Change text but keep reflection on this photo

I am a beginner to photo manipulation. I have been trying to achieve the following two independent tasks using photoshop on the image

• make the badge white (remove all text and color but retain the metallic finish and the reflection and highlights)


• change just the text

My approach was to separate the photo into luminosity and color layers; which I then believed would be easy enough to achieve the two tasks by just modifying the color layer. It sure didnt work.

I would like some help in achieving the above two tasks. I have similar images of other badges from other sources that I need to have the same tasks done.