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

6 Months Ended

Jun. 30, 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	$       50,801,874	$             -	$             -	$       54,087,275	$       54,087,275
Residential construction	44,733,965	-	-	44,733,965	44,733,965
Commercial	35,846,908	-	-	36,919,077	36,919,077
Mortgage loans, net	$     131,382,747	$             -	$             -	$     135,740,317	$     135,740,317
Policy loans	6,753,769	-	-	6,753,769	6,753,769
Insurance assignments, net	29,211,938	-	-	29,211,938	29,211,938
Short-term investments	20,775,666	-	-	20,775,666	20,775,666
Liabilities
Bank and other loans payable	$     (42,589,453)	$             -	$             -	$     (42,589,453)	$     (42,589,453)

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)