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Although many bonds have a table of values on the reverse side of the bond, it is often inaccurate because the interest rate may have changed since the bond was issued. Therefore, the worker should contact a bank to verify the current value. Also, the Department of Treasury's website can be used to calculate the value of bonds. www.publicdebt.treas.gov/. For determining eligibility under a MED 1 category for a month prior to June 1, 2014, savings bonds are considered immediately available if purchased on or after November 9, 2002.38 This includes, but is not limited to, Series I and Series EE bonds. During the 6-month period following the date of issuance, bonds issued for face value are counted as a resource in the amount of the face value. Bonds issued at face value include Series I and Series HH bonds. Bonds such as Series EE which are issued at less than face value count as a resource in the amount of the purchase price. Bonds which were purchased prior to November 9, 2002, and are in the 6-month post-issuance period, become a countable resource in the sixth month after purchase. For example, a bond with an issue date in August becomes a countable resource in February; if the value of the bond causes excess resources for the recipient, the worker would discontinue Medicaid effective February 1. Series EE U.S. Savings Bonds and I Bonds purchased after February 1, 2003, are not deemed to be available until the 13th month after the date of purchase.39 2615.50.00 MORTGAGES, LOANS, AND PROMISSORY NOTES A negotiable mortgage, loan, or promissory note held by an individual is a countable resource. Such items are negotiable when they can be sold (there is no legal barrier to the transfer of ownership). The value counted as a resource is the amount of the outstanding principal balance. Also, any payment received from the principal is a resource. The interest portion of any such payment is unearned income. If the mortgage loan or note is non-negotiable, it is not a resource. In that case, only the interest payments received are counted as unearned income. A mortgage, loan, or promissory note should be reviewed by FSSA Legal to resolve questions of negotiability. All promissory notes must be sent to PAL for review. 2615.55.00 LAND SALES CONTRACT A land contract must be evaluated according to the requirements of each assistance category. Property which is being sold on contract is to be entered on the real/personal property resource screen. 2615.55.10 LAND SALES CONTRACT (MED 2) When an applicant/recipient is the owner of a contract for the sale of real property, the equity value of the contract is counted toward the resource limit of the AG.