7): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables)

3 Months Ended

Mar. 31, 2016

Tables/Schedules

Schedule of Financial Instruments Carried at Other Than Fair Value

	Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
Assets
Mortgage loans:
Residential	$       51,696,512	$             -	$             -	$       55,117,152	$       55,117,152
Residential construction	42,826,706	-	-	42,826,706	42,826,706
Commercial	38,870,650	-	-	40,272,245	40,272,245
Mortgage loans, net	$     133,393,868	$             -	$             -	$     138,216,103	$     138,216,103
Policy loans	6,892,022	-	-	6,892,022	6,892,022
Insurance assignments, net	31,165,274	-	-	31,165,274	31,165,274
Short-term investments	17,809,307	-	-	17,809,307	17,809,307
Liabilities
Bank and other loans payable	$     (41,242,032)	$             -	$             -	$     (41,242,032)	$     (41,242,032)

The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows as of December 31, 2015:

	Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
Assets
Mortgage loans:
Residential	$       44,459,613	$             -	$             -	$       47,193,950	$       47,193,950
Residential construction	34,751,443	-	-	34,751,443	34,751,443
Commercial	33,335,849	-	-	34,778,136	34,778,136
Mortgage loans, net	$     112,546,905	$             -	$             -	$     116,723,529	$     116,723,529
Policy loans	6,896,457	-	-	6,896,457	6,896,457
Insurance assignments, net	31,511,195	-	-	31,511,195	31,511,195
Short-term investments	16,915,808	-	-	16,915,808	16,915,808
Liabilities
Bank and other loans payable	$     (40,894,968)	$             -	$             -	$     (40,894,968)	$     (40,894,968)