2013. Pursuant to the Loan Renewal, Extension and Modification Agreement entered into in January 2013, the maturity date of the Legacy Revolver was extended to January 12, 2015. Proceeds from the Legacy Revolver will be used to fund our obligations under certain eligible finished lot, construction and development loans that are approved in advance by Legacy. The Legacy Revolver is secured by a first priority collateral assignment and lien on certain mortgage notes and construction loans held by UDF IV FIII. The Legacy Revolver is guaranteed by us.
	In connection with the Legacy Revolver, UDF IV FIII agreed to pay an origination fee of $50,000 to Legacy and in connection with the extension entered into in January 2013, UDF IV FIII agreed to pay an additional $50,000 renewal fee to Legacy. In addition, UDF IV FIII agreed to pay Debt Financing Fees to UMTH GS in connection with the Legacy Revolver. See Note O – Related Party Transactions, for further discussion of fees paid to related parties.
	As of June 30, 2013 and December 31, 2012, approximately $99,000 and $142,000, respectively, in principal was outstanding under the Legacy Revolver. Interest expense associated with the Legacy Revolver was approximately $1,000 and $12,000 for the three months ended June 30, 2013 and 2012, respectively, and approximately $3,000 and $25,000 for the six months ended June 30, 2013 and 2012, respectively.
	Veritex Revolver
	On July 31, 2012, UDF IV Fin IV obtained a revolving credit facility from Veritex Community Bank, National Association (“Veritex”) in the maximum principal amount of $5.3 million pursuant to a loan agreement (the “Veritex Revolver”). The interest rate under the Veritex Revolver is equal to the greater of prime plus 1.5% or 5% per annum (5% at June 30, 2013).  Accrued interest on the outstanding principal amount of the Veritex Revolver is payable monthly. The Veritex Revolver matures and becomes due and payable in full on July 31, 2015. The Veritex Revolver is secured by a first priority collateral assignment and lien on certain finished lot loans funded by UDF IV Fin IV and is guaranteed by us.
	In connection with the Veritex Revolver, UDF IV Fin IV agreed to pay an origination fee of $53,000 to Veritex. In addition, UDF IV Fin IV agreed to pay Debt Financing Fees to UMTH GS in connection with the Veritex Revolver. See Note O – Related Party Transactions, for further discussion of fees paid to related parties.
	As of June 30, 2013 and December 31, 2012 approximately $3.3 million and $5.0 million, respectively, in principal was outstanding under the Veritex Revolver. Interest expense associated with the Veritex Revolver was approximately $48,000 and $107,000 for the three and six months ended June 30, 2013, respectively.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments Contingencies and Guarantees [Text Block]	'
	M. Commitments and Contingencies
	Litigation
	In the ordinary course of business, the Trust may become subject to litigation or claims. There are no material pending or threatened legal proceedings known to be contemplated against the Trust.
	Off-Balance Sheet Arrangements
	From time to time, we enter into guarantees of debtor’s borrowings and provide credit enhancements for the benefit of senior lenders in connection with our debtors and investments in partnerships (collectively referred to as “guarantees”), and account for such guarantees in accordance with FASB ASC 460-10, Guarantees. Guarantees generally have fixed expiration dates or other termination clauses and may require payment of a fee by the debtor. A guarantee involves, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. Our exposure to credit loss in the event of non-performance by the other party to the instrument is represented by the contractual notional amount of the guarantee.
	In connection with the funding of some of our organization costs, on June 26, 2009, UMTH LD entered into a $6.3 million line of credit (as amended, the “UMTH LD CTB LOC”) with CTB. Effective February 26, 2012, UMTH LD entered into a second loan modification agreement with CTB, which resulted in an extension of the maturity date on the UMTH LD CTB LOC to December 26, 2014. UMTH LD has a receivable from our Advisor for organization costs funded by UMTH LD on behalf of the Trust and such costs are repaid by our Advisor to UMTH LD as our Advisor receives the O&O Reimbursement discussed in Note H. UMTH LD has assigned this receivable to the bank as security for the UMTH LD CTB LOC. In addition, the UMTH LD CTB LOC is secured by a collateral assignment of a first priority note and deed of trust held by a subsidiary of UMTH LD against a residential real estate project. As a condition to the modification entered into in February 2012, the Trust agreed to guaranty all obligations under the UMTH LD CTB LOC. As of June 30, 2013 and December 31, 2012, the outstanding balance on the line of credit was $5.7 million and $6.2 million, respectively.
	Effective December 30, 2011, we entered into a Guaranty of Payment and Guaranty of Completion (collectively, the “Stoneleigh Guaranty”) for the benefit of Babson Mezzanine Realty Investors II, L.P. (“Babson”) as agent for a group of lenders pursuant to which we guaranteed all amounts due associated with a $25.0 million construction loan agreement (the “Stoneleigh Construction Loan”) entered into between Maple Wolf Stoneleigh, LLC, an affiliated Delaware limited liability company (“Stoneleigh”), and Babson. Pursuant to the Stoneleigh Construction Loan, Babson will provide Stoneleigh with up to approximately $25.0 million to finance the construction associated with a condominium project located in Dallas, Texas. United Development Funding Land Opportunity Fund, L.P., an affiliated Delaware limited partnership (“UDF LOF”), owns a 75% interest in Stoneleigh. Our asset manager, UMTH LD, also serves as the asset manager of UDF LOF. The general partner of our Advisor also serves as the general partner of UMTH LD. UMTH LD controls 100% of the partnership interests of the general partner of UDF LOF. In consideration of us entering into the Stoneleigh Guaranty, we entered into a letter agreement with Stoneleigh which provides for Stoneleigh to pay us a monthly credit enhancement fee equal to 1/12th of 1% of the outstanding principal balance on the Stoneleigh Construction Loan at the end of each month. As of June 30, 2013 and December 31, 2012, approximately $8.7 million and $9.7 million, respectively, was outstanding under the Stoneleigh Construction Loan. For the three and six months ended June 30, 2013, approximately $25,000 and $54,000, respectively, is included in commitment fee income – related parties in connection with the credit enhancement fee associated with the Stoneleigh Construction Loan.
	As of June 30, 2013, including the guarantees described above, we had 7 outstanding repayment guarantees with total credit risk to us of approximately $51.9 million, of which approximately $24.6 million had been borrowed against by the debtor. As of December 31, 2012, we had 7 outstanding repayment guarantees with total credit risk to us of approximately $51.9 million, of which approximately $27.5 million had been borrowed against by the debtor.

Economic_Dependency

Economic Dependency	6 Months Ended
	Jun. 30, 2013
Economic Dependency [Abstract]	'
Economic Dependency Disclosure [Text Block]	'
	N. Economic Dependency
	Under various agreements, the Trust has engaged or will engage the Advisor and its affiliates to provide certain services that are essential to the Trust, including asset management services, asset acquisition and disposition decisions, the sale of the Trust’s common shares of beneficial interest available for issue, as well as other administrative responsibilities for the Trust. As a result of these relationships, the Trust is dependent upon the Advisor and its affiliates. In the event that these entities were unable to provide the Trust with the respective services, the Trust would be required to find alternative providers of these services.

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	O. Related Party Transactions
	All information in this footnote has been revised to reflect the effects of the Restatement described in Note C above.
	O&O Reimbursement
	We pay our Advisor an O&O Reimbursement (as discussed in Note H) for reimbursement of organization and offering expenses funded by our Advisor or its affiliates. For the six months ended June 30, 2013 and the year ended December 31, 2012, we reimbursed our Advisor approximately $8.1 million and $5.9 million, respectively, in accordance with the O&O Reimbursement. As of June 30, 2013, no unpaid organization and offering costs are included in accrued liabilities – related parties. As of December 31, 2012, approximately $4.7 million is included in accrued liabilities – related parties in connection with organization and offering costs payable to our Advisor or its affiliates related to the Offering.
	Advisory Fees
	We incur monthly Advisory Fees, payable to our Advisor, equal to 2% per annum of our average invested assets (as discussed in Note I). For the three months ended June 30, 2013 and 2012, approximately $1.8 million and $911,000, respectively, is included in advisory fee – related party expense for Advisory Fees payable to our Advisor. For the six months ended June 30, 2013 and 2012, approximately $3.5 million and $1.7 million, respectively, is included in advisory fee – related party expense for Advisory Fees payable to our Advisor. As of June 30, 2013 and December 31, 2012, approximately $642,000 and $499,000, respectively, is included in accrued liabilities – related parties associated with Advisory Fees payable to our Advisor.
	Acquisition and Origination Fees
	We incur Acquisition and Origination Fees equal to 3% of the net amount available for investment in secured loans and other real estate assets (as discussed in Note B and Note I); provided, however, that no such fees will be paid with respect to any asset level indebtedness we incur. The fees are further reduced by the amount of any acquisition and origination expenses paid by borrowers or investment entities to our Advisor or affiliates of our Advisor with respect to our investment. Such costs are expensed as incurred and are payable to UMTH LD, our asset manager. See Note C for further discussion of the Restatement associated with Acquisition and Origination Fees. The general partner of our Advisor is also the general partner of UMTH LD. For the three months ended June 30, 2013 and 2012, approximately $2.4 million and $1.0 million, respectively, is included in general and administrative – related parties expense associated with Acquisition and Origination Fees payable to UMTH LD. For the six months ended June 30, 2013 and 2012, approximately $3.2 million and $1.4 million, respectively, is included in general and administrative – related parties expense associated with Acquisition and Origination Fees payable to UMTH LD. As of June 30, 2013, approximately $3.0 million is included in accrued receivable – related parties associated with Acquisition and Origination Fees paid to UMTH LD. As of December 31, 2012, approximately $868,000 is included in accrued liabilities – related parties associated with Acquisition and Origination Fees payable to UMTH LD.
	Debt Financing Fees
	Pursuant to the origination of any line of credit or other debt financing, we pay our Advisor Debt Financing Fees, as discussed in Note I.  These Debt Financing Fees are expensed on a straight line basis over the life of the financing arrangement.
	The following table represents the approximate amortization expense recognized for the periods indicated in connection with Debt Financing Fees paid to our Advisor associated with our credit facility and lines of credit:
		For the Three Months Ended June 30,						For the Six Months Ended June 30,
	Facility	2013			2012			2013			2012
	UDF IV HF CTB LOC	$	10,000		$	7,000		$	18,000		$	12,000
	Credit Facility		3,000			5,000			6,000			11,000
	F&M Loan		5,000			16,000			11,000			32,000
	CTB Revolver		67,000			9,000			81,000			18,000
	UTB Revolver		3,000			3,000			5,000			7,000
	Legacy Revolver		-			13,000			4,000			25,000
	Veritex Revolver		5,000			-			9,000			-
	Total	$	93,000		$	53,000		$	134,000		$	105,000
	As of June 30, 2013, no unpaid Debt Financing Fees are included in accrued liabilities – related parties. As of December 31, 2012, approximately $44,000 is included in accrued liabilities – related parties associated with unpaid Debt Financing Fees.
	Credit Enhancement Fees
	We and our wholly-owned subsidiaries will occasionally enter into financing arrangements that require guarantees from entities affiliated with us. These guarantees require us to pay fees (“Credit Enhancement Fees”) to our affiliated entities as consideration for their guarantees. These Credit Enhancement Fees are either expensed as incurred or prepaid and amortized, based on the terms of the guarantee agreements.
	In consideration of UDF III guaranteeing the UDF IV HF CTB LOC entered into in May 2010 and discussed in Note L, UDF IV HF agreed to pay UDF III an annual credit enhancement fee equal to 1% of the line of credit amount. The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD is the general partner of UDF III. UDF III has received an opinion from Jackson Claborn, Inc., an independent advisor, that this credit enhancement is fair and at least as reasonable as a credit enhancement with an unaffiliated entity in similar circumstances. For the three months ended June 30, 2013 and 2012, approximately $16,000 and $15,000, respectively, is included in general and administrative – related parties expense for Credit Enhancement Fees paid to UDF III in connection with its guarantee of the UDF IV HF CTB LOC. For the six months ended June 30, 2013 and 2012, approximately $31,000 and $30,000, respectively, is included in general and administrative – related parties expense for Credit Enhancement Fees paid to UDF III in connection with its guarantee of the UDF IV HF CTB LOC.
	In consideration of UDF III guaranteeing the CTB Revolver entered into in August 2010 and discussed in Note L, UDF IV AC agreed to pay UDF III a monthly credit enhancement fee equal to 1/12th of 1% of the outstanding principal balance of the CTB Revolver at the end of each month. The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD is the general partner of UDF III. UDF III has received an opinion from Jackson Claborn, Inc., an independent advisor, that this credit enhancement is fair and at least as reasonable as a credit enhancement with an unaffiliated entity in similar circumstances. For the three months ended June 30, 2013 and 2012, approximately $13,000 and $14,000, respectively, is included in general and administrative – related parties expense for Credit Enhancement Fees paid to UDF III in connection with its guarantee of the CTB Revolver. For the six months ended June 30, 2013 and 2012, approximately $33,000 and $28,000, respectively, is included in general and administrative – related parties expense for Credit Enhancement Fees paid to UDF III in connection with its guarantee of the CTB Revolver.
	In consideration of UDF III guaranteeing the F&M Loan entered into in December 2010 and discussed in Note L, UDF IV FII agreed to pay UDF III a monthly credit enhancement fee equal to 1/12th of 1% of the outstanding principal balance of the F&M Loan at the end of each month. The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD is the general partner of UDF III. UDF III has received an opinion from Jackson Claborn, Inc., an independent advisor, that this credit enhancement is fair and at least as reasonable as a credit enhancement with an unaffiliated entity in similar circumstances. For the three months ended June 30, 2013 and 2012, approximately $14,000 and $15,000, respectively, is included in general and administrative – related parties expense for Credit Enhancement Fees paid to UDF III in connection with its guarantee of the F&M Loan. For the six months ended June 30, 2013 and 2012, approximately $28,000 and $29,000, respectively, is included in general and administrative – related parties expense for Credit Enhancement Fees paid to UDF III in connection with its guarantee of the F&M Loan.
	As of June 30, 2013 and December 31, 2012, approximately $4,000 and $11,000, respectively, is included in accrued liabilities – related parties associated with Credit Enhancement Fees payable to our Advisor or its affiliates.
	The chart below summarizes the approximate payments to related parties for the six months ended June 30, 2013 and the year ended December 31, 2012:
	Payee	Purpose		For the Six Months						For the Year Ended
				Ended						December 31, 2012
				June 30, 2013
	UMTH GS
		O&O Reimbursement		$	8,137,000		43	%		$	5,878,000		38	%
		Advisory Fees			3,333,000		18	%			3,924,000		26	%
		Debt Financing Fees			210,000		1	%			148,000		1	%
	UMTH LD
		Acquisition and Origination Fees			7,125,000		37	%			5,155,000		34	%
	UDF III
		Credit Enhancement Fees			128,000		1	%			115,000		1	%
	Total Payments			$	18,933,000		100	%		$	15,220,000		100	%
	The chart below summarizes the approximate expenses associated with related parties for the three months ended June 30, 2013 and 2012:
		For the Three Months Ended June 30,
	Purpose	2013						2012
	Advisory Fees	$	1,835,000		100	%		$	911,000		100	%
	Total Advisory fee – related party	$	1,835,000		100	%		$	911,000		100	%
	Amortization of Debt Financing Fees	$	93,000		4	%		$	53,000		5	%
	Acquisition and Origination Fees		2,397,000		95	%			1,041,000		91	%
	Credit Enhancement Fees		43,000		1	%			44,000		4	%
	Total General and administrative – related parties	$	2,533,000		100	%		$	1,138,000		100	%
	he chart below summarizes the approximate expenses associated with related parties for the six months ended June 30, 2013 and 2012:
		For the Six Months Ended June 30,
	Purpose	2013						2012
	Advisory Fees	$	3,476,000		100	%		$	1,687,000		100	%
	Total Advisory fee – related party	$	3,476,000		100	%		$	1,687,000		100	%
	Amortization of Debt Financing Fees	$	134,000		4	%		$	105,000		7	%
	Acquisition and Origination Fees		3,226,000		93	%			1,410,000		88	%
	Credit Enhancement Fees		93,000		3	%			88,000		5	%
	Total General and administrative – related parties	$	3,453,000		100	%		$	1,603,000		100	%
	Loan Participation Interest – Related Parties
	Buffington Participation Agreements
	On December 18, 2009, we entered into two participation agreements (collectively, the “Buffington Participation Agreements”) with UMT Home Finance, LP (“UMTHF”), an affiliated Delaware limited partnership, pursuant to which we purchased a participation interest in UMTHF’s construction loans (the “Construction Loans”) to Buffington Texas Classic Homes, LLC (“Buffington Classic”), an affiliated Texas limited liability company, and Buffington Signature Homes, LLC (“Buffington Signature”), an affiliated Texas limited liability company (collectively, “Buff Homes”). Our Advisor also serves as the advisor for United Mortgage Trust (“UMT”), a Maryland real estate investment trust, which owns 100% of the interests in UMTHF. UMTH LD has a minority limited partnership interest in Buffington Homebuilding Group, Ltd., which is the parent of Buff Homes.
	The Construction Loans originally provided Buff Homes, which is a homebuilding group, with residential interim construction financing for the construction of new homes in the greater Austin, Texas area through October 28, 2012. In connection with the maturity of the Construction Loans, the Buffington Participation Agreements originally terminated on October 28, 2012, as well. Pursuant to a letter agreement entered into on October 28, 2012, UMTHF extended the termination date of the Construction Loans to October 28, 2013 and, in connection with this extension, we have extended the Buffington Participation Agreements to October 28, 2013. In determining whether to extend this participation, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors.
The Construction Loans are evidenced by promissory notes, are secured by first lien deeds of trust on the homes financed under the Construction Loans, and are guaranteed by the parent company and the principal of Buff Homes. Each loan financed under the Construction Loans matures and becomes due and payable in full upon the earlier of (i) the sale of the home financed under the loan, or (ii) nine months after the loan was originated; provided, that the maturity of each loan may be extended for additional 90-day terms following the original maturity date. For each loan originated to it, Buff Homes is required to pay interest monthly and to repay the principal advanced to it upon the sale of the home or in any event no later than 12 months following the origination of the loan, unless the loan is further extended. The interest rate under the Construction Loans is the lower of 13% or the highest rate allowed by law.
On April 9, 2010, we entered into an Agent – Participant Agreement with UMTHF (the “UMTHF Agent Agreement”). In accordance with the UMTHF Agent Agreement, UMTHF will continue to manage and control the Construction Loans and each participant party has appointed UMTHF as its agent to act on its behalf with respect to all aspects of the Construction Loans, provided that, pursuant to the UMTHF Agent Agreement, we retain approval rights in connection with any material decisions pertaining to the administration and services of the loans and, with respect to any material modification to the loans and in the event that the loans become non-performing, we shall have effective control over the remedies relating to the enforcement of the loans, including ultimate control of the foreclosure process.
Pursuant to the Buffington Participation Agreements, we will participate in the Construction Loans by funding the lending obligations of UMTHF under the Construction Loans up to a maximum amount determined by us at our discretion. The Buffington Participation Agreements give us the right to receive payment from UMTHF of principal and accrued interest relating to amounts funded by us under the Buffington Participation Agreements. The interest rate under the Construction Loans is the lower of 13% or the highest rate allowed by law. Our participation interest is repaid as Buff Homes repays the Construction Loans or as the individual construction loans mature.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the Buffington Participation Agreements as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013 and December 31, 2012, approximately $971,000 and $7.2 million, respectively, is included in loan participation interest – related parties related to the Buffington Participation Agreements. For the three months ended June 30, 2013 and 2012, we recognized approximately $92,000 and $198,000, respectively, of interest income – related parties related to the Buffington Participation Agreements. For the six months ended June 30, 2013 and 2012, we recognized approximately $308,000 and $439,000, respectively, of interest income – related parties related to the Buffington Participation Agreements. Approximately $8,000 is included in accrued receivable – related parties as of June 30, 2013 for interest associated with the Buffington Participation Agreements. As of December 31, 2012, there is no accrued interest included in accrued receivable – related parties associated with the Buffington Participation Agreements.
Buffington Lot Participation Agreements
On March 24, 2010, we entered into two Participation Agreements (collectively, the “Buffington Lot Participation Agreements”) with UDF III pursuant to which we purchased a 100% participation interest in UDF III’s lot inventory line of credit loan facilities with Buffington Signature (the “Buffington Signature Line”) and Buffington Classic (the “Buffington Classic Line”) (collectively, the “Lot Inventory Loans”). The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD is the general partner of UDF III, and UMTH LD has a minority limited partnership interest in Buffington Homebuilding Group, Ltd., which is the parent of Buff Homes. The Lot Inventory Loans are evidenced by promissory notes, are secured by first lien deeds of trust on the lots financed under the Lot Inventory Loans, and are guaranteed by Buff Homes’ parent company and an affiliate company of Buff Homes. The Lot Inventory Loans provide Buff Homes with financing for the acquisition of residential lots which are held as inventory to facilitate Buff Homes’ new home construction business in the greater Austin, Texas area. When a lot is slated for residential construction, Buff Homes obtains an interim construction loan and the principal advanced for the acquisition of the lot is repaid under the Lot Inventory Loans.
On April 9, 2010, we entered into an Agent Agreement with UDF III (the “Agent Agreement”). In accordance with the Agent Agreement, UDF III will continue to manage and control the Lot Inventory Loans and each participant party has appointed UDF III as its agent to act on its behalf with respect to all aspects of the Lot Inventory Loans, provided that, pursuant to the Agent Agreement, we retain approval rights in connection with any material decisions pertaining to the administration and services of the loans and, with respect to any material modification to the loans and in the event that the loans become non-performing, we shall have effective control over the remedies relating to the enforcement of the loans, including ultimate control of the foreclosure process.
Pursuant to the Buffington Lot Participation Agreements, we will participate in the Lot Inventory Loans by funding UDF III’s lending obligations under the Lot Inventory Loans up to a maximum amount of $2.5 million under the Buffington Signature Line and $2.0 million under the Buffington Classic Line. The Buffington Lot Participation Agreements give us the right to receive repayment of all principal and accrued interest relating to amounts funded by us under the Buffington Lot Participation Agreements. The interest rate for the Lot Inventory Loans is the lower of 14% or the highest rate allowed by law. Our participation interest is repaid as Buff Homes repays the Lot Inventory Loans. For each loan originated, Buff Homes is required to pay interest monthly and to repay the principal advanced no later than 12 months following the origination of the loan. The Buffington Signature Line matured and terminated in August 2011, at which time there was no outstanding balance, and our participation interest terminated simultaneously. The Buffington Classic Line was due and payable in full on August 21, 2012. Effective August 21, 2012, pursuant to an extension agreement, UDF III extended the maturity date of the Buffington Classic Line to August 21, 2013 and, in connection with this extension agreement, we entered into a letter agreement with UDF III extending the lot participation agreement associated with the Buffington Classic Line to August 21, 2013. In determining whether to extend this participation, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors.
UDF III is required to purchase back from us the participation interest in the Lot Inventory Loans (i) upon a foreclosure of UDF III’s assets by its lenders, (ii) upon the maturity of the Lot Inventory Loans, or (iii) at any time upon 30 days prior written notice from us. In such event, the purchase price paid to us will be equal to the outstanding principal amount of the Lot Inventory Loans on the date of termination, together with all accrued interest due thereon, plus any other amounts due to us under the Buffington Lot Participation Agreements.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the Buffington Lot Participation Agreements as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013 and December 31, 2012, approximately $357,000 and $499,000, respectively, is included in loan participation interest – related parties related to the participation in the Buffington Classic Line. For the three months ended June 30, 2013 and 2012, we recognized approximately $15,000 and $8,000, respectively, of interest income – related parties related to the participation in the Buffington Classic Line. For the six months ended June 30, 2013 and 2012, we recognized approximately $32,000 and $16,000, respectively, of interest income – related parties related to the participation in the Buffington Classic Line. As of June 30, 2013, there is no accrued interest included in accrued receivable – related parties associated with the Buffington Classic Line. Approximately $20,000 is included in accrued receivable – related parties as of December 31, 2012 for interest associated with the Buffington Classic Line.
TR Finished Lot Participation
On June 30, 2010, we purchased a participation interest (the “TR Finished Lot Participation”) in a finished lot loan (the “Travis Ranch II Finished Lot Loan”) made by UDF III to CTMGT Travis Ranch II, LLC, an unaffiliated Texas limited liability company. UMTH LD is the general partner of UDF III. The Travis Ranch II Finished Lot Loan was originally secured by a subordinate, second lien deed of trust recorded against finished residential lots in the Travis Ranch residential subdivision located in Kaufman County, Texas. The Travis Ranch II Finished Lot Loan is guaranteed by the limited liability company owners of the borrower and by the principal of the borrower.
In accordance with the TR Finished Lot Participation, we are entitled to receive repayment of our participation in the outstanding principal amount of the Travis Ranch II Finished Lot Loan, plus accrued interest thereon, over time as the borrower repays the loan. We have no obligation to increase our participation interest in the Travis Ranch II Finished Lot Loan. The interest rate under the Travis Ranch II Finished Lot Loan is the lower of 15% or the highest rate allowed by law. The borrower obtained a senior loan secured by a first lien deed of trust on the finished lots, which was paid in full in the first quarter of 2013. As a result, the UDF III deed of trust became a first lien. For so long as the senior loan was outstanding, proceeds from the sale of the residential lots securing the Travis Ranch II Finished Lot Loan were paid to the senior lender and were applied to reduce the outstanding balance of the senior loan. Following the payment of the senior loan in full, the proceeds from the sale of the residential lots securing the Travis Ranch II Finished Lot Loan are required to be used to repay the Travis Ranch II Finished Lot Loan. The Travis Ranch II Finished Lot Loan and our participation in this loan were originally due and payable in full on August 28, 2012. Effective January 28, 2013, pursuant to a Second Loan Modification Agreement, UDF III extended the maturity date of the Travis Ranch II Finished Lot Loan to January 28, 2014. The TR Finished Lot Participation was also extended to January 28, 2014 in connection with this modification. In determining whether to extend this participation, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the TR Finished Lot Participation as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of both June 30, 2013 and December 31, 2012, approximately $3.6 million is included in loan participation interest – related parties related to the TR Finished Lot Participation. For the three months ended June 30, 2013 and 2012, we recognized approximately $134,000 and $104,000, respectively, of interest income – related parties related to this participation interest. For the six months ended June 30, 2013 and 2012, we recognized approximately $267,000 and $206,000, respectively, of interest income – related parties related to this participation interest. Approximately $29,000 and $175,000 is included in accrued receivable – related parties as of June 30, 2013 and December 31, 2012, respectively, for interest associated with the TR Finished Lot Participation.
TR Paper Lot Participation
On June 30, 2010, we purchased a participation interest (the “TR Paper Lot Participation”) in a paper lot loan (the “Travis Ranch Paper Lot Loan”) from UDF III to CTMGT Travis Ranch, LLC, an unaffiliated Texas limited liability company. The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD is the general partner of UDF III. A “paper” lot is a residential lot shown on a plat that has been accepted by the city or county, but which is currently undeveloped or under development. The borrower owns paper lots in the Travis Ranch residential subdivision of Kaufman County, Texas. The Travis Ranch Paper Lot Loan was initially secured by a pledge of the equity interests in the borrower instead of a real property lien, effectively subordinating the Travis Ranch Paper Lot Loan to all real property liens. The Travis Ranch Paper Lot Loan is guaranteed by the limited liability company owners of the borrower and by the principal of the borrower.
We are entitled to receive repayment of our participation in the outstanding principal amount of the Travis Ranch Paper Lot Loan, plus its proportionate share of accrued interest thereon, over time as the borrower repays the Travis Ranch Paper Lot Loan. We have no obligation to increase our participation interest in the Travis Ranch Paper Lot Loan. The interest rate under the Travis Ranch Paper Lot Loan is the lower of 15% or the highest rate allowed by law. The borrower has obtained a senior loan secured by a first lien deed of trust on the paper lots. For so long as the senior loan is outstanding, proceeds from the sale of the paper lots will be paid to the senior lender and will be applied to reduce the outstanding balance of the senior loan. After the senior loan is paid in full, the proceeds from the sale of the paper lots are required to be used to repay the Travis Ranch Paper Lot Loan. The Travis Ranch Paper Lot Loan and our participation in this loan was originally due and payable in full on September 24, 2012. Effective January 28, 2013, pursuant to a Loan Modification Agreement, UDF III extended the maturity date of the Travis Ranch Paper Lot Loan to January 28, 2014. The TR Paper Lot Participation was also extended to January 28, 2014 in connection with this modification. In determining whether to extend this participation, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the TR Paper Lot Participation as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013 and December 31, 2012, approximately $11.0 million and $10.6 million, respectively, is included in loan participation interest – related parties related to the TR Paper Lot Participation. For the three months ended June 30, 2013 and 2012, we recognized approximately $407,000 and $346,000, respectively, of interest income – related parties related to the TR Paper Lot Participation. For the six months ended June 30, 2013 and 2012, we recognized approximately $800,000 and $691,000, respectively, of interest income – related parties related to the TR Paper Lot Participation. Approximately $1.2 million and $401,000 is included in accrued receivable – related parties as of June 30, 2013 and December 31, 2012, respectively, for interest associated with the TR Paper Lot Participation.
Carrollton Participation Agreement
On June 10, 2011, we entered into a participation agreement (the “Carrollton Participation Agreement”) with UMT Home Finance III, LP (“UMTHFIII”), an affiliated Delaware limited partnership, pursuant to which we purchased a participation interest in UMTHFIII’s finished lot loan (the “Carrollton Lot Loan”) to Carrollton TH, LP (“Carrollton TH”), an unaffiliated Texas limited partnership. Our Advisor also serves as the advisor for UMT, which owns 100% of the interests in UMTHFIII. The Carrollton Lot Loan provides Carrollton TH with a finished lot loan totaling $3.4 million for townhome lots located in Carrollton, Texas. The Carrollton Lot Loan is evidenced by a promissory note, is secured by first lien deeds of trust on the finished lots financed under the Carrollton Lot Loan, and is guaranteed by the borrower’s general partner and its principal.
The Carrollton Participation Agreement gives us the right to receive payment from UMTHFIII of principal and accrued interest relating to amounts funded by us under the Carrollton Participation Agreement. We have no obligations to increase our participation in the Carrollton Lot Loan. The interest rate under the Carrollton Lot Loan is the lower of 13% or the highest rate allowed by law. Our interest will be repaid as Carrollton TH repays the Carrollton Lot Loan. Carrollton TH is required to pay interest monthly and to repay a portion of principal upon the sale of lots covered by the deed of trust. The original maturity date of the Carrollton Lot Loan is June 10, 2014 and the original maturity date of the Carrollton Participation Agreement was March 10, 2012. Pursuant to a letter agreement entered into in March 2012, the Carrollton Participation Agreement maturity date was extended from March 10, 2012 to December 10, 2012. Pursuant to a letter agreement entered into in December 2012, the Carrollton Participation Agreement maturity date was extended from December 10, 2012 to June 10, 2014. In determining whether to extend this participation, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the Carrollton Participation Agreement as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013, there is no balance associated with the Carrollton Participation Agreement included in loan participation interest – related parties. As of December 31, 2012, approximately $817,000 is included in loan participation interest – related parties related to the Carrollton Participation Agreement. For the three months ended June 30, 2013 and 2012, we recognized approximately $4,000 and $89,000, respectively, of interest income – related parties related to the Carrollton Participation Agreement. For the six months ended June 30, 2013 and 2012, we recognized approximately $28,000 and $107,000, respectively, of interest income – related parties related to the Carrollton Participation Agreement. As of June 30, 2013, there is no accrued interest included in accrued receivable – related parties associated with the Carrollton Participation Agreement. Approximately $3,000 is included in accrued receivable – related parties as of December 31, 2012 for interest associated with the Carrollton Participation Agreement.
165 Howe Participation Agreement
On October 4, 2011, we entered into a participation agreement (the “165 Howe Participation Agreement”) with UMT Home Finance III, LP (“UMTHFIII”), an affiliated Delaware limited partnership, pursuant to which we purchased a participation interest in UMTHFIII’s finished lot loan (the “165 Howe Lot Loan”) to 165 Howe, L.P., an unaffiliated Texas limited partnership, and Allen Partners, L.P., an unaffiliated Texas limited partnership (collectively, “165 Howe”). Our Advisor also serves as the advisor for UMT, which owns 100% of the interests in UMTHFIII. The 165 Howe Lot Loan provides 165 Howe with a finished lot loan totaling $2.9 million for finished single-family residential lots located in Fort Worth, Texas. The 165 Howe Lot Loan is evidenced by a promissory note, is secured by first lien deeds of trust on the finished lots financed under the 165 Howe Lot Loan, and is guaranteed by the borrower’s general partner and its principal.
The 165 Howe Participation Agreement gives the Trust the right to receive payment from UMTHFIII of principal and accrued interest relating to amounts funded by the Trust under the 165 Howe Participation Agreement. We have no obligations to increase our participation in the 165 Howe Lot Loan. The interest rate under the 165 Howe Lot Loan is the lower of 11.5% or the highest rate allowed by law. Our interest will be repaid as 165 Howe repays the 165 Howe Lot Loan. 165 Howe is required to pay interest monthly and to repay a portion of principal upon the sale of lots covered by the deed of trust. The original maturity date of the 165 Howe Lot Loan is October 4, 2013. The original maturity date of the 165 Howe Participation Agreement was July 4, 2012. Pursuant to a letter agreement entered into in July 2012, the 165 Howe Participation Agreement maturity date was extended from July 4, 2012 to December 10, 2012. Pursuant to a letter agreement entered into in December 2012, the 165 Howe Participation Agreement maturity date was extended from December 10, 2012 to October 4, 2013. In determining whether to extend this participation, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the 165 Howe Participation Agreement as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013 and December 31, 2012, approximately $599,000 and $1.3 million, respectively, is included in loan participation interest – related parties related to the 165 Howe Participation Agreement. For the three months ended June 30, 2013 and 2012, we recognized approximately $32,000 and $5,000, respectively, of interest income – related parties related to the 165 Howe Participation Agreement. For the six months ended June 30, 2013 and 2012, we recognized approximately $68,000 and $83,000, respectively, of interest income – related parties related to the 165 Howe Participation Agreement. Approximately $1,000 and $21,000 is included in accrued receivable – related parties as of June 30, 2013 and December 31, 2012, respectively, for interest associated with the 165 Howe Participation Agreement.
Pine Trace Participation Agreement
On May 31, 2012, we entered into a participation agreement (the “Pine Trace Participation Agreement”) with UMTHFIII pursuant to which we purchased a participation interest in UMTHFIII’s loan (the “Pine Trace Loan”) to Pine Trace Village, LLC, an unaffiliated Texas limited liability company (“Pine Trace”). Our Advisor also serves as the advisor for UMT, which owns 100% of the interests in UMTHFIII. The Pine Trace Loan was initially secured by approximately 118 finished lots and 151 acres of undeveloped land located in Houston, TX. The Pine Trace Loan is evidenced by a promissory note and is secured by first lien deeds of trust on the finished lots financed under the Pine Trace Loan.
The Pine Trace Participation Agreement gives us the right to receive payment from UMTHFIII of principal and accrued interest relating to amounts funded by us under the Pine Trace Participation Agreement. The interest rate under the Pine Trace Loan is the lower of 13% or the highest rate allowed by law. Our interest will be repaid as Pine Trace repays the Pine Trace Loan. Pine Trace is required to pay interest monthly and to repay a portion of principal upon the sale of lots covered by the deed of trust. The Pine Trace Loan and our participation in this loan were originally due and payable in full on March 29, 2013. Effective March 29, 2013, pursuant to the Third Loan Modification Agreement, UMTHFIII extended the maturity date of the Pine Trace Loan to March 29, 2014. The Pine Trace Participation Agreement was also extended to March 29, 2014 in connection with this modification. In determining whether to extend this participation, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the Pine Trace Participation Agreement as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013 and December 31, 2012, approximately $5.4 million and $5.2 million, respectively, is included in loan participation interest – related parties related to the Pine Trace Participation Agreement. For the three months ended June 30, 2013 and 2012, we recognized approximately $177,000 and $63,000, respectively, of interest income – related parties related to the Pine Trace Participation Agreement. For the six months ended June 30, 2013 and 2012, we recognized approximately $344,000 and $63,000, respectively, of interest income – related parties related to the Pine Trace Participation Agreement. Approximately $177,000 and $134,000 is included in accrued receivable – related parties as of June 30, 2013 and December 31, 2012, respectively, for interest associated with the Pine Trace Participation Agreement.
Northpointe Participation Agreement
On June 11, 2012, we entered into a participation agreement (the “Northpointe Participation Agreement”) with UDF III pursuant to which we purchased a participation interest in UDF III’s loan (the “Northpointe Loan”) to UDF Northpointe, LLC, an unaffiliated Texas limited liability company (“Northpointe”). The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD is the general partner of UDF III. The Northpointe Loan was initially secured by approximately 303 lots located in Collin County, Tarrant County and Kaufman County, Texas. The Northpointe Loan is evidenced by a promissory note and is secured by first lien deeds of trust on the lots financed under the Northpointe Loan.
The Northpointe Participation Agreement gives us the right to receive payment from UDF III of principal and accrued interest relating to amounts funded by us under the Northpointe Participation Agreement. The interest rate under the Northpointe Loan is the lower of 12% or the highest rate allowed by law. Our interest will be repaid as Northpointe repays the Northpointe Loan. Northpointe is required to pay interest monthly and to repay a portion of principal upon the sale of lots covered by the deed of trust. The Northpointe Loan and our participation in this loan were originally due and payable in full on December 4, 2012. Effective December 4, 2012, pursuant to a loan modification agreement, UDF III extended the maturity date of the Northpointe Loan to June 4, 2013. The Northpointe Participation Agreement was also extended to June 4, 2013 in connection with this modification. Effective June 4, 2013, pursuant to a loan modification agreement, UDF III extended the maturity date of the Northpointe Loan to June 4, 2014. The Northpointe Participation Agreement was also extended to June 4, 2014 in connection with this modification. In determining whether to extend this participation, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the Northpointe Participation Agreement as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013 and December 31, 2012, approximately $1.6 million and $212,000 is included in loan participation interest – related parties related to the Northpointe Participation Agreement. For the three months ended June 30, 2013 and 2012, we recognized approximately $36,000 and $11,000, respectively, of interest income – related parties related to the Northpointe Participation Agreement. For the six months ended June 30, 2013 and 2012, we recognized approximately $44,000 and $11,000, respectively, of interest income – related parties related to the Northpointe Participation Agreement. Approximately $44,000 is included in accrued receivable – related parties as of June 30, 2013, for interest associated with the Northpointe Participation Agreement. As of December 31, 2012, there is no accrued interest included in accrued receivable – related parties associated with the Northpointe Participation Agreement.
Northpointe II Participation Agreement
On May 2, 2013, we entered into a participation agreement (the “Northpointe II Participation Agreement”) with UDF III pursuant to which we purchased a participation interest in UDF III’s loan (the “Northpointe II Loan”) to UDF Northpointe II, LLC (“Northpointe II”). The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD is the general partner of UDF III. The Northpointe II Loan is evidenced by two secured promissory notes and was initially secured by second lien deeds of trust on approximately 251 finished lots and 110 acres of land in Texas.
The Northpointe II Participation Agreement gives us the right to receive payment from UDF III of principal and accrued interest relating to amounts funded by us under the Northpointe II Participation Agreement. The interest rate under the Northpointe II Loan is the lower of 12% or the highest rate allowed by law. Our interest will be repaid as Northpointe II repays the Northpointe II Loan. Northpointe II is required to pay interest monthly and to repay a portion of principal upon the sale of lots covered by the deed of trust. The Northpointe II Loan and our participation in this loan are due and payable in full on December 28, 2013.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the Northpointe II Participation Agreement as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013, approximately $3.3 million is included in loan participation interest – related parties related to the Northpointe II Participation Agreement. For both the three and six months ended June 30, 2013, we recognized approximately $44,000 of interest income – related parties related to the Northpointe II Participation Agreement. As of June 30, 2013, there is no accrued interest included in accrued receivable – related parties associated with the Northpointe II Participation Agreement.
Notes Receivable – Related Parties
HLL Indian Springs Loan
On January 18, 2010, we made a finished lot loan (the “HLL Indian Springs Loan”) of approximately $1.8 million to HLL Land Acquisitions of Texas, L.P., an affiliated Texas limited partnership (“HLL”). HLL is a wholly owned subsidiary of United Development Funding, L.P. (“UDF I”), an affiliated Delaware limited partnership. The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD also serves as the asset manager of UDF I. The HLL Indian Springs Loan was initially evidenced and secured by a first lien deed of trust recorded against approximately 71 finished residential lots in The Preserve at Indian Springs, a residential subdivision in the City of San Antonio, Bexar County, Texas, as well as a promissory note, assignments of certain lot sale contracts and earnest money, and other loan documents. The interest rate under the HLL Indian Springs Loan is the lower of 13% or the highest rate allowed by law. The HLL Indian Springs Loan was scheduled to mature on July 18, 2013, pursuant to the First Modification Agreement dated July 18, 2011. In determining whether to modify this loan, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors. The HLL Indian Springs Loan was paid in full in May 2013. The HLL Indian Springs Loan provided HLL with an interest reserve of approximately $289,000 pursuant to which we funded HLL’s monthly interest payments and add the payments to the outstanding principal balance of the HLL Indian Springs Loan.
In connection with the HLL Indian Springs Loan, HLL agreed to pay an origination fee of approximately $18,000 to UMTH LD, which was funded by us at the closing of the HLL Indian Springs Loan.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the HLL Indian Springs Loan as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As the HLL Indian Springs Loan was paid in full in May 2013, there is no balance associated with this loan included in notes receivable – related parties as of June 30, 2013. As of December 31, 2012, approximately $1.5 million is included in notes receivable – related parties related to the HLL Indian Springs Loan. For the three months ended June 30, 2013 and 2012, we recognized approximately $1,000 and $25,000, respectively, of interest income – related parties related to this loan. For the six months ended June 30, 2013 and 2012, we recognized approximately $8,000 and $51,000, respectively, of interest income – related parties related to this loan. As the HLL Indian Springs Loan was paid in full in May 2013, there is no interest associated with this loan included in accrued receivable – related parties as of June 30, 2013. Approximately $2,000 is included in accrued receivable – related parties as of December 31, 2012 for interest associated with the HLL Indian Springs Loan.
Buffington Loan Agreements
On April 30, 2010, we entered into two construction loan agreements with Buffington Signature (the “Buffington Signature CL”) and Buffington Classic (the “Buffington Classic CL”) (collectively, the “Buffington Loan Agreements”) through which we agreed to provide interim construction loan facilities (collectively, the “Buffington Loan Facilities”) to Buffington Signature and Buffington Classic. The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD owns an investment in Buffington Homebuilding Group, Ltd., which is the parent of Buff Homes. Effective July 2010, we assigned our rights and obligations under the Buffington Loan Facilities to UDF IV HF.
The Buffington Signature CL provides Buffington Signature with up to $1.0 million in residential interim construction financing for the construction of new homes in the greater Austin, Texas area and other Texas counties approved by UDF IV HF. The Buffington Signature CL matured and was not renewed in October 2011, at which time there were no amounts outstanding and payable to UDF IV HF.
The Buffington Classic CL originally provided Buffington Classic with up to $6.5 million in residential interim construction financing for the construction of new homes in the greater Austin, Texas area and other Texas counties approved by UDF IV HF. Pursuant to the Third Modification to Construction Loan Agreement entered into between UDF IV HF and Buffington Classic in October 2011, the Buffington Classic CL provided Buffington Classic with up to $7.5 million in residential interim construction financing through October 28, 2012. Pursuant to a letter agreement entered into on October 28, 2012, we extended the maturity date of the Buffington Classic CL to October 28, 2013. In determining whether to modify this loan, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors.
The Buffington Loan Facilities are evidenced and secured by the Buffington Loan Agreements, promissory notes, first lien deeds of trust on the homes financed under the Buffington Loan Facilities and various other loan documents. They are guaranteed by the parent company and certain principals of Buff Homes. The interest rate under the Buffington Loan Facilities is the lower of 13% per annum, or the highest rate allowed by law. Interest is payable monthly. Each loan financed under the Buffington Loan Facilities matures and becomes due and payable in full upon the earlier of (i) the sale of the home financed under the loan, or (ii) nine months after the loan was originated; provided, that the maturity of the loan may be extended for additional 90-day terms following the original maturity date. At the closing of each loan, Buff Homes will pay a 0.5% origination fee to our asset manager.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the Buffington Loan Facilities as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013, there is no amount included in notes receivable – related parties associated with the Buffington Loan Facilities. As of December 31, 2012, approximately $399,000 is included in notes receivable – related parties related to the Buffington Loan Facilities. For the three months ended June 30, 2013, we did not recognize any interest income – related parties associated with the Buffington Classic CL. For the three months ended June 30, 2012, we recognized approximately $85,000 of interest income – related parties related to the Buffington Classic CL. For the six months ended June 30, 2013 and 2012, we recognized approximately $5,000 and $195,000, respectively, of interest income – related parties related to the Buffington Classic CL. As of June 30, 2013, there is no accrued interest included in accrued receivable – related parties associated with the Buffington Classic CL. Approximately $4,000 is included in accrued receivable – related parties as of December 31, 2012 for interest associated with the Buffington Classic CL.
HLL II Highland Farms Loan
Effective December 22, 2010, we made a finished lot loan (the “HLL II Highland Farms Loan”) of approximately $1.9 million to HLL II Land Acquisitions of Texas, L.P., an affiliated Texas limited partnership (“HLL II”). HLL II is a wholly owned subsidiary of UDF I. The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD also serves as the asset manager of UDF I. The HLL II Highland Farms Loan was initially evidenced and secured by a first lien deed of trust recorded against approximately 68 finished residential lots and 148 undeveloped lots in Highland Farms, a residential subdivision in the City of San Antonio, Bexar County, Texas, as well as a promissory note, assignments of certain lot sale contracts and earnest money, and other loan documents. The interest rate under the HLL II Highland Farms Loan is the lower of 13% or the highest rate allowed by law. The HLL II Highland Farms Loan matured and became due and payable in full on March 22, 2013. Pursuant to the First Loan Modification Agreement entered into effective March 22, 2013, we extended the maturity date of the HLL II Highland Farms Loan to March 22, 2014. In determining whether to modify this loan, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors. The HLL II Highland Farms Loan provides HLL II with an interest reserve of approximately $354,000 pursuant to which we will fund HLL II’s monthly interest payments and add the payments to the outstanding principal balance of the HLL II Highland Farms Loan.
In connection with the HLL II Highland Farms Loan, HLL II agreed to pay us an origination fee of approximately $19,000, which was funded at the closing of the loan. For the three months ended June 30, 2013, no amount is included in commitment fee income – related parties related to this fee. For the three months ended June 30, 2012, approximately $2,000 is included in commitment fee income – related parties related to this fee. For the six months ended June 30, 2013 and 2012, approximately $2,000 and $4,000, respectively, is included in commitment fee income – related parties related to this fee.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the HLL II Highland Farms Loan as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013 and December 31, 2012, approximately $1.4 million and $1.5 million, respectively, is included in notes receivable – related parties related to the HLL II Highland Farms Loan. For the three months ended June 30, 2013 and 2012, we recognized approximately $45,000 and $43,000, respectively, of interest income – related parties related to the HLL II Highland Farms Loan. For the six months ended June 30, 2013 and 2012, we recognized approximately $90,000 and $87,000, respectively, of interest income – related parties related to the HLL II Highland Farms Loan. Approximately $75,000 is included in accrued receivable – related parties as of June 30, 2013, for interest associated with the HLL II Highland Farms Loan. As of December 31, 2012, there is no accrued interest included in accrued receivable – related parties associated with the HLL II Highland Farms Loan.
HLL Hidden Meadows Loan
Effective February 17, 2011, we entered into a Loan Agreement providing for a maximum $9.9 million loan (the “HLL Hidden Meadows Loan”) to be made to HLL. HLL is a wholly owned subsidiary of UDF I. The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD also serves as the asset manager of UDF I. The HLL Hidden Meadows Loan was initially secured by (i) a first priority lien deed of trust to be recorded against 91 finished residential lots, 190 partially developed residential lots and residual undeveloped land located in the residential subdivision of Hidden Meadows, Harris County, Texas, (ii) the assignment of lot sale contracts providing for sales of finished residential lots to a builder, and (iii) the assignment of development reimbursements owing from a Municipal Utility District to HLL. The interest rate under the HLL Hidden Meadows Loan is the lower of 13% or the highest rate allowed by law. The HLL Hidden Meadows Loan matures and becomes due and payable in full on January 21, 2015. The HLL Hidden Meadows Loan provides HLL with an interest reserve, pursuant to which we will fund HLL’s monthly interest payments and add the payments to the outstanding principal balance of the HLL Hidden Meadows Loan.
In connection with the HLL Hidden Meadows Loan, HLL agreed to pay a $99,000 origination fee to us, which was funded at the closing of the HLL Hidden Meadows Loan. For both the three months ended June 30, 2013 and 2012, approximately $6,000 is included in commitment fee income – related parties related to this fee. For both the six months ended June 30, 2013 and 2012, approximately $12,000 is included in commitment fee income – related parties related to this fee.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the HLL Hidden Meadows Loan as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013 and December 31, 2012, approximately $10.1 million and $9.0 million, respectively, is included in notes receivable – related parties related to the HLL Hidden Meadows Loan. For the three months ended June 30, 2013 and 2012, we recognized approximately $326,000 and $231,000, respectively, of interest income – related parties related to the HLL Hidden Meadows Loan. For the six months ended June 30, 2013 and 2012, we recognized approximately $627,000 and $442,000, respectively, of interest income – related parties related to the HLL Hidden Meadows Loan. Approximately $384,000 and $853,000 is included in accrued receivable – related parties as of June 30, 2013 and December 31, 2012, respectively, for interest associated with the HLL Hidden Meadows Loan.
Ash Creek Loan
Effective April 20, 2011, we entered into a $3.0 million loan agreement (the “Ash Creek Loan”) with UDF Ash Creek, LP (“UDF Ash Creek”), an affiliated Delaware limited partnership. UDF Ash Creek is a wholly owned subsidiary of UDF I. The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD also serves as the asset manager of UDF I. The Ash Creek Loan provides UDF Ash Creek with interim construction financing for the construction of 19 new townhomes in an existing townhome community in Dallas, Texas. The Ash Creek Loan is evidenced and secured by a promissory note, first lien deeds of trust on the townhomes financed under the Ash Creek Loan and various other loan documents. The interest rate under the Ash Creek Loan is the lower of 13% per annum, or the highest rate allowed by law. UDF Ash Creek is required to pay interest monthly and to repay a portion of the principal upon the sale of the townhomes covered by the deed of trust. The Ash Creek Loan matured and became due and payable in full on October 20, 2012. Effective October 20, 2012, we entered into a loan modification agreement with UDF Ash Creek, which extended the maturity date of the Ash Creek Loan to October 20, 2013. In determining whether to extend this loan, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors.
In connection with the Ash Creek Loan, UDF Ash Creek agreed to pay a $15,000 origination fee to us, which was funded at the closing of the Ash Creek Loan. For the three and six months ended June 30, 2012, approximately $2,000 and $5,000, respectively, is included in commitment fee income – related parties related to this fee. There are no amounts included in commitment fee income – related parties related to this fee for the three or six months ended June 30, 2013.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the Ash Creek Loan as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013 and December 31, 2012, approximately $2.2 million and $2.5 million, respectively, is included in notes receivable – related parties related to the Ash Creek Loan. For the three months ended June 30, 2013 and 2012, we recognized approximately $75,000 and $65,000, respectively, of interest income – related parties related to the Ash Creek Loan. For the six months ended June 30, 2013 and 2012, we recognized approximately $155,000 and $106,000, respectively, of interest income – related parties related to the Ash Creek Loan. Approximately $25,000 and $60,000 is included in accrued receivable – related parties as of June 30, 2013 and December 31, 2012, respectively, for interest associated with the Ash Creek Loan.
UMTHFII Loan
On October 26, 2011, we entered into a secured line of credit promissory note (the “UMTHFII Loan”) with UMT Home Finance II, LP (“UMTHFII”), an affiliated Delaware limited partnership. Our Advisor also serves as the advisor for UMT, which owns 100% of the interests in UMTHFII. The UMTHFII Loan provided UMTHFII with a $5.0 million line of credit to acquire or originate and fund construction loans and for business purposes approved by the Trust that are related to the acquisition or origination of construction loans. The UMTHFII Loan was subordinate to a senior loan entered into by UMTHFII and was secured by a pledge of the partnership interests in UMTHFII, a security interest against the assets of UMTHFII and a guaranty from UMT.
The interest rate under the UMTHFII Loan was the lower of 13% per annum, or the highest rate allowed by law. UMTHFII was required to repay the UMTHFII Loan as it received net proceeds from the disposition of assets underlying the construction loans and as it received net proceeds of interest associated with the construction loans. In addition, UMTHFII was required to repay the UMTHFII Loan as it received net proceeds from its private placement offering of up to $5.0 million in promissory notes. The UMTHFII Loan matured and became due and payable in full on October 26, 2012, at which point it terminated. We did not fund any advances or recognize any income associated with the UMTHFII Loan prior to its maturity.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the UMTHFII Loan as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As the UMTHFII Loan terminated in October 2012 and as we had not funded any advances prior to its termination, there were no amounts included in notes receivable – related parties associated with this loan as of June 30, 2013 or December 31, 2012. In addition, we did not recognize any interest income – related parties associated with this loan for either of the three or six months ended June 30, 2013 or 2012.
UDF TX Two Loan
On September 20, 2012, we entered into a loan purchase agreement with a third party to acquire a loan obligation (the “UDF TX Two Loan”) owing from UDF TX Two, L.P., an affiliated Texas limited partnership (“UDF TX Two”), for approximately $2.9 million. UDF I has a 50% partnership interest in UDF TX Two. Our asset manager, UMTH LD, also serves as the asset manager of UDF I. The general partner of our Advisor is also the general partner of UMTH LD. The UDF TX Two Loan provided UDF TX Two with financing to acquire 70 finished home lots in Lakeway, Texas. The UDF TX Two Loan is evidenced and secured by a promissory note, first lien deeds of trust on the finished lots financed under the UDF TX Two Loan and various other loan documents. The interest rate under the UDF TX Two Loan is the lower of 13% per annum, or the highest rate allowed by law.
Upon acquisition of the UDF TX Two Loan, we entered into an extension agreement with UDF TX Two pursuant to which we extended the maturity date of the UDF TX Two Loan to September 20, 2014. In determining whether to modify this loan, we evaluated the economic conditions, the estimated value and performance of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the UDF TX Two Loan as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013 and December 31, 2012, approximately $737,000 and $3.2 million, respectively, is included in notes receivable – related parties related to the UDF TX Two Loan. For the three and six months ended June 30, 2013, we recognized approximately $65,000 and $171,000, respectively, of interest income – related parties related to the UDF TX Two Loan. Approximately $12,000 and $81,000 is included in accrued receivable – related parties as of June 30, 2013 and December 31, 2012, respectively, for interest associated with the UDF TX Two Loan.
UDF PM Loan
Effective October 17, 2012, we entered into a $5.1 million loan agreement (the “UDF PM Loan”) with UDF PM, LLC (“UDF PM”), an affiliated Texas limited liability company. UDF PM is a wholly owned subsidiary of UDF I. The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD also serves as the asset manager of UDF I. The UDF PM Loan provides UDF PM with up to $4.8 million in financing for the development of an amenity center and related project amenities located in Lubbock County, Texas. The UDF PM Loan is evidenced and secured by a promissory note and the assignment of development reimbursements owing to UDF PM pursuant to (i) an economic development agreement and (ii) a public improvement district reimbursement contract, both of which were entered into between UDF PM and the city of Wolfforth, Texas. The interest rate under the UDF PM Loan is the lower of 13% per annum, or the highest rate allowed by law. The UDF PM Loan matures and becomes due and payable in full on October 17, 2015. The UDF PM Loan provides UDF PM with an interest reserve of approximately $300,000, pursuant to which we will fund UDF PM’s monthly interest payments and add the payments to the outstanding principal balance of the UDF PM Loan.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the UDF PM Loan as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013 and December 31, 2012, approximately $2.7 million and $892,000 is included in notes receivable – related parties related to the UDF PM Loan. For the three and six months ended June 30, 2013, we recognized approximately $65,000 and $100,000, respectively, of interest income – related parties related to the UDF PM Loan. Approximately $111,000 and $11,000 is included in accrued receivable – related parties as of June 30, 2013 and December 31, 2012, respectively, for interest associated with the UDF PM Loan.
HLL IS Loan
Effective November 29, 2012, we entered into a $6.4 million loan agreement (the “HLL IS Loan”) with HLL. HLL is a wholly owned subsidiary of UDF I. The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD also serves as the asset manager of UDF I. The HLL IS Loan provides HLL with up to $5.8 million in financing for the development of residential lots located in Bexar County, Texas. The HLL IS Loan was initially evidenced and secured by a first lien deed of trust recorded against approximately 24 acres in The Preserve at Indian Springs, a residential subdivision in the City of San Antonio, Bexar County, Texas, as well as a promissory note, assignments of certain lot sale contracts, and other loan documents. The interest rate under the HLL IS Loan is the lower of 13% per annum, or the highest rate allowed by law. The HLL IS Loan matures and becomes due and payable in full on November 29, 2015. The HLL IS Loan provides HLL with an interest reserve of approximately $600,000, pursuant to which we will fund HLL’s monthly interest payments and add the payments to the outstanding principal balance of the HLL IS Loan.
In connection with the HLL IS Loan, HLL agreed to pay a $64,000 origination fee to us, which was funded at the closing of the HLL IS Loan. For the three and six months ended June 30, 2013, approximately $5,000 and $11,000, respectively, is included in commitment fee income – related parties related to this fee.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the UDF PM Loan as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013 and December 31, 2012, approximately $3.7 million and $3.1 million is included in notes receivable – related parties related to the HLL IS Loan. For the three and six months ended June 30, 2013, we recognized approximately $117,000 and $220,000, respectively, of interest income – related parties related to the HLL IS Loan. Approximately $255,000 and $35,000 is included in accrued receivable – related parties as of June 30, 2013 and December 31, 2012, respectively, for interest associated with the HLL IS Loan.
One KR Loan
Effective December 14, 2012, we entered into a $15.3 million loan agreement (the “One KR Loan”) with One KR Venture, L.P., an affiliated Texas limited partnership (“One KR”). One KR is a wholly owned subsidiary of UDF I. The general partner of our Advisor is also the general partner of UMTH LD, our asset manager. UMTH LD also serves as the asset manager of UDF I. The One KR Loan provides One KR with up to $12.1 million to refinance existing third party debt and develop real property located in Bexar County, Texas. The One KR Loan was initially evidenced and secured by a first lien deed of trust recorded against approximately 31 acres of real property located in Bexar County, Texas, as well as a promissory note, assignments of certain lot sale contracts, a pledge of partnership interests in the borrower and other loan documents. The interest rate under the One KR Loan is the lower of 13% per annum, or the highest rate allowed by law. The One KR Loan matures and becomes due and payable in full on June 14, 2016. The One KR Loan provides One KR with an interest reserve of approximately $3.2 million, pursuant to which we will fund One KR’s monthly interest payments and add the payments to the outstanding principal balance of the One KR Loan.
In connection with the One KR Loan, One KR agreed to pay a $153,000 origination fee to us, which was funded at the closing of the One KR Loan. For the three and six months ended June 30, 2013, approximately $13,000 and $25,000, respectively, is included in commitment fee income – related parties related to this fee.
A majority of our trustees, including a majority of our independent trustees, who are not otherwise interested in this transaction, approved the UDF PM Loan as being fair and reasonable to us and on terms and conditions not less favorable to us than those available from unaffiliated third parties.
As of June 30, 2013 and December 31, 2012, approximately $7.2 million and $6.0 million, respectively, is included in notes receivable – related parties related to the One KR Loan. For the three and six months ended June 30, 2013, we recognized approximately $225,000 and $444,000, respectively, of interest income – related parties related to the One KR Loan. Approximately $280,000 and $13,000 is included in accrued receivable – related parties as of June 30, 2013 and December 31, 2012, respectively, for interest associated with the One KR Loan.

Concentration_of_Credit_Risk

Concentration of Credit Risk	6 Months Ended
	Jun. 30, 2013
Risks and Uncertainties [Abstract]	'
Concentration Risk Disclosure [Text Block]	'
	P. Concentration of Credit Risk
	Financial instruments that potentially expose us to concentrations of credit risk are primarily temporary cash equivalent and loan participation interest – related parties. We maintain deposits in financial institutions that may at times exceed amounts covered by insurance provided by the U.S. Federal Deposit Insurance Corporation (“FDIC”). We have not experienced any losses related to amounts in excess of FDIC limits.
	As of June 30, 2013, our real estate investments were secured by property located in Texas and Colorado.
	We may invest in multiple secured loans that share a common borrower. The bankruptcy, insolvency or other inability of any borrower that is the subject of multiple loans to pay interest or repay principal on its loans would have adverse consequences on our income and reduce the amount of funds available for distribution to investors. The more concentrated our portfolio is with one or a few borrowers, the greater credit risk we face. The loss of any one of these borrowers would have a material adverse effect on our financial condition and results of operations.
	As of June 30, 2013, we did not have any loans to borrowers that, individually, accounted for over 10% of the outstanding balance of our portfolio. As of June 30, 2013, our largest group of related borrowers comprised approximately 64% of the outstanding balance of our portfolio.

Subsequent_Events

Subsequent Events	6 Months Ended
	Jun. 30, 2013
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	Q. Subsequent Events
	On July 6, 2013, the Trust formed UDF IV Finance VI, L.P. (“UDF IV Fin VI”), a Delaware limited partnership, and UDF IV Finance VI Manager, LLC (“UDF IV FVIM”), a Delaware limited liability company, the general partner of UDF IV Fin VI. The Trust owns a 100% limited partnership interest in UDF IV Fin VI and the Trust is the sole member of UDF IV FVIM.
	On July 22, 2013, the Trust formed UDF IV Finance VII, L.P. (“UDF IV Fin VII”), a Delaware limited partnership, and UDF IV Finance VII Manager, LLC (“UDF IV FVIIM”), a Delaware limited liability company, the general partner of UDF IV Fin VII. The Trust owns a 100% limited partnership interest in UDF IV Fin VII and the Trust is the sole member of UDF IV FVIIM.
	On July 23, 2013, UDF IV Fin V obtained a revolving credit facility from Affiliated Bank (“Affiliated Bank”) in the maximum principal amount of $5.5 million pursuant to a loan agreement (the “Affiliated Bank Loan”). The interest rate under the Affiliated Bank Loan is equal to the greater of prime plus 1% or 5% per annum. Accrued interest on the outstanding principal amount of the Affiliated Bank Loan is payable monthly. The Affiliated Bank Loan matures and becomes due and payable in full on July 23, 2015. The Affiliated Bank Loan is secured by a first priority collateral assignment and lien on certain mortgage notes and loans held by UDF IV Fin V and is guaranteed by us. UDF IV Fin V agreed to pay an origination fee of $55,000 to Affiliated Bank and Debt Financing Fees of $55,000 to UMTH GS in connection with the Affiliated Bank Loan.
	On August 5, 2013, UDF IV Fin VII obtained a revolving credit facility from Legacy in the maximum principal amount of $10 million pursuant to a loan agreement (the “UDF IV Fin VII Legacy LOC”). The interest rate under the UDF IV Fin VII Legacy LOC is equal to the greater of prime plus 1% or 5% per annum. Accrued interest on the outstanding principal amount of the UDF IV Fin VII Legacy LOC is payable monthly. The UDF IV Fin VII Legacy LOC matures and becomes due and payable in full on August 5, 2015. The UDF IV Fin VII Legacy LOC is guaranteed by us and secured by a first priority collateral assignment and lien on certain mortgage notes and loans held by UDF IV Fin VII. The UDF IV Fin VII Legacy LOC  required cash deposits equal to 35% of the outstanding balance of the loan. UDF IV Fin VII agreed to pay an origination fee of $100,000 to Legacy and Debt Financing Fees of $100,000 to UMTH GS in connection with the UDF IV Fin VII Legacy LOC.
	Effective July 22, 2013, we entered into a guaranty agreement (the “URHF Guaranty”) pursuant to which we guaranteed all amounts due associated with a $15 million revolving credit facility (the “URHF Southwest Loan”) entered into between United Residential Home Finance, L.P. (“URHF”), an affiliated Delaware limited partnership, and Southwest Bank (“Southwest”). Our Advisor also serves as the advisor for UMT, which owns 100% of the interests in URHF. Pursuant to the URHF Southwest Loan, Southwest will provide URHF with up to $15 million to finance the origination or acquisition of finished lot loans. In consideration of us entering into the URHF Guaranty, we entered into a letter agreement with URHF which provides for URHF to pay us a monthly credit enhancement fee equal to 1/12th of 1% of the outstanding principal balance on the URHF Southwest Loan at the end of each month.
	Effective July 31, 2013, UDF IV HF entered into the First Amended and Restated Loan Agreement with CTB pursuant to which the UDF IV HF CTB LOC was increased to $10 million, the interest rate floor was decreased to 4.25% and the maturity date was extended from February 19, 2014 to July 30, 2015. In connection with the First Amended and Restated Loan Agreement, UDF IV HF agreed to pay an additional origination fee of $30,000 to CTB.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2013
Accounting Policies [Abstract]	'
Basis of Accounting, Policy [Policy Text Block]	'
	Basis of Presentation
	The accompanying unaudited consolidated financial statements were prepared in accordance with GAAP for interim financial information, with the instructions to Form 10-Q and with Regulation S-X. They do not include all information and footnotes required by GAAP for complete financial statements. However, except as disclosed herein, there has been no material change to the information disclosed in our 2012 Annual Report on Form 10-K for the year ended December 31, 2012, which was filed with the Securities and Exchange Commission on April 1, 2013 (the “Annual Report”), and which was subsequently restated within the 2013 Form 10-K. The accompanying interim unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements filed in our Annual Report and our 2013 Form 10-K. In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments, consisting of normal recurring adjustments and adjustments associated with the Restatement, considered necessary to present fairly our financial position as of June 30, 2013 and December 31, 2012, operating results for the three and six months ended June 30, 2013 and 2012, and cash flows for the six months ended June 30, 2013 and 2012. Operating results and cash flows for the six months ended June 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013.
Consolidation, Policy [Policy Text Block]	'
	Principles of Consolidation
	The consolidated financial statements include the accounts of the Trust and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated.
Loan Participation Interest Related Parties [Policy Text Block]	'
	Loan Participation Interest – Related Parties
	Loan participation interest – related parties are recorded at the lower of cost or net realizable value. Loan participation interest – related parties represents the purchase of a financial interest in certain interim construction loan, paper lot (residential lots shown on a plat that has been accepted by the city or county, but which is currently undeveloped or under development) loan and finished lot loan facilities originated by our affiliates. We participate in these loans by funding the lending obligations of our affiliates under these credit facilities up to a maximum amount for each participation. Such participations entitle us to receive payments of principal and interest from the borrower up to the amounts funded by us and interest on the funded amounts from the borrower. The participation interests in interim construction loan facilities are collateralized by first lien deeds of trust on the homes financed under the construction loans. The participation interests in paper lot loan and finished lot loan facilities are collateralized by one or more of the following: first or second lien deeds of trust, a pledge of ownership interests in the borrower, assignments of lot sale contracts, or reimbursements of development costs due to the borrower under contracts with districts and cities. None of such loans are insured or guaranteed by a federally owned or guaranteed mortgage agency. As of June 30, 2013, the participations have terms ranging from 7 to 12 months and bear interest at rates ranging from 11.5% to 15%. The participation interests may be paid off prior to maturity; however, we intend to hold all participation interests for the life of the loans.
Notes Receivable [Policy Text Block]	'
	Notes Receivable and Notes Receivable – Related Parties
	Notes receivable and notes receivable – related parties are recorded at the lower of cost or net realizable value. The notes are collateralized by one or more of the following: first or second lien deeds of trust, a pledge of ownership interests in the borrower, assignments of lot sale contracts, or reimbursements of development costs due to the borrower under contracts with districts and cities. None of such notes are insured or guaranteed by a federally owned or guaranteed mortgage agency. As of June 30, 2013, the notes have terms ranging from 2 to 48 months and bear interest at rates ranging from 11% to 15%. The notes may be paid off prior to maturity; however, we intend to hold all notes for the life of the notes.
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	'
	Allowance for Loan Losses
	The allowance for loan losses is our estimate of incurred losses in our portfolio of notes receivable, notes receivable – related parties and loan participation interest – related parties. We periodically perform a detailed review of our portfolio of notes and other loans to determine if impairment has occurred and to assess the adequacy of the allowance for loan losses. Our review consists of evaluating economic conditions, the estimated value of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral, and other relevant factors. This review is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available.
	In reviewing our portfolio, we use cash flow estimates from the disposition of finished lots, paper lots and undeveloped land as well as cash flow received from the issuance of bonds from municipal reimbursement districts. These estimates are based on current market metrics, including, without limitation, the supply of finished lots, paper lots and undeveloped land, the supply of homes and the rate and price at which land and homes are sold, historic levels and trends, executed contracts, appraisals and discussions with third party market analysts and participants, including homebuilders. We have based our valuations on current and historic market trends on our analysis of market events and conditions, including activity within our portfolio, as well as those of third-party services such as Metrostudy and Residential Strategies, Inc. Cash flow forecasts also have been based on executed purchase contracts which provide base prices, escalation rates, and absorption rates on an individual project basis. For projects deemed to have an extended time horizon for disposition, we have considered third-party appraisals to provide a valuation in accordance with guidelines set forth in the Uniform Standards of Professional Appraisal Practice. In addition to cash flows from the disposition of property, cost analysis has been performed based on estimates of development and senior financing expenditures provided by developers and independent professionals on a project-by-project basis. These amounts have been reconciled with our best estimates to establish the net realizable value of the portfolio.
	We charge additions to the allowance for loan losses to current period earnings through a provision for loan losses. Amounts determined to be uncollectible are charged directly against, or “charged off,” and decrease the allowance for loan losses, while amounts recovered on previously charged off accounts increase the allowance.
Organization and Offering Expenses [Policy Text Block]	'
	Organization and Offering Expenses
	Organization costs will be expensed as incurred in accordance with Statement of Position 98-5, Reporting on the Costs of Start-up Activities, currently within the scope of FASB ASC 720-15. Offering costs related to raising capital from debt will be capitalized and amortized over the term of such debt. Offering costs related to raising capital from equity reduce equity and are reflected as shares issuance costs in shareholders’ equity. Certain offering costs were paid by our Advisor. As discussed in Note H, these costs are reimbursed to our Advisor by the Trust.
Investor Subscriptions Receivable [Policy Text Block]	'
	Investor Subscriptions Receivable
	Investor subscriptions receivable represents amounts receivable from our transfer agent related to investments they have admitted in connection with our initial public offering. See Note D – Registration Statement for further discussion of our offering. Prior to the termination of our initial public offering, our transfer agent processed investor admissions on a daily basis and sent the proceeds of each admission to us the subsequent day. The investor subscriptions receivable represents our receivable related to the previous day’s investor admissions.
Revenue Recognition, Policy [Policy Text Block]	'
	Interest Income and Non-Interest Income Recognition
	Interest income on loan participation interest – related parties, notes receivable and notes receivable – related parties is recognized over the life of the participation agreement or note agreement and recorded on the accrual basis. A loan is placed on non-accrual status and income recognition is suspended at the date at which, in the opinion of management, a full recovery of income and principal becomes more likely than not, but is no longer probable, based upon our review of economic conditions, the estimated value of the underlying collateral, the guarantor, adverse situations that may affect the borrower’s ability to pay or the value of the collateral and other relevant factors. Income recognition is resumed when the loan becomes contractually current and performance is demonstrated to be resumed. Any payments received on loans classified as non-accrual status are typically applied first to outstanding loan amounts and then to the recovery of lost interest. As of June 30, 2013 and December 31, 2012, we were accruing interest on all loan participation interest – related parties, notes receivable and notes receivable – related parties.
	Commitment fee income and commitment fee income – related parties represents non-refundable fees charged to borrowers for entering into an obligation that commits us to make or acquire a loan or to satisfy a financial obligation of the borrower when certain conditions are met within a specified time period. When a commitment is considered an integral part of the resulting loan and we believe there is a reasonable expectation that the commitment will be called upon, the commitment fee is recognized as revenue over the life of the resulting loan. As of June 30, 2013 and December 31, 2012, approximately $1.2 million and $970,000, respectively, of unamortized commitment fees are included as an offset of notes receivable. Approximately $212,000 and $263,000 of unamortized commitment fees are included as an offset of notes receivable – related parties as of June 30, 2013 and December 31, 2012, respectively. When we believe it is unlikely that the commitment will be called upon or that the fee is not an integral part of the return of a specific future lending arrangement, the commitment fee is recognized as income when it is earned, based on the specific terms of the commitment. We make a determination of revenue recognition on a case by case basis, due to the unique and varying terms of each commitment.
Acquisition and Origination Fees [Policy Text Block]	'
	Acquisition and Origination Fees
	We incur Acquisition and Origination Fees, payable to UMTH LD, our asset manager, equal to 3% of the net amount available for investment in secured loans and other real estate assets; provided, however, that we will not incur Acquisition and Origination Fees with respect to any asset level indebtedness we incur. The Acquisition and Origination Fees that we incur will be reduced by the amount of any acquisition and origination fees and expenses paid by borrowers or investment entities to our Advisor or affiliates of our Advisor with respect to our investment. We will not incur any Acquisition and Origination Fees with respect to any participation agreement we enter into with our affiliates or any affiliates of our Advisor for which our Advisor or affiliates of our Advisor have previously received acquisition and origination fees and expenses from such affiliate with respect to the same secured loan or other real estate asset. Acquisition and Origination Fees are expensed as incurred. See Note C for further discussion of the Restatement associated with Acquisition and Origination Fees.
Income Tax, Policy [Policy Text Block]	'
	Income Taxes
	We made an election under Section 856(c) of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), to be taxed as a real estate investment trust (“REIT”), beginning with the taxable year ended December 31, 2010. As a REIT, we generally are not subject to federal income tax on income that we distribute to our shareholders. If we later fail to qualify as a REIT in any taxable year, we will be subject to federal income tax on our taxable income at regular corporate rates and may not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year in which our qualification is denied unless we are entitled to relief under certain statutory provisions. Such an event could materially and adversely affect our net income. However, we intend to continue to operate so as to remain qualified as a REIT for federal income tax purposes.
	FASB ASC 740 prescribes a comprehensive model for the financial statement recognition, measurement, presentation and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. In accordance with FASB ASC 740, we must determine whether it is more likely than not that a tax position will be sustained upon examination based on the technical merits of the position. We believe we have no such uncertain positions.
	We file income tax returns in the United States federal jurisdiction. At June 30, 2013, tax returns related to fiscal years ended December 31, 2009 through December 31, 2012 remain open to possible examination by the tax authorities. No tax returns are currently under examination by any tax authorities. We did not incur any penalties or interest during the six months ended June 30, 2013 or 2012.
Fair Value of Financial Instruments, Policy [Policy Text Block]	'
	Fair Value of Financial Instruments
	In accordance with the reporting requirements of FASB ASC 825-10, Financial Instruments-Fair Value, we calculate the fair value of our assets and liabilities which qualify as financial instruments under this statement and include this additional information in the notes to the consolidated financial statements when the fair value is different than the carrying value of those financial instruments. The estimated fair value of restricted cash, accrued interest receivable, accrued receivable – related parties, accounts payable, accrued liabilities and accrued liabilities – related parties approximates the carrying amounts due to the relatively short maturity of these instruments. The estimated fair value of notes receivable, notes receivable – related parties, loan participation interest – related parties, lines of credit and notes payable approximate the carrying amount since they bear interest at the market rate.
Guarantees, Indemnifications and Warranties Policies [Policy Text Block]	'
	Guarantees
	From time to time, we enter into guarantees of debtor’s or affiliates’ borrowings and provide credit enhancements for the benefit of senior lenders in connection with our debtors and investments in partnerships (collectively referred to as “guarantees”), and account for such guarantees in accordance with FASB ASC 460-10 Guarantees.
Reclassification, Policy [Policy Text Block]	'
	Reclassifications
	Certain reclassifications have been made to prior period amounts in order to conform with the current year presentation.

Restatement_Tables

Restatement (Tables)	6 Months Ended
	Jun. 30, 2013
Restatement [Abstract]	'
Schedule Of Restated Balance Sheet [Table Text Block]	'
	The following tables present the effects of the Restatement described above on the affected line items within the Trust’s previously reported consolidated balance sheets as of June 30, 2013 and December 31, 2012.
		As of June 30, 2013
		As Previously
		Reported		Adjustment		As Restated
	Assets
	Loan participation interest - related parties, net	$	27,331,908	$	-560,323	$	26,771,585
	Notes receivable, net	$	326,121,997	$	-8,795,761	$	317,326,236
	Notes receivable - related parties, net	$	29,263,370	$	-1,485,921	$	27,777,449
	Total assets	$	557,848,733	$	-10,842,005	$	547,006,728
	Liabilities and Shareholders' Equity
	Accumulated deficit	$	-6,912,617	$	-10,842,005	$	-17,754,622
	Total liabilities and shareholders' equity	$	557,848,733	$	-10,842,005	$	547,006,728
		As of December 31, 2012
		As Previously
		Reported		Adjustment		As Restated
	Assets
	Loan participation interest - related parties, net	$	29,743,602	$	-350,286	$	29,393,316
	Notes receivable, net	$	246,450,255	$	-6,477,654	$	239,972,601
	Notes receivable - related parties, net	$	29,350,382	$	-1,564,167	$	27,786,215
	Total assets	$	344,871,174	$	-8,392,107	$	336,479,067
	Liabilities and Shareholders' Equity
	Accumulated deficit	$	-3,062,972	$	-8,392,107	$	-11,455,079
	Total liabilities and shareholders' equity	$	344,871,174	$	-8,392,107	$	336,479,067
Schedule Of Restated Operations Statements [Table Text Block]	'
	The following tables present the effects of the Restatement described above on the affected line items within the Trust’s previously reported consolidated statements of operations for the three and six months ended June 30, 2013 and 2012.
		Three Months Ended June 30, 2013						Six Months Ended June 30, 2013
		As Previously						As Previously
		Reported		Adjustment		As Restated		Reported		Adjustment		As Restated
	General and administrative - related parties	$	539,871	$	1,992,814	$	2,532,685	$	1,002,801	$	2,449,898	$	3,452,699
	Total noninterest expense	$	2,780,285	$	1,992,814	$	4,773,099	$	5,146,610	$	2,449,898	$	7,596,508
	Net income	$	8,127,509	$	-1,992,814	$	6,134,695	$	15,425,965	$	-2,449,898	$	12,976,067
	Net income per weighted average share outstanding	$	0.31	$	-0.08	$	0.23	$	0.68	$	-0.11	$	0.57
		Three Months Ended June 30, 2012						Six Months Ended June 30, 2012
		As Previously						As Previously
		Reported		Adjustment		As Restated		Reported		Adjustment		As Restated
	General and administrative - related parties	$	287,016	$	851,136	$	1,138,152	$	548,377	$	1,054,879	$	1,603,256
	Total noninterest expense	$	1,480,190	$	851,136	$	2,331,326	$	2,691,482	$	1,054,879	$	3,746,361
	Net income	$	3,932,899	$	-851,136	$	3,081,763	$	7,253,712	$	-1,054,879	$	6,198,833
	Net income per weighted average share outstanding	$	0.38	$	-0.08	$	0.3	$	0.79	$	-0.11	$	0.68
Schedule Of Restated Cash Flow Statements [Table Text Block]	'
	The following tables present the effects of the Restatement described above on the affected line items within the Trust’s previously reported consolidated statements of cash flows for the six months ended June 30, 2013 and 2012.
		Six Months Ended June 30, 2013
		As Previously
		Reported		Adjustment		As Restated
	Operating Activities
	Net income	$	15,425,965	$	-2,449,898	$	12,976,067
	Net cash provided by operating activities	$	7,893,089	$	-2,449,898	$	5,443,191
	Investing Activities
	Investments in loan participation interests - related party	$	-7,178,728	$	210,037	$	-6,968,691
	Investments in notes receivable	$	-118,480,609	$	2,318,107	$	-116,162,502
	Investments in notes receivable - related party	$	-7,894,118	$	-78,246	$	-7,972,364
	Net cash used in investing activities	$	-78,053,797	$	2,449,898	$	-75,603,899
	Net increase in cash and cash equivalents	$	132,644,369	$	-	$	132,644,369
		Six Months Ended June 30, 2012
		As Previously
		Reported		Adjustment		As Restated
	Operating Activities
	Net income	$	7,253,712	$	-1,054,879	$	6,198,833
	Net cash provided by operating activities	$	3,061,341	$	-1,054,879	$	2,006,462
	Investing Activities
	Investments in loan participation interests - related party	$	-3,786,047	$	-8,849	$	-3,794,896
	Investments in notes receivable	$	-68,032,325	$	1,113,544	$	-66,918,781
	Investments in notes receivable - related party	$	-5,394,399	$	-49,816	$	-5,444,215
	Net cash used in investing activities	$	-55,323,844	$	1,054,879	$	-54,268,965
	Net increase in cash and cash equivalents	$	9,267,612	$	-	$	9,267,612

Loans_and_Allowance_for_Credit1

Loans and Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2013
Receivables [Abstract]	'
Schedule Of Notes and Loans Receivable [Table Text Block]	'
	All information in this footnote has been revised to reflect the effects of the Restatement described in Note C above.
	Our aggregate loan portfolio is comprised of loan participation interest – related parties, notes receivable, net and notes receivable – related parties and is recorded at the lower of cost or estimated net realizable value.
			June 30, 2013		December 31, 2012
	Loan participation interest – related parties		$	26,772,000	$	29,393,000
	Notes receivable, net			317,326,000		239,973,000
	Notes receivable – related parties			27,777,000		27,786,000
	Total		$	371,875,000	$	297,152,000
Schedule Of Classification Of Loan Receivable [Table Text Block]	'
	Our loans are classified as follows:
			June 30, 2013		December 31, 2012
	Real Estate:
	Construction, acquisition and land development		$	375,963,000	$	300,151,000
	Allowance for loan losses			-2,647,000		-1,766,000
	Unamortized commitment fees			-1,441,000		-1,233,000
	Total		$	371,875,000	$	297,152,000
Schedule Of Maturity Date Of Outstanding Loan Receivable [Table Text Block]	'
	The following table represents the scheduled maturity dates of the 89 loans outstanding as of June 30, 2013:
			Related Party							Non-related party								Total
	Maturity		Amount		Loans		% of			Amount		Loans		% of				Amount			Loans			% of
	Date						Total							Total										Total
	Matured		$	-		-		-		$	-		-		-			$	-			-			-
	2013			7,387,000		7		13	%		77,473,000		13		24	%			84,860,000			20			23	%
	2014			22,979,000		5		42	%		151,156,000		20		47	%			174,135,000			25			46	%
	2015			17,245,000		4		32	%		70,109,000		20		22	%			87,354,000			24			23	%
	2016			7,150,000		1		13	%		18,657,000		16		6	%			25,807,000			17			7	%
	2017			-		-		-			3,807,000		3		1	%			3,807,000			3			1	%
	Total		$	54,761,000		17		100	%	$	321,202,000		72		100	%		$	375,963,000			89			100	%
	The following table represents the scheduled maturity dates of the 68 loans outstanding as of December 31, 2012:
			Related Party							Non-related party								Total
	Maturity		Amount		Loans		% of			Amount		Loans		% of				Amount			Loans			% of
	Date						Total							Total										Total
	Matured		$	-		-		-		$	160,000		1		*			$	160,000			1			*
	2013			34,414,000		12		60	%		71,803,000		17		30	%			106,217,000			29			35	%
	2014			4,000,000		2		7	%		118,222,000		14		49	%			122,222,000			16			41	%
	2015			13,020,000		3		23	%		52,523,000		18		21	%			65,543,000			21			22	%
	2016			6,009,000		1		10	%		-		-		-				6,009,000			1			2	%
	Total		$	57,443,000		18		100	%	$	242,708,000		50		100	%		$	300,151,000			68			100	%
	* Less than 1%
Schedule Of Maturity Of Non Related Party Loan Receivable [Table Text Block]	'
	The following table describes the loans that were matured as of December 31, 2012, the activity with respect to such loans during the six months ended June 30, 2013 and the loans that matured during the six months ended June 30, 2013 and remained matured as of June 30, 2013:
	Maturity		Amount		Loans		% of			Matured Loan		Net Activity		Loans			Amount			Loans			% of
	Date						Total			Extensions		During the		Matured									Total
										During the Six		Six Months		During the
										Months Ended		Ended June		Six Months
										June 30, 2013		30, 2013 on		Ended June
										on Loans		Loans		30, 2013 (3)
										Matured as of		Matured as of
										December 31,		December 31,
										2012 (1)		2012 (2)
			Non-Related
			Matured as of December 31, 2012							2013 Activity (4)							Matured as of June 30, 2013
	2012		$	160,000		1		100	%	$	-	$	-160,000	$	-		$	-			-			-
	Total		$	160,000		1		100	%	$	-	$	-160,000	$	-		$	-			-			-
		-1	Amounts represent aggregate unpaid principal balance as of December 31, 2012 of matured loans as of December 31, 2012 that were extended but not paid in full during the six months ended June 30, 2013.
		-2	For loans matured as of December 31, 2012, net loan activity represents all activity on the loans during the six months ended June 30, 2013, including accrued interest, payment of fees and expenses, charge-offs and/or repayments.
		-3	Amounts represent aggregate unpaid principal balance as of December 31, 2012 of loans that matured during the six months ended June 30, 2013 and remained matured as of June 30, 2013.
		-4	The table does not reflect activity for loans that matured or were due to mature during the six months ended June 30, 2013, but were extended on or prior to June 30, 2013.
Schedule Of Credit Quality Of Assets [Table Text Block]	'
	As of the dates indicated, our loans were classified as follows:
			June 30, 2013		December 31, 2012
	Level 1		$	375,963,000	$	300,151,000
	Level 2			-		-
	Level 3			-		-
	Total		$	375,963,000	$	300,151,000
Schedule Of Allowance For Loan Receivable [Table Text Block]	'
	The following table summarizes the change in the reserve for loan losses during the six months ended June 30, 2013 and the year ended December 31, 2012, which is offset against notes receivable:
			For the Six Months		For the Year Ended
			Ended June 30, 2013		December 31, 2012
	Balance, beginning of year		$	1,766,000	$	675,000
	Provision for loan losses			881,000		1,091,000
	Charge-offs			-		-
	Balance, end of period		$	2,647,000	$	1,766,000

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2013
Stockholders Equity Note [Abstract]	'
Schedule Of Special Distributions Made [Table Text Block]	'
	In addition to the distributions discussed above, the following table represents all special distributions authorized by our board of trustees through June 30, 2013:
	Authorization Date (1)		Record Date (2)		Rate (3)			Pay Date (4)
	8-Sep-10		15-Sep-10		$	0.05		15-Oct-10
	8-Sep-10		15-Dec-10		$	0.15		1-Feb-11
	10-Mar-11		30-Apr-11		$	0.1		17-May-11
	27-Jun-11		31-Aug-11		$	0.05		13-Sep-11
	1-Mar-12		30-Apr-12		$	0.05		18-May-12
	15-Aug-12		1-Oct-12		$	0.05		19-Oct-12
	10-Oct-12		14-Dec-12		$	0.05		15-Feb-13
	6-Mar-13		15-Apr-13		$	0.05		17-May-13
		-1	Represents the date the distribution was authorized by our board of trustees.
		-2	All outstanding common shares of beneficial interest as of the record date receive the distribution.
		-3	Represents the distribution rate per common share of beneficial interest on the record date.
		-4	Represents the date the special distribution was paid or will be paid in cash and DRIP or Secondary DRIP shares.
Schedule of Distributions Made to Members or Limited Partners, by Distribution [Table Text Block]	'
	As of June 30, 2013, we have made the following distributions to our shareholders in 2013:
	Period Ended		Date Paid		Distribution
					Amount
	31-Dec-12		16-Jan-13		$	2,385,000
	14-Dec-12		15-Feb-13			856,000
	31-Jan-13		22-Feb-13			2,494,000
	28-Feb-13		22-Mar-13			2,353,000
	31-Mar-13		23-Apr-13			2,772,000
	15-Apr-13		17-May-13			1,094,000
	30-Apr-13		23-May-13			2,964,000
	31-May-13		21-Jun-13			3,800,000
					$	18,718,000
Schedule Of Sources Of Distributions to Equity Holders [Table Text Block]	'
	The distributions paid for the six months ended June 30, 2013 and 2012, along with the amount of distributions reinvested pursuant to our DRIP and the sources of our distributions are reflected in the table below. In connection with the Restatement, cash payments to UMTH LD associated with Acquisition and Origination Fees were reclassified from investing activities to operating activities, thus reducing operating cash available for distributions. The impact of the Restatement on the tables below is more specifically described in Note C above. The sources of distributions in the table below have been adjusted to reflect the impact of the Restatement.
			Six months ended June 30,
			2013						2012
	Distributions paid in cash		$	12,056,000					$	4,709,000
	Distributions reinvested			6,662,000						2,788,000
	Total distributions		$	18,718,000					$	7,497,000
	Source of distributions:
	Cash from operations		$	5,443,000		29	%		$	2,006,000	27	%
	Borrowings under credit facilities			-		-				5,491,000	73	%
	Proceeds from offering			13,275,000		71	%			-	-
	Total sources		$	18,718,000		100	%		$	7,497,000	100	%

Share_Redemption_Program_Table

Share Redemption Program (Tables)	6 Months Ended
	Jun. 30, 2013
Unit Redemption Program [Abstract]	'
Schedule Of Redemption Activity Of Shares [Table Text Block]	'
	The following table summarizes the redemption activity for the six months ended June 30, 2013 and the year ended December 31, 2012. The amounts presented are in total shares:
		June 30, 2013		December 31, 2012
	Balance, beginning of year		-		-
	Redemption requests received		53,200		96,016
	Shares redeemed		-53,200		-96,016
	Balance, end of period		-		-

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2013
Related Party Transactions [Abstract]	'
Schedule Of Amortization Of Financing Costs [Table Text Block]	'
	The following table represents the approximate amortization expense recognized for the periods indicated in connection with Debt Financing Fees paid to our Advisor associated with our credit facility and lines of credit:
		For the Three Months Ended June 30,						For the Six Months Ended June 30,
	Facility	2013			2012			2013			2012
	UDF IV HF CTB LOC	$	10,000		$	7,000		$	18,000		$	12,000
	Credit Facility		3,000			5,000			6,000			11,000
	F&M Loan		5,000			16,000			11,000			32,000
	CTB Revolver		67,000			9,000			81,000			18,000
	UTB Revolver		3,000			3,000			5,000			7,000
	Legacy Revolver		-			13,000			4,000			25,000
	Veritex Revolver		5,000			-			9,000			-
	Total	$	93,000		$	53,000		$	134,000		$	105,000
Schedule Of Related Party Payments [Table Text Block]	'
	The chart below summarizes the approximate payments to related parties for the six months ended June 30, 2013 and the year ended December 31, 2012:
	Payee	Purpose		For the Six Months						For the Year Ended
				Ended						December 31, 2012
				June 30, 2013
	UMTH GS
		O&O Reimbursement		$	8,137,000		43	%		$	5,878,000		38	%
		Advisory Fees			3,333,000		18	%			3,924,000		26	%
		Debt Financing Fees			210,000		1	%			148,000		1	%
	UMTH LD
		Acquisition and Origination Fees			7,125,000		37	%			5,155,000		34	%
	UDF III
		Credit Enhancement Fees			128,000		1	%			115,000		1	%
	Total Payments			$	18,933,000		100	%		$	15,220,000		100	%
Schedule Of Related Party Expenses [Table Text Block]	'
	The chart below summarizes the approximate expenses associated with related parties for the three months ended June 30, 2013 and 2012:
		For the Three Months Ended June 30,
	Purpose	2013						2012
	Advisory Fees	$	1,835,000		100	%		$	911,000		100	%
	Total Advisory fee – related party	$	1,835,000		100	%		$	911,000		100	%
	Amortization of Debt Financing Fees	$	93,000		4	%		$	53,000		5	%
	Acquisition and Origination Fees		2,397,000		95	%			1,041,000		91	%
	Credit Enhancement Fees		43,000		1	%			44,000		4	%
	Total General and administrative – related parties	$	2,533,000		100	%		$	1,138,000		100	%
	he chart below summarizes the approximate expenses associated with related parties for the six months ended June 30, 2013 and 2012:
		For the Six Months Ended June 30,
	Purpose	2013						2012
	Advisory Fees	$	3,476,000		100	%		$	1,687,000		100	%
	Total Advisory fee – related party	$	3,476,000		100	%		$	1,687,000		100	%
	Amortization of Debt Financing Fees	$	134,000		4	%		$	105,000		7	%
	Acquisition and Origination Fees		3,226,000		93	%			1,410,000		88	%
	Credit Enhancement Fees		93,000		3	%			88,000		5	%
	Total General and administrative – related parties	$	3,453,000		100	%		$	1,603,000		100	%

Nature_of_Business_Details_Tex

Nature of Business (Details Textual)	6 Months Ended
	Jun. 30, 2013
UDF IV OP [Member]	'
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	100.00%
UMTH LD [Member]	'
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	0.00%
UDF IV HF [Member]	'
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	100.00%
UDF IV FI [Member]	'
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	100.00%
UDF IV FII [Member]	'
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	100.00%
UDF IV AC [Member]	'
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	100.00%
UDF IV FIII [Member]	'
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	100.00%
UDF IV Fin IV [Member]	'
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	100.00%
UDF IV Fin V [Member]	'
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	100.00%

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details Textual) (USD $)	6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Loan Participation Interests, Terms and Manner of Settlement	'the participations have terms ranging from 7 to 12 months and bear interest at rates ranging from 11.5% to 15%.	'
Notes Receivable (Including Related Party), Terms and Manner of Settlement	'the notes have terms ranging from 2 to 48 months and bear interest at rates ranging from 11% to 15%.	'
Unamortized Commitment Fees Included In Notes Receivable	$1,200,000	$970,000
Unamortized Commitment Fees Included In Notes Receivable Related Party	$212,000	$263,000
Acquisition and Origination Fee Payable, Percentage	3.00%	'
Minimum [Member]	'	'
Loan Participation Interest, Rate	11.50%	'
Notes Receivable Interest, Rate	11.00%	'
Maximum [Member]	'	'
Loan Participation Interest, Rate	15.00%	'
Notes Receivable Interest, Rate	15.00%	'

Restatement_Details

Restatement (Details) (USD $)	Jun. 30, 2013	Dec. 31, 2012
Assets	'	'
Loan participation interest - related parties, net	$26,771,585	$29,393,316
Notes receivable, net	317,326,236	239,972,601
Notes receivable - related parties, net	27,777,449	27,786,215
Total assets	547,006,728	336,479,067
Liabilities and Shareholdersb Equity	'	'
Accumulated deficit	-17,754,622	-11,455,079
Total liabilities and shareholders' equity	547,006,728	336,479,067
Scenario, Previously Reported [Member]	'	'
Assets	'	'
Loan participation interest - related parties, net	27,331,908	29,743,602
Notes receivable, net	326,121,997	246,450,255
Notes receivable - related parties, net	29,263,370	29,350,382
Total assets	557,848,733	344,871,174
Liabilities and Shareholdersb Equity	'	'
Accumulated deficit	-6,912,617	-3,062,972
Total liabilities and shareholders' equity	557,848,733	344,871,174
Restatement Adjustment [Member]	'	'
Assets	'	'
Loan participation interest - related parties, net	-560,323	-350,286
Notes receivable, net	-8,795,761	-6,477,654
Notes receivable - related parties, net	-1,485,921	-1,564,167
Total assets	-10,842,005	-8,392,107
Liabilities and Shareholdersb Equity	'	'
Accumulated deficit	-10,842,005	-8,392,107
Total liabilities and shareholders' equity	($10,842,005)	($8,392,107)

Restatement_Details_1

Restatement (Details 1) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
General and administrative - related parties	$2,532,685	$1,138,152	$3,452,699	$1,603,256
Total noninterest expense	4,773,099	2,331,326	7,596,508	3,746,361
Net income	6,134,695	3,081,763	12,976,067	6,198,833
Net income per weighted average share outstanding (in dollars per share)	$0.23	$0.30	$0.57	$0.68
Scenario, Previously Reported [Member]	'	'	'	'
General and administrative - related parties	539,871	287,016	1,002,801	548,377
Total noninterest expense	2,780,285	1,480,190	5,146,610	2,691,482
Net income	8,127,509	3,932,899	15,425,965	7,253,712
Net income per weighted average share outstanding (in dollars per share)	$0.31	$0.38	$0.68	$0.79
Restatement Adjustment [Member]	'	'	'	'
General and administrative - related parties	1,992,814	851,136	2,449,898	1,054,879
Total noninterest expense	1,992,814	851,136	2,449,898	1,054,879
Net income	($1,992,814)	($851,136)	($2,449,898)	($1,054,879)
Net income per weighted average share outstanding (in dollars per share)	($0.08)	($0.08)	($0.11)	($0.11)

Restatement_Details_2

Restatement (Details 2) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Operating Activities	'	'	'	'
Net income	$6,134,695	$3,081,763	$12,976,067	$6,198,833
Net cash provided by operating activities	'	'	5,443,191	2,006,462
Investing Activities	'	'	'	'
Investments in loan participation interests - related party	'	'	-6,968,691	-3,794,896
Investments in notes receivable	'	'	-116,162,502	-66,918,781
Investments in notes receivable - related party	'	'	-7,972,364	-5,444,215
Net cash used in investing activities	'	'	-75,603,899	-54,268,965
Net increase in cash and cash equivalents	'	'	132,644,369	9,267,612
Scenario, Previously Reported [Member]	'	'	'	'
Operating Activities	'	'	'	'
Net income	8,127,509	3,932,899	15,425,965	7,253,712
Net cash provided by operating activities	'	'	7,893,089	3,061,341
Investing Activities	'	'	'	'
Investments in loan participation interests - related party	'	'	-7,178,728	-3,786,047
Investments in notes receivable	'	'	-118,480,609	-68,032,325
Investments in notes receivable - related party	'	'	-7,894,118	-5,394,399
Net cash used in investing activities	'	'	-78,053,797	-55,323,844
Net increase in cash and cash equivalents	'	'	132,644,369	9,267,612
Restatement Adjustment [Member]	'	'	'	'
Operating Activities	'	'	'	'
Net income	-1,992,814	-851,136	-2,449,898	-1,054,879
Net cash provided by operating activities	'	'	-2,449,898	-1,054,879
Investing Activities	'	'	'	'
Investments in loan participation interests - related party	'	'	210,037	-8,849
Investments in notes receivable	'	'	2,318,107	1,113,544
Investments in notes receivable - related party	'	'	-78,246	-49,816
Net cash used in investing activities	'	'	2,449,898	1,054,879
Net increase in cash and cash equivalents	'	'	$0	$0

Registration_Statement_Details

Registration Statement (Details Textual) (USD $)

1 Months Ended

19 Months Ended

44 Months Ended

1 Months Ended

Oct. 31, 2012

Nov. 30, 2009

Jun. 30, 2011

Jun. 30, 2013

Oct. 19, 2012

Nov. 12, 2009

Jun. 30, 2013

Oct. 19, 2012

Nov. 12, 2009

Apr. 30, 2013

Jun. 30, 2013

Apr. 19, 2013

Subsequent Event [Member]

Distribution Reinvestment Plan [Member]

Distribution Reinvestment Plan [Member]

Distribution Reinvestment Plan [Member]

Distribution Reinvestment Plan [Member]

Distribution Reinvestment Plan [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Common Shares Of Beneficial Interest To Be Offered, Maximum Number

'

'

'

'

20,000,000

25,000,000

'

10,000,000

10,000,000

'

'

7,500,000

Common Shares Of Beneficial Interest To Be Offered, Price Per Share (in dollars per share)

$20

$20

$20

$20

'

'

'

'

'

$20

'

'

Common Shares Of Beneficial Interest Being Offered Reallocated

'

'

'

'

'

'

34,000,000

'

'

'

1,000,000

'

Loans_and_Allowance_for_Credit2

Loans and Allowance for Credit Losses (Details) (USD $)	Jun. 30, 2013	Dec. 31, 2012
Loan participation interest - related parties	$26,771,585	$29,393,316
Notes receivable, net	317,326,236	239,972,601
Notes receivable - related parties	27,777,449	27,786,215
Total	$371,875,000	$297,152,000

Loans_and_Allowance_for_Credit3

Loans and Allowance for Credit Losses (Details 1) (USD $)	Jun. 30, 2013	Dec. 31, 2012
Real Estate:	'	'
Construction, acquisition and land development	$375,963,000	$300,151,000
Allowance for loan losses	-2,647,000	-1,766,000
Unamortized commitment fees	-1,441,000	-1,233,000
Total	$371,875,000	$297,152,000

Loans_and_Allowance_for_Credit4

Loans and Allowance for Credit Losses (Details 2) (USD $)	Jun. 30, 2013	Dec. 31, 2012
Construction, acquisition and land development	$375,963,000	$300,151,000
Notes and Loan Receivable Outstanding, Number	89	68
Percentage Of Notes and Loan Receivable Outstanding	100.00%	100.00%
Related Party [Member]	'	'
Construction, acquisition and land development	54,761,000	57,443,000
Notes and Loan Receivable Outstanding, Number	17	18
Percentage Of Notes and Loan Receivable Outstanding	100.00%	100.00%
Non Related Party [Member]	'	'
Construction, acquisition and land development	321,202,000	242,708,000
Notes and Loan Receivable Outstanding, Number	72	50
Percentage Of Notes and Loan Receivable Outstanding	100.00%	100.00%
Matured [Member]	'	'
Construction, acquisition and land development	0	160,000
Notes and Loan Receivable Outstanding, Number	0	1
Percentage Of Notes and Loan Receivable Outstanding	0.00%	0.00%	[1]
Matured [Member] | Related Party [Member]	'	'
Construction, acquisition and land development	0	0
Notes and Loan Receivable Outstanding, Number	0	0
Percentage Of Notes and Loan Receivable Outstanding	0.00%	0.00%
Matured [Member] | Non Related Party [Member]	'	'
Construction, acquisition and land development	0	160,000
Notes and Loan Receivable Outstanding, Number	0	1
Percentage Of Notes and Loan Receivable Outstanding	0.00%	0.00%	[1]
Maturity Date 2013 [Member]	'	'
Construction, acquisition and land development	84,860,000	106,217,000
Notes and Loan Receivable Outstanding, Number	20	29
Percentage Of Notes and Loan Receivable Outstanding	23.00%	35.00%
Maturity Date 2013 [Member] | Related Party [Member]	'	'
Construction, acquisition and land development	7,387,000	34,414,000
Notes and Loan Receivable Outstanding, Number	7	12
Percentage Of Notes and Loan Receivable Outstanding	13.00%	60.00%
Maturity Date 2013 [Member] | Non Related Party [Member]	'	'
Construction, acquisition and land development	77,473,000	71,803,000
Notes and Loan Receivable Outstanding, Number	13	17
Percentage Of Notes and Loan Receivable Outstanding	24.00%	30.00%
Maturity Date 2014 [Member]	'	'
Construction, acquisition and land development	174,135,000	122,222,000
Notes and Loan Receivable Outstanding, Number	25	16
Percentage Of Notes and Loan Receivable Outstanding	46.00%	41.00%
Maturity Date 2014 [Member] | Related Party [Member]	'	'
Construction, acquisition and land development	22,979,000	4,000,000
Notes and Loan Receivable Outstanding, Number	5	2
Percentage Of Notes and Loan Receivable Outstanding	42.00%	7.00%
Maturity Date 2014 [Member] | Non Related Party [Member]	'	'
Construction, acquisition and land development	151,156,000	118,222,000
Notes and Loan Receivable Outstanding, Number	20	14
Percentage Of Notes and Loan Receivable Outstanding	47.00%	49.00%
Maturity Date 2015 [Member]	'	'
Construction, acquisition and land development	87,354,000	65,543,000
Notes and Loan Receivable Outstanding, Number	24	21
Percentage Of Notes and Loan Receivable Outstanding	23.00%	22.00%
Maturity Date 2015 [Member] | Related Party [Member]	'	'
Construction, acquisition and land development	17,245,000	13,020,000
Notes and Loan Receivable Outstanding, Number	4	3
Percentage Of Notes and Loan Receivable Outstanding	32.00%	23.00%
Maturity Date 2015 [Member] | Non Related Party [Member]	'	'
Construction, acquisition and land development	70,109,000	52,523,000
Notes and Loan Receivable Outstanding, Number	20	18
Percentage Of Notes and Loan Receivable Outstanding	22.00%	21.00%
Maturity Date 2016 [Member]	'	'
Construction, acquisition and land development	25,807,000	6,009,000
Notes and Loan Receivable Outstanding, Number	17	1
Percentage Of Notes and Loan Receivable Outstanding	7.00%	2.00%
Maturity Date 2016 [Member] | Related Party [Member]	'	'
Construction, acquisition and land development	7,150,000	6,009,000
Notes and Loan Receivable Outstanding, Number	1	1
Percentage Of Notes and Loan Receivable Outstanding	13.00%	10.00%
Maturity Date 2016 [Member] | Non Related Party [Member]	'	'
Construction, acquisition and land development	18,657,000	0
Notes and Loan Receivable Outstanding, Number	16	0
Percentage Of Notes and Loan Receivable Outstanding	6.00%	0.00%
Maturity Date 2017 [Member]	'	'
Construction, acquisition and land development	3,807,000	'
Notes and Loan Receivable Outstanding, Number	3	'
Percentage Of Notes and Loan Receivable Outstanding	1.00%	'
Maturity Date 2017 [Member] | Related Party [Member]	'	'
Construction, acquisition and land development	0	'
Notes and Loan Receivable Outstanding, Number	0	'
Percentage Of Notes and Loan Receivable Outstanding	0.00%	'
Maturity Date 2017 [Member] | Non Related Party [Member]	'	'
Construction, acquisition and land development	$3,807,000	'
Notes and Loan Receivable Outstanding, Number	3	'
Percentage Of Notes and Loan Receivable Outstanding	1.00%	'
[1]	Less than 1%

Loans_and_Allowance_for_Credit5

Loans and Allowance for Credit Losses (Details 3) (USD $)	6 Months Ended
	Jun. 30, 2013		Dec. 31, 2012
Matured Notes Receivable Outstanding, Amount	$0		$160,000
Matured Notes Receivable Outstanding, Number	0		1
Percentage Of Matured Notes Receivable Outstanding	0.00%		100.00%
Aggregate Unpaid Principal Balance, Matured Notes Receivable, Extended	0	[1],[2]	'
Matured Notes Receivable, Period Increase (Decrease)	-160,000	[2],[3]	'
Matured Noted Receivable, Current Year	0	[2],[4]	'
Maturity Date 2012 [Member]	'		'
Matured Notes Receivable Outstanding, Amount	0		160,000
Matured Notes Receivable Outstanding, Number	0		1
Percentage Of Matured Notes Receivable Outstanding	0.00%		100.00%
Aggregate Unpaid Principal Balance, Matured Notes Receivable, Extended	0	[1],[2]	'
Matured Notes Receivable, Period Increase (Decrease)	-160,000	[2],[3]	'
Matured Noted Receivable, Current Year	$0	[2],[4]	'
[1]	Amounts represent aggregate unpaid principal balance as of December 31, 2012 of matured loans as of December 31, 2012 that were extended but not paid in full during the six months ended June 30, 2013.
[2]	The table does not reflect activity for loans that matured or were due to mature during the six months ended June 30, 2013, but were extended on or prior to June 30, 2013.
[3]	For loans matured as of December 31, 2012, net loan activity represents all activity on the loans during the six months ended June 30, 2013, including accrued interest, payment of fees and expenses, charge-offs and/or repayments.
[4]	Amounts represent aggregate unpaid principal balance as of December 31, 2012 of loans that matured during the six months ended June 30, 2013 and remained matured as of June 30, 2013.

Loans_and_Allowance_for_Credit6

Loans and Allowance for Credit Losses (Details 4) (USD $)	Jun. 30, 2013	Dec. 31, 2012
Construction, acquisition and land development	$375,963,000	$300,151,000
Credit Quality Level 1 [Member]	'	'
Construction, acquisition and land development	375,963,000	300,151,000
Credit Quality Level 2 [Member]	'	'
Construction, acquisition and land development	0	0
Credit Quality Level 3 [Member]	'	'
Construction, acquisition and land development	$0	$0

Loans_and_Allowance_for_Credit7

Loans and Allowance for Credit Losses (Details 5) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Balance, beginning of year	$1,766,000	$675,000
Provision for loan losses	881,000	1,091,000
Charge-offs	0	0
Balance, end of period	$2,647,000	$1,766,000

Loans_and_Allowance_for_Credit8

Loans and Allowance for Credit Losses (Details Textual) (USD $)	Jun. 30, 2013	Dec. 31, 2012
Loans Originated And Purchased Number	109	84
Loans Repaid Fully By Respective Borrower, Number	20	16
Matured Loan, Unpaid Principal Balance	'	$160,000
Matured Loan, Number	'	1
Matured Not Impaired Loan Number	'	1

Shareholders_Equity_Details

Shareholders' Equity (Details) (USD $)	6 Months Ended
	Jun. 30, 2013
Special Distribution One [Member]	'
Authorization Date	8-Sep-10	[1]
Record Date	15-Sep-10	[2]
Rate	$0.05	[3]
Pay Date	15-Oct-10	[4]
Special Distribution Two [Member]	'
Authorization Date	8-Sep-10	[1]
Record Date	15-Dec-10	[2]
Rate	$0.15	[3]
Pay Date	1-Feb-11	[4]
Special Distribution Three [Member]	'
Authorization Date	10-Mar-11	[1]
Record Date	30-Apr-11	[2]
Rate	$0.10	[3]
Pay Date	17-May-11	[4]
Special Distribution Four [Member]	'
Authorization Date	27-Jun-11	[1]
Record Date	31-Aug-11	[2]
Rate	$0.05	[3]
Pay Date	13-Sep-11	[4]
Special Distribution Five [Member]	'
Authorization Date	1-Mar-12	[1]
Record Date	30-Apr-12	[2]
Rate	$0.05	[3]
Pay Date	18-May-12	[4]
Special Distribution Six [Member]	'
Authorization Date	15-Aug-12	[1]
Record Date	1-Oct-12	[2]
Rate	$0.05	[3]
Pay Date	19-Oct-12	[4]
Special Distribution Seven [Member]	'
Authorization Date	10-Oct-12	[1]
Record Date	14-Dec-12	[2]
Rate	$0.05	[3]
Pay Date	15-Feb-13	[4]
Special Distribution Eight [Member]	'
Authorization Date	6-Mar-13	[1]
Record Date	15-Apr-13	[2]
Rate	$0.05	[3]
Pay Date	17-May-13	[4]
[1]	Represents the date the distribution was authorized by our board of trustees.
[2]	All outstanding common shares of beneficial interest as of the record date receive the distribution.
[3]	Represents the distribution rate per common share of beneficial interest on the record date.
[4]	Represents the date the special distribution was paid or will be paid in cash and DRIP or Secondary DRIP shares.

Shareholders_Equity_Details_1

Shareholders' Equity (Details 1) (USD $)	6 Months Ended		61 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013
Distributions	$18,718,796	$7,496,552	$48,100,000
December Distributions [Member]	'	'	'
Date Paid	16-Jan-13	'	'
Distributions	2,385,000	'	'
December Distributions One [Member]	'	'	'
Date Paid	15-Feb-13	'	'
Distributions	856,000	'	'
January Distributions [Member]	'	'	'
Date Paid	22-Feb-13	'	'
Distributions	2,494,000	'	'
February Distributions [Member]	'	'	'
Date Paid	22-Mar-13	'	'
Distributions	2,353,000	'	'
March Distributions [Member]	'	'	'
Date Paid	23-Apr-13	'	'
Distributions	2,772,000	'	'
April Distributions [Member]	'	'	'
Date Paid	17-May-13	'	'
Distributions	1,094,000	'	'
April Distributions One [Member]	'	'	'
Date Paid	23-May-13	'	'
Distributions	2,964,000	'	'
May Distributions [Member]	'	'	'
Date Paid	21-Jun-13	'	'
Distributions	$3,800,000	'	'

Shareholders_Equity_Details_2

Shareholders' Equity (Details 2) (USD $)	6 Months Ended			61 Months Ended
	Jun. 30, 2013		Jun. 30, 2012	Jun. 30, 2013
Distributions paid in cash	$12,056,000		$4,709,000	'
Distributions reinvested	6,662,000	[1]	2,788,000	'
Total distributions	18,718,796		7,496,552	48,100,000
Source of distributions:	'		'	'
Cash from operations	5,443,000		2,006,000	'
Borrowings under credit facilities	0		5,491,000	'
Proceeds from offering	13,275,000		0	'
Total sources	$18,718,000		$7,497,000	'
Cash from operations, percentage	29.00%		27.00%	'
Borrowings under credit facilities, percentage	0.00%		73.00%	'
Proceeds from offering, percentage	71.00%		0.00%	'
Total sources, percentage	100.00%		100.00%	'
[1]	Represents the date the special distribution was paid or will be paid in cash and DRIP or Secondary DRIP shares.

Shareholders_Equity_Details_Te

Shareholders' Equity (Details Textual) (USD $)

1 Months Ended

6 Months Ended

19 Months Ended

38 Months Ended

44 Months Ended

61 Months Ended

Oct. 31, 2012

Nov. 30, 2009

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2011

Dec. 31, 2012

Jun. 30, 2013

Jun. 30, 2013

Shares of beneficial interest, shares issued

'

'

31,604,023

'

'

17,624,839

31,604,023

31,604,023

Proceeds From Issuance Of Common Stock Net Of Issuance Costs

'

'

'

'

'

'

$535,000,000

[1]

'

Treasury stock, shares

'

'

177,731

'

'

124,531

177,731

177,731

Treasury Stock, Value, Acquired, Cost Method

'

'

'

'

'

2,400,000

[1]

3,400,000

[1]

'

Taxable Income, Minimum Percentage To Be Distributed

'

'

'

'

'

'

90.00%

[1]

'

Distribution Made to Member or Limited Partner, Distributions Paid, Per Unit

'

'

'

'

$0.00

[1]

'

$0.00

[1]

'

Distribution Made To Member Or Limited Partner Distributions Paid Rate

'

'

'

'

8.00%

[1]

'

8.20%

[1]

'

Common Shares Of Beneficial Interest To Be Offered, Price Per Share (in dollars per share)

$20

$20

'

'

$20

'

$20

'

Distributions

'

'

18,718,796

7,496,552

'

'

'

48,100,000

Distributions paid in cash

'

'

12,056,000

4,709,000

'

'

'

'

Distributions reinvested

'

'

6,662,000

[1]

2,788,000

'

'

'

'

Net cash provided by operating activities

'

'

5,443,191

2,006,462

'

'

'

'

Distributions payable

'

'

2,513,039

'

'

1,956,226

2,513,039

2,513,039

Distribution Reinvestment Plan [Member]

'

'

'

'

'

'

'

'

Shares of beneficial interest, shares issued

'

'

723,617

'

'

534,982

723,617

723,617

Proceeds from Issuance or Sale of Equity

'

'

'

'

'

10,700,000

14,500,000

'

Primary Offering [Member]

'

'

'

'

'

'

'

'

Shares of beneficial interest, shares issued

'

'

30,735,813

'

'

17,089,857

30,735,813

30,735,813

Proceeds From Issuance Of Common Stock Net Of Issuance Costs

'

'

'

'

'

297,400,000

'

'

Proceeds from Issuance or Sale of Equity

'

'

'

'

'

341,800,000

614,700,000

'

Secondary Distribution Reinvestment Plan [Member]

'

'

'

'

'

'

'

'

Shares of beneficial interest, shares issued

'

'

144,593

'

'

'

144,593

144,593

Proceeds from Issuance or Sale of Equity

'

'

$2,900,000

'

'

'

'

'

[1]

Represents the date the special distribution was paid or will be paid in cash and DRIP or Secondary DRIP shares.

Share_Redemption_Program_Detai

Share Redemption Program (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Balance, beginning of year (in shares)	0	0
Redemption requests received (in shares)	53,200	96,016
Shares redeemed (in shares)	-53,200	-96,016
Balance, end of period (in shares)	0	0

Share_Redemption_Program_Detai1

Share Redemption Program (Details Textual) (USD $)	6 Months Ended
	Jun. 30, 2013
Share Redemption Program, Shares Held For Five Years, Purchase Price Description	'for any shares held at least five years, the lesser of the purchase price actually paid or the then-current fair market value of the shares as determined by the most recent annual valuation of our shares.
Shares Redeemed Upon Death Of Shareholder, Purchase Price Description	'the purchase price the shareholder actually paid for the shares or (2) $20.00 per share.
Shares Redeemed Upon Death Of Shareholder, Minimum Purchase Price	$20
Maximum Percentage Of Units Redeemable Upon Death Of Limited Partner	1.00%
Maximum Percentage Of Shares Redeemable	5.00%
Maximum Percentage Of Cash Available For Redemption	1.00%
Shares Held Less Than Two Years [Member]	'
Share Redemption Program, Purchase Price, Percentage	92.00%
Shares Held For Two Years But Less Than Three Years [Member]	'
Share Redemption Program, Purchase Price, Percentage	94.00%
Shares Held For Three Years But Less Than Four Years [Member]	'
Share Redemption Program, Purchase Price, Percentage	96.00%
Shares Held For Four Years But Less Than Five Years [Member]	'
Share Redemption Program, Purchase Price, Percentage	98.00%

Organizational_and_Offering_Co1

Organizational and Offering Compensation (Details Textual)	6 Months Ended
	Jun. 30, 2013
Offering Compensation, Percentage	3.00%
Selling Commissions, Percentage	6.50%
Dealer Manager Fees, Percentage	3.50%

Operational_Compensation_Detai

Operational Compensation (Details Textual)	6 Months Ended
	Jun. 30, 2013
Advisory Fee On Average Of Invested Assets Percentage	2.00%
Line Of Credit Facility Debt Financing Fee Percentage	1.00%
Line Of Credit Facility Annual Renewal Of Debt Financing Fee Percentage	0.25%
Percentage Of Advisory Fee Based On Preceding Year Net Income	15.00%
Preceding Year Net Income, Minimum Percentage Applicable For Advisory Fee Calculation	10.00%

DispositionLiquidation_Compens1

Disposition/Liquidation Compensation (Details Textual)	6 Months Ended
	Jun. 30, 2013
Securitized Loan Pool Placement Fee Percentage	2.00%
Listing Of Common Shares In National Securities Exchange Fee Percentage	15.00%
Advisory Disposition Fee Determination Criteria	'of the lesser of one-half of the reasonable and customary real estate or brokerage commission or 2% of the contract sales price of each property sold
Disposition Fee Payable To Affiliates Percentage On Contract Sale Price	2.00%
Maximum Total Disposition Fees	6.00%
Listing Of Common Shares In National Securities Exchange [Member]	'
Basic Percentage Of Annual Cumulative Return For Determination Of Advisory Fee	10.00%

Notes_Payable_Details_Textual

Notes Payable (Details Textual) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012	Aug. 10, 2010	Feb. 05, 2010
Interest expense	$382,296	$378,689	$856,677	$798,684	'	'	'
Raley Holdings Credit Facility [Member]	'	'	'	'	'	'	'
Line Of Credit Facility Borrowing Capacity	'	'	'	'	'	20,000,000	8,000,000
Line of Credit Facility, Interest Rate During Period	'	'	8.50%	'	'	'	'
Line of Credit Facility, Expiration Date	'	'	5-Feb-14	'	'	'	'
Line of Credit Facility, Amount Outstanding	'	'	'	'	5,100,000	'	'
Interest expense	$67,000	$122,000	$165,000	$284,000	'	'	'

Lines_of_Credit_UDF_IV_HF_CTB_

Lines of Credit UDF IV HF CTB LOC (Details Textual) (USD $)	3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended				1 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012	19-May-10	Jul. 31, 2013
					UDF IV HF CTB LOC [Member]	UDF IV HF CTB LOC [Member]	UDF IV HF CTB LOC [Member]	UDF IV HF CTB LOC [Member]	UDF IV HF CTB LOC [Member]	UDF IV HF CTB LOC [Member]	UDF IV HF CTB LOC [Member]
											Subsequent Event [Member]
Line Of Credit Facility Borrowing Capacity	'	'	'	'	'	'	'	'	'	$6,000,000	'
Line of Credit Facility, Interest Rate Description	'	'	'	'	'	'	'interest at prime plus 1%, subject to a floor of 5.5% (5.5% at June 30, 2013)	'	'	'	'the interest rate floor was decreased to 4.25%
Line of Credit Facility, Expiration Date	'	'	'	'	'	'	19-Oct-14	'	'	'	'
Line Of Credit Facility Origination Fee	'	'	'	'	'	'	'	'	'	60,000	'
Line Of Credit Facility, Credit Enhancement Fee, Percentage	'	'	'	'	'	'	1.00%	'	'	'	'
Line of Credit Facility, Amount Outstanding	'	'	'	'	'	'	'	'	6,000,000	'	'
Interest expense	382,296	378,689	856,677	798,684	64,000	33,000	147,000	71,000	'	'	'
Line of Credit Facility, Maximum Borrowing Capacity	'	'	'	'	'	'	'	'	'	'	10,000,000
Line Of Credit Facility Additional Origination Fee	'	'	'	'	'	'	'	'	'	'	$30,000

Lines_of_Credit_CTB_Revolver_D

Lines of Credit CTB Revolver (Details Textual) (USD $)	3 Months Ended				6 Months Ended
	Jun. 30, 2013	Mar. 31, 2013	Jun. 30, 2012	Mar. 31, 2012	Jun. 30, 2013	Jun. 30, 2012	Apr. 30, 2013	Aug. 19, 2010
Interest expense	$382,296	'	$378,689	'	$856,677	$798,684	'	'
CTB Revolver [Member]	'	'	'	'	'	'	'	'
Line Of Credit Facility Borrowing Capacity	'	'	'	'	'	'	'	8,000,000
Line of Credit Facility, Interest Rate Description	'	'	'	'	'interest rate on the CTB Revolver is equal to the greater of prime plus 1% or 5.5% per annum (5.5% at June 30, 2013).	'	'	'
Line of Credit Facility, Expiration Date	'	'	'	'	19-Aug-13	'	'	'
Line Of Credit Facility Origination Fee	'	'	'	'	'	'	70,000	80,000
Line Of Credit Facility, Credit Enhancement Fee, Percentage	'	'	'	'	1.00%	'	'	'
Line of Credit Facility, Amount Outstanding	8,000,000	'	'	'	8,000,000	'	'	'
Interest expense	$80,000	'	$79,000	'	$190,000	$158,000	'	'

Lines_of_Credit_UTB_Revolver_D

Lines of Credit UTB Revolver (Details Textual) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012	Sep. 29, 2012	Aug. 18, 2011	Sep. 29, 2010
Interest expense	$382,296	$378,689	$856,677	$798,684	'	'	'	'
UTB Revolver [Member]	'	'	'	'	'	'	'	'
Line Of Credit Facility Borrowing Capacity	'	'	'	'	'	'	4,000,000	3,400,000
Line of Credit Facility, Expiration Date	'	'	29-Sep-13	'	'	'	'	'
Line of Credit Facility, Interest Rate Description	'	'	'interest at prime plus 1%, subject to a floor of 5.5% (5.5% at June 30, 2013)	'	'	'	'	'
Line Of Credit Facility Origination Fee	'	'	'	'	'	'	'	34,000
Loan Amendment Agreement Additional Origination Fee	'	'	'	'	'	20,000	23,000	'
Line of Credit Facility, Amount Outstanding	3,700,000	'	3,700,000	'	3,800,000	'	'	'
Interest expense	$52,000	$56,000	$103,000	$111,000	'	'	'	'

Lines_of_Credit_F_and_M_Loan_D

Lines of Credit F and M Loan (Details Textual) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012	Dec. 04, 2012	Sep. 01, 2011	Dec. 14, 2010
Interest expense	$382,296	$378,689	$856,677	$798,684	'	'	'	'
F&M Loan [Member]	'	'	'	'	'	'	'	'
Line Of Credit Facility Borrowing Capacity	'	'	'	'	'	10,000,000	7,500,000	5,000,000
Line of Credit Facility, Interest Rate Description	'	'	'interest rate on the F&M Loan is equal to the greater of prime plus 1.5% or 5.0% per annum (5.0% at June 30, 2013).	'	'	'	'	'
Line of Credit Facility, Expiration Date	'	'	14-Dec-14	'	'	'	'	'
Line Of Credit Facility Origination Fee	'	'	'	'	'	'	'	50,000
Loan Amendment Agreement Additional Origination Fee	'	'	'	'	'	25,000	25,000	'
Line Of Credit Facility Renewal Fee	'	'	'	'	'	38,000	'	'
Line Of Credit Facility, Credit Enhancement Fee, Percentage	'	'	1.00%	'	'	'	'	'
Line of Credit Facility, Amount Outstanding	5,200,000	'	5,200,000	'	5,700,000	'	'	'
Interest expense	$70,000	$77,000	$141,000	$148,000	'	'	'	'

Lines_of_Credit_Legacy_Revolve

Lines of Credit Legacy Revolver (Details Textual) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Jan. 31, 2013	Dec. 31, 2012	Nov. 01, 2011
Interest expense	$382,296	$378,689	$856,677	$798,684	'	'	'
Legacy Revolver [Member]	'	'	'	'	'	'	'
Line Of Credit Facility Borrowing Capacity	'	'	'	'	'	'	5,000,000
Line of Credit Facility, Interest Rate Description	'	'	'the interest rate on the Legacy Revolver is equal to the greater of prime plus 1% or 5.5% per annum (5.5% at June 30, 2013), provided that the interest rate associated with advances related to development loans is 5.875% until substantial completion of the development project.	'	'	'	'
Line of Credit Facility, Expiration Date	'	'	12-Jan-15	'	'	'	'
Line Of Credit Facility Origination Fee	'	'	'	'	'	'	50,000
Line Of Credit Facility Renewal Fee	'	'	'	'	50,000	'	'
Line of Credit Facility, Amount Outstanding	99,000	'	99,000	'	'	142,000	'
Interest expense	$1,000	$12,000	$3,000	$25,000	'	'	'

Lines_of_Credit_Veritex_Revolv

Lines of Credit Veritex Revolver (Details Textual) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012	Jul. 31, 2012
Interest expense	$382,296	378,689	$856,677	798,684	'	'
Veritex Revolver [Member]	'	'	'	'	'	'
Line Of Credit Facility Borrowing Capacity	'	'	'	'	'	5,300,000
Line of Credit Facility, Interest Rate Description	'	'	'The interest rate under the Veritex Revolver is equal to the greater of prime plus 1.5% or 5% per annum (5% at June 30, 2013).	'	'	'
Line of Credit Facility, Expiration Date	'	'	31-Jul-15	'	'	'
Line Of Credit Facility Origination Fee	'	'	'	'	'	53,000
Line of Credit Facility, Amount Outstanding	3,300,000	'	3,300,000	'	5,000,000	'
Interest expense	$48,000	'	$107,000	'	'	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details Textual) (USD $)

Jun. 30, 2013

Dec. 31, 2012

Jun. 30, 2013

Dec. 31, 2012

Jun. 26, 2009

Jun. 30, 2013

Dec. 31, 2011

Jun. 30, 2013

Dec. 31, 2012

Jun. 30, 2013

Jun. 30, 2013

Dec. 31, 2012

Dec. 31, 2011

UMTH LD [Member]

UMTH LD [Member]

UMTH LD [Member]

UDF LOF [Member]

Babson Mezzanine Real Estate Partners [Member]

Financial Guarantee [Member]

Financial Guarantee [Member]

Stoneleigh Construction Loan Guaranty [Member]

Stoneleigh Construction Loan Guaranty [Member]

Stoneleigh Construction Loan Guaranty [Member]

Maple Wolf Stoneleigh, Llc [Member]

Community Trust Bank [Member]

Community Trust Bank [Member]

Community Trust Bank [Member]

UDF LOF [Member]

Line Of Credit Facility Guaranty Amount

'

'

'

'

$6,300,000

'

'

'

'

'

'

'

'

Line Of Credit Facility Guaranty Outstanding

'

'

5,700,000

6,200,000

'

'

'

'

'

'

'

'

'

Construction Loan Guaranty Agreement Amount Guaranteed By Entity

'

'

'

'

'

'

25,000,000

'

'

'

'

'

'

Percentage Interest of Related Party Owned By Affiliated Entity

'

'

'

'

'

'

'

'

'

'

'

'

75.00%

Percentage Interest of Related Party Owned By Asset Manager

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

Guaranty Facility, Credit Enhancement Fee Receivable, Percentage

'

'

'

'

'

'

'

'

'

'

'

1.00%

'

Construction Loan Agreement, Guaranty Outstanding

'

'

'

'

'

'

'

'

'

'

8,700,000

9,700,000

'

Guarantees Outstanding, Number

7

7

'

'

'

'

'

'

'

'

'

'

'

Guarantee Obligations Credit Risk

51,900,000

51,900,000

'

'

'

'

'

'

'

'

'

'

'

Guarantees Outstanding, Borrowed Value

'

'

'

'

'

'

'

0

27,500,000

'

'

'

'

Commitment Fee Income Related Party

'

'

'

'

'

'

'

'

'

$25,000

$54,000

'

'

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Amortization of Financing Costs	$93,000	$53,000	$134,000	$105,000
Udf Iv Hf Ctb Loc [Member]	'	'	'	'
Amortization of Financing Costs	10,000	7,000	18,000	12,000
Credit Facility [Member]	'	'	'	'
Amortization of Financing Costs	3,000	5,000	6,000	11,000
F and M Loan [Member]	'	'	'	'
Amortization of Financing Costs	5,000	16,000	11,000	32,000
Ctb Revolver [Member]	'	'	'	'
Amortization of Financing Costs	67,000	9,000	81,000	18,000
Utb Revolver [Member]	'	'	'	'
Amortization of Financing Costs	3,000	3,000	5,000	7,000
Legacy Revolver [Member]	'	'	'	'
Amortization of Financing Costs	0	13,000	4,000,000	25,000
Veritex Revolver [Member]	'	'	'	'
Amortization of Financing Costs	$5,000	$0	$9,000	$0

Related_Party_Transactions_Det1

Related Party Transactions (Details 1) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Related Party Transaction, Amounts of Transaction	$18,933,000	$15,220,000
Related Party Transaction Payment Percentage	100.00%	100.00%
UMTH GS [Member] | Payment Of O&O Reimbursement [Member]	'	'
Related Party Transaction, Amounts of Transaction	8,137,000	5,878,000
Related Party Transaction Payment Percentage	43.00%	38.00%
UMTH GS [Member] | Advisory Fees [Member]	'	'
Related Party Transaction, Amounts of Transaction	3,333,000	3,924,000
Related Party Transaction Payment Percentage	18.00%	26.00%
UMTH GS [Member] | Debt Financing Fees [Member]	'	'
Related Party Transaction, Amounts of Transaction	210,000	148,000
Related Party Transaction Payment Percentage	1.00%	1.00%
UMTH LD [Member] | Payment Of Placement Fees [Member]	'	'
Related Party Transaction, Amounts of Transaction	7,125,000	5,155,000
Related Party Transaction Payment Percentage	37.00%	34.00%
UDF III [Member] | Credit Enhancement Fees [Member]	'	'
Related Party Transaction, Amounts of Transaction	$128,000	$115,000
Related Party Transaction Payment Percentage	1.00%	1.00%

Related_Party_Transactions_Det2

Related Party Transactions (Details 2) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Advisory Fees	$1,834,678	$911,397	$3,476,245	$1,686,613
Total Advisory fee - Related Party	1,834,678	911,397	3,476,245	1,686,613
Total General and Administrative - Related Parties	2,532,685	1,138,152	3,452,699	1,603,256
Advisory Fees, Percentage	100.00%	100.00%	100.00%	100.00%
Total Advisory fee - Related Party, Percentage	100.00%	100.00%	100.00%	100.00%
Total General and Administrative - Related Parties, Percentage	100.00%	100.00%	100.00%	100.00%
Amortization Of Debt Financing Fees [Member]	'	'	'	'
Total General and Administrative - Related Parties	93,000	53,000	134,000	105,000
Total General and Administrative - Related Parties, Percentage	4.00%	5.00%	4.00%	7.00%
Acquisition and Origination Fees [Member]	'	'	'	'
Total General and Administrative - Related Parties	2,397,000	1,041,000	3,226,000	1,410,000
Total General and Administrative - Related Parties, Percentage	95.00%	91.00%	93.00%	88.00%
Credit Enhancement Fees [Member]	'	'	'	'
Total General and Administrative - Related Parties	$43,000	$44,000	$93,000	$88,000
Total General and Administrative - Related Parties, Percentage	1.00%	4.00%	3.00%	5.00%

Related_Party_Transactions_O_a

Related Party Transactions O and O Reimbursement (Details Textual) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Accrued liabilities - related parties	$869,201	$6,229,710
Organization and Offering Costs [Member]	'	'
Accrued liabilities - related parties	'	4,700,000
Noninterest Expense Offering Cost	$8,100,000	$5,900,000

Related_Party_Transactions_Adv

Related Party Transactions Advisory Fees (Details Textual) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Accrued liabilities - related parties	$869,201	'	$869,201	'	$6,229,710
Advisory fee - related party	1,834,678	911,397	3,476,245	1,686,613	'
Average Of Invested Assets [Member]	'	'	'	'	'
Advisory Fee Percentage	'	'	2.00%	'	'
Advisory Fees [Member]	'	'	'	'	'
Accrued liabilities - related parties	642,000	'	642,000	'	499,000
Advisory fee - related party	$1,800,000	$911,000	$3,500,000	$1,700,000	'

Related_Party_Transactions_Acq

Related Party Transactions Acquisition and Origination Fees (Details Textual) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Accrued Receivable - Related Parties	$5,943,276	'	$5,943,276	'	$1,980,274
General and administrative - related parties	2,532,685	1,138,152	3,452,699	1,603,256	'
Accrued liabilities - related parties	869,201	'	869,201	'	6,229,710
Net Amount Available For Investment In Secured Loans and Other Real Estate Assets [Member]	'	'	'	'	'
Placement Fees Percentage	'	'	3.00%	'	'
Acquisition and Origination Fees [Member]	'	'	'	'	'
General and administrative - related parties	2,400,000	1,000,000	3,200,000	1,400,000	'
Acquisition and Origination Fees [Member] | UMTH LD [Member]	'	'	'	'	'
Accrued Receivable - Related Parties	3,000,000	'	3,000,000	'	'
Accrued liabilities - related parties	'	'	'	'	$868,000

Related_Party_Transactions_Deb

Related Party Transactions Debt Financing Fees (Details Textual) (USD $)	Jun. 30, 2013	Dec. 31, 2012
Accrued liabilities - related parties	$869,201	$6,229,710
Debt Financing Fee [Member]	'	'
Accrued liabilities - related parties	'	$44,000

Related_Party_Transactions_Cre

Related Party Transactions Credit Enhancement Fees (Details Textual) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Accrued liabilities - related parties	$869,201	'	$869,201	'	$6,229,710
General and administrative - related parties	2,532,685	1,138,152	3,452,699	1,603,256	'
CTB Revolver [Member]	'	'	'	'	'
Line Of Credit Facility, Credit Enhancement Fee, Percentage	'	'	1.00%	'	'
UDF III [Member] | Community Trust Bank [Member]	'	'	'	'	'
Line Of Credit Facility, Credit Enhancement Fee, Percentage	'	'	1.00%	'	'
UDF III [Member] | F & M Bank and Trust Company [Member]	'	'	'	'	'
Line Of Credit Facility, Credit Enhancement Fee, Percentage	'	'	1.00%	'	'
Credit Enhancement Fees [Member]	'	'	'	'	'
Accrued liabilities - related parties	4,000	'	4,000	'	11,000
Credit Enhancement Fees [Member] | F & M Bank and Trust Company [Member]	'	'	'	'	'
General and administrative - related parties	14,000	15,000	28,000	29,000	'
Credit Enhancement Fees [Member] | UDF IV HF [Member]	'	'	'	'	'
General and administrative - related parties	16,000	15,000	31,000	30,000	'
Credit Enhancement Fees [Member] | CTB Revolver [Member]	'	'	'	'	'
General and administrative - related parties	$13,000	$14,000	$33,000	$28,000	'

Related_Party_Transactions_Loa

Related Party Transactions Loan Participation Interest Related Parties (Details Textual) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2012

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2011

Dec. 31, 2012

Jun. 10, 2011

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2011

Dec. 31, 2012

Oct. 04, 2011

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2009

Dec. 31, 2012

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2012

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2012

2-May-13

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2010

Jun. 30, 2013

Dec. 31, 2012

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2010

Dec. 31, 2012

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2010

Dec. 31, 2012

Jun. 30, 2013

Jun. 30, 2013

Dec. 31, 2010

Dec. 31, 2010

Carrollton Participation Agreement [Member]

Carrollton Participation Agreement [Member]

Carrollton Participation Agreement [Member]

Carrollton Participation Agreement [Member]

Carrollton Participation Agreement [Member]

Carrollton Participation Agreement [Member]

Carrollton Participation Agreement [Member]

Howe Participation Agreement [Member]

Howe Participation Agreement [Member]

Howe Participation Agreement [Member]

Howe Participation Agreement [Member]

Howe Participation Agreement [Member]

Howe Participation Agreement [Member]

Howe Participation Agreement [Member]

Buffington Participation Agreements [Member]

Buffington Participation Agreements [Member]

Buffington Participation Agreements [Member]

Buffington Participation Agreements [Member]

Buffington Participation Agreements [Member]

Buffington Participation Agreements [Member]

Pine Trace Participation Agreement [Member]

Pine Trace Participation Agreement [Member]

Pine Trace Participation Agreement [Member]

Pine Trace Participation Agreement [Member]

Pine Trace Participation Agreement [Member]

Northpointe Participation Agreement [Member]

Northpointe Participation Agreement [Member]

Northpointe Participation Agreement [Member]

Northpointe Participation Agreement [Member]

Northpointe Participation Agreement [Member]

Northpointe Participation Agreement [Member]

Buffington Participation Agreement Lot Inventory Loan [Member]

Buffington Participation Agreement Lot Inventory Loan [Member]

Buffington Participation Agreement Lot Inventory Loan [Member]

Buffington Participation Agreement Lot Inventory Loan [Member]

Buffington Participation Agreement Lot Inventory Loan [Member]

Buffington Classic Line Loan [Member]

Buffington Classic Line Loan [Member]

TR Finished Lot Participation [Member]

TR Finished Lot Participation [Member]

TR Finished Lot Participation [Member]

TR Finished Lot Participation [Member]

TR Finished Lot Participation [Member]

TR Finished Lot Participation [Member]

TR Paper Lot Participation [Member]

TR Paper Lot Participation [Member]

TR Paper Lot Participation [Member]

TR Paper Lot Participation [Member]

TR Paper Lot Participation [Member]

TR Paper Lot Participation [Member]

Northpointe II Participation Agreement [Member]

Northpointe II Participation Agreement [Member]

UDF III [Member]

UDF III [Member]

acre

Buffington Signature Line Loan [Member]

Buffington Classic Line Loan [Member]

Percentage Interest of Related Party Owned By Affiliated Entity

'

'

'

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

100.00%

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest Rate Terms Description

'

'

'

'

'

'

'

'

'

'The lower of 13% or the highest rate allowed by law.

'

'

'

'

'

'

'Lower of 11.5% or the highest rate allowed by law.

'

'

'

'

'

'

'Lower of 13% or the highest rate allowed by law.

'

'

'

'

'

'Lower of 13% or the highest rate allowed by law.

'

'

'

'

'Lower of 12% or the highest rate allowed by law.

'

'

'

'

'

'Lower of 14% or the highest rate allowed by law.

'

'

'

'

'

'

'Lower of 15% or the highest rate allowed by law.

'

'

'

'

'

'Lower of 15% or the highest rate allowed by law.

'

'

'lower of 12% or the highest rate allowed by law

'

'

Loan participation interest - related parties, net

$26,771,585

'

$26,771,585

'

$29,393,316

'

'

'

'

'

$817,000

'

$599,000

'

$599,000

'

'

$1,300,000

'

$971,000

'

$971,000

'

'

$7,200,000

$5,400,000

'

$5,400,000

'

$5,200,000

$1,600,000

'

$1,600,000

'

$212,000

'

'

'

'

'

'

$357,000

$499,000

$3,600,000

'

$3,600,000

'

'

$3,600,000

$11,000,000

'

$11,000,000

'

'

$10,600,000

$3,300,000

$3,300,000

'

'

Interest income - related parties

1,859,564

1,270,512

3,754,823

2,495,882

'

4,000

89,000

28,000

107,000

'

'

'

32,000

5,000

68,000

83,000

'

'

'

92,000

198,000

308,000

439,000

'

'

177,000

63,000

344,000

63,000

'

36,000

11,000

44,000

11,000

'

'

15,000

8,000

32,000

16,000

'

'

'

134,000

104,000

267,000

206,000

'

'

407,000

346,000

800,000

691,000

'

'

44,000

44,000

'

'

Accrued receivable - related parties

5,943,276

'

5,943,276

'

1,980,274

3,000

'

3,000

'

'

'

'

1,000

'

1,000

'

'

21,000

'

8,000

'

8,000

'

'

'

177,000

'

177,000

'

134,000

44,000

'

44,000

'

'

'

'

'

'

'

'

'

20,000

29,000

'

29,000

'

'

175,000

1,200,000

'

1,200,000

'

'

401,000

'

'

'

'

Loan Participation Amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,500,000

2,000,000

Secured Finished Lot Loan Amount

'

'

'

'

'

'

'

'

'

'

'

$3,400,000

'

'

'

'

'

'

$2,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number Of Residential Lot Loans Secured By First Lien Deed

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'251

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Area Of Undeveloped Lot Loan Secured By First Lien Deed

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

110

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Related_Party_Transactions_Not

Related Party Transactions Notes Receivable Related - Parties (Details Textual) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2012

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2010

Dec. 31, 2012

Jul. 18, 2011

Jan. 18, 2010

Apr. 30, 2010

Oct. 31, 2011

Apr. 30, 2010

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2010

Dec. 31, 2012

Dec. 31, 2011

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2010

Dec. 31, 2012

Dec. 22, 2010

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2011

Dec. 31, 2012

Feb. 17, 2011

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2011

Dec. 31, 2012

Apr. 20, 2011

Dec. 31, 2011

Oct. 26, 2011

Jun. 30, 2013

Jun. 30, 2013

Dec. 31, 2012

Mar. 31, 2013

Sep. 20, 2012

Jun. 30, 2013

Jun. 30, 2013

Dec. 31, 2012

Mar. 31, 2013

Oct. 17, 2012

Jun. 30, 2013

Jun. 30, 2013

Dec. 31, 2012

Nov. 29, 2012

Jun. 30, 2013

Jun. 30, 2013

Dec. 31, 2012

Dec. 14, 2012

HLL Indian Springs Loan [Member]

HLL Indian Springs Loan [Member]

HLL Indian Springs Loan [Member]

HLL Indian Springs Loan [Member]

HLL Indian Springs Loan [Member]

HLL Indian Springs Loan [Member]

HLL Indian Springs Loan [Member]

HLL Indian Springs Loan [Member]

Buffington Signature Construction Loan Agreements [Member]

Buffington Classic Construction Loan Agreements [Member]

Buffington Classic Construction Loan Agreements [Member]

Buffington Loan Agreements [Member]

Buffington Loan Agreements [Member]

Buffington Loan Agreements [Member]

Buffington Loan Agreements [Member]

Buffington Loan Agreements [Member]

Buffington Loan Agreements [Member]

HLL II Highland Farms Loan [Member]

HLL II Highland Farms Loan [Member]

HLL II Highland Farms Loan [Member]

HLL II Highland Farms Loan [Member]

HLL II Highland Farms Loan [Member]

HLL II Highland Farms Loan [Member]

HLL II Highland Farms Loan [Member]

HLL Hidden Meadows Loan [Member]

HLL Hidden Meadows Loan [Member]

HLL Hidden Meadows Loan [Member]

HLL Hidden Meadows Loan [Member]

HLL Hidden Meadows Loan [Member]

HLL Hidden Meadows Loan [Member]

HLL Hidden Meadows Loan [Member]

Ash Creek Loan [Member]

Ash Creek Loan [Member]

Ash Creek Loan [Member]

Ash Creek Loan [Member]

Ash Creek Loan [Member]

Ash Creek Loan [Member]

Ash Creek Loan [Member]

UMTHFII Loan [Member]

UMTHFII Loan [Member]

Udf Tx Two Loan [Member]

Udf Tx Two Loan [Member]

Udf Tx Two Loan [Member]

Udf Tx Two Loan [Member]

Udf Tx Two Loan [Member]

Udf Pm Loan [Member]

Udf Pm Loan [Member]

Udf Pm Loan [Member]

Udf Pm Loan [Member]

Udf Pm Loan [Member]

Hll Is Loan [Member]

Hll Is Loan [Member]

Hll Is Loan [Member]

Hll Is Loan [Member]

One Kr Loan [Member]

One Kr Loan [Member]

One Kr Loan [Member]

One Kr Loan [Member]

acre

acre

Percentage Interest of Related Party Owned By Affiliated Entity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

'

'

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest income - related parties

$1,859,564

$1,270,512

$3,754,823

$2,495,882

'

$1,000

$25,000

$8,000

$51,000

'

'

'

'

'

'

'

$85,000

$5,000

$195,000

'

'

'

$45,000

$43,000

$90,000

$87,000

'

'

'

$326,000

$231,000

$627,000

$442,000

'

'

'

$75,000

$65,000

$155,000

$106,000

'

'

'

'

'

$65,000

$171,000

'

'

'

$65,000

$100,000

'

'

'

$117,000

$220,000

'

'

$225,000

$444,000

'

'

Accrued receivable - related parties

5,943,276

'

5,943,276

'

1,980,274

'

'

'

'

'

2,000

'

1,800,000

'

'

'

'

4,000

'

'

'

'

75,000

'

75,000

'

'

'

'

384,000

'

384,000

'

'

853,000

'

25,000

'

25,000

'

'

60,000

'

'

'

12,000

12,000

81,000

'

'

111,000

111,000

11,000

'

'

255,000

255,000

35,000

'

280,000

280,000

13,000

'

Note Receivable - Related Party Loan Amount

'

'

'

'

'

'

'

'

'

'

'

'

'

1,000,000

7,500,000

6,500,000

'

'

'

'

'

'

'

'

'

'

'

'

1,900,000

'

'

'

'

'

'

9,900,000

'

'

'

'

'

'

3,000,000

'

5,000,000

'

'

'

'

2,900,000

'

'

'

'

5,100,000

'

'

'

6,400,000

'

'

'

15,300,000

Related Party Notes and Loan Receivable, Interest Rate Terms, Description

'

'

'

'

'

'

'

'

'

'lower of 13% or the highest rate allowed by law.

'

'

'

'

'

'

'

'

'

'lower of 13% per annum, or the highest rate allowed by law.

'

'

'

'

'

'

'lower of 13% or the highest rate allowed by law.

'

'

'

'

'

'

'lower of 13% or the highest rate allowed by law

'

'

'

'

'

'

'lower of 13% per annum, or the highest rate allowed by law.

'

'

'lower of 13% per annum, or the highest rate allowed by law.

'

'

'

'lower of 13% per annum, or the highest rate allowed by law.

'

'

'

'

'lower of 13% per annum, or the highest rate allowed by law.

'

'

'

'

'lower of 13% per annum, or the highest rate allowed by law.

'

'

'

'lower of 13% per annum, or the highest rate allowed by law.

'

Number Of Residential Lot Loans Secured By First Lien Deed

'

'

'

'

'

'

'

'

'

'

'

'71

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'68

'

'

'

'

'

'

'91

'

'

'

'

'

'

'

'

'

'

'

'

'

'70

'

'

'

'

'

'

'

'

'

'

'

'

'

Area Of Undeveloped Lot Loan Secured By First Lien Deed

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

24

'

'

'

31

Related Party, Loans Interest Reserve

'

'

'

'

'

'

'

'

'

'

'

289,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

354,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

300,000

'

'

'

600,000

'

'

'

3,200,000

Loan Origination Fee Receivable

'

'

'

'

'

'

'

'

'

'

'

18,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

19,000

99,000

'

99,000

'

'

'

'

'

'

'

'

'

'

15,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

64,000

'

'

'

153,000

Notes receivable - related parties, net

27,777,449

'

27,777,449

'

27,786,215

'

'

'

'

'

1,500,000

'

'

'

'

'

'

'

'

'

399,000

'

1,400,000

'

1,400,000

'

'

1,500,000

'

10,100,000

'

10,100,000

'

'

9,000,000

'

2,200,000

'

2,200,000

'

'

2,500,000

'

'

'

'

'

3,200,000

737,000

'

'

'

892,000

2,700,000

'

3,700,000

3,700,000

3,100,000

'

7,200,000

7,200,000

6,000,000

'

Note Receivable - Related Party Funding Amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,800,000

'

'

'

5,800,000

'

'

'

12,100,000

Percentage Of Applicable Origination Fees Payable To Asset Manager

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number Of Undeveloped Lot Loans Secured By First Lien Deed

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'148

'

'

'

'

'

'

'190

'

'

'

'

'

'

'19

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Commitment Fee Income Related Party

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,000

2,000

4,000

'

'

'

6,000

6,000

12,000

12,000

'

'

'

'

2,000

'

5,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,000

11,000

'

'

13,000

25,000

'

'

Repayment Of Residential Loan Using Proceeds From Private Placement

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$5,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Concentration_of_Credit_Risk_D

Concentration of Credit Risk (Details Textual)	6 Months Ended
	Jun. 30, 2013
Largest Borrower And Affiliate Concentration	64.00%
Credit Risk Concentration Percentage	10.00%

Subsequent_Events_Details_Text

Subsequent Events (Details Textual) (Subsequent Event [Member], USD $)	1 Months Ended		0 Months Ended	1 Months Ended
	Jul. 31, 2013	Jul. 23, 2013	Aug. 05, 2013	Jul. 31, 2013	Jul. 31, 2013	Jul. 31, 2013	Jul. 31, 2013	Jul. 31, 2013
	UDF IV Fin V [Member]	UDF IV Fin V [Member]	UDF IV Fin VII [Member]	UDF IV Fin VII [Member]	URHF Guaranty [Member]	UDF IV FVIM [Member]	UDF IV FVIIM [Member]	UDF IV HF CTB LOC [Member]
Line Of Credit Facility Origination Fee	$55,000	'	$100,000	'	'	'	'	'
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	'	'	'	100.00%	100.00%	100.00%	100.00%	'
Line of Credit Facility, Maximum Borrowing Capacity	'	5,500,000	10,000,000	'	15,000,000	'	'	10,000,000
Line Of Credit Facility, Interest Rate Description	'greater of prime plus 1% or 5.0% per annum	'	'greater of prime plus 1% or 5% per annum	'	'	'	'	'the interest rate floor was decreased to 4.25%
Line Of Credit Facility, Debt Financing Fee	55,000	'	'	100,000	'	'	'	'
Credit Enhancement Fee Description	'	'	'	'	'1/12th of 1% of the outstanding principal balance on the URHF Southwest Loan at the end of each month	'	'	'
Line Of Credit Facility Initial Deposit Percentage	'	'	35.00%	'	'	'	'	'
Line Of Credit Facility Additional Origination Fee	'	'	'	'	'	'	'	$30,000