Ky. Attorney General Jack Conway end of the year tips for consumers

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by Andy Treinen

WHAS11.com

Posted on December 19, 2012 at 5:56 PM

Updated Wednesday, Dec 19 at 6:00 PM

LOUISVILLE, Ky. (WHAS11) -- Kentucky Attorney General Jack Conway was in Louisville Wednesday with some last minute reminders for consumers as 2012 comes to a close.

First, a heads up to anyone who lost their home to foreclosure between 2008 and 2011. There were a number of banks foreclosing illegally and you have until January 18 to apply for a cash payment that comes as the result of the mortgage foreclosure settlement.

"There are over 10,000 people that may be entitled to relief and we want to make sure that they get it in the roughly year in a half that this program will be in place," Kentucky Attorney General Jack Conway said.

To date only around 1,000 people have taken advantage, only hundreds in Kentucky.  But anyone whose mortgage was serviced by Ally, Chase, City, Bank of America and Wells Fargo is eligible. If homeowners were foreclosed upon, they are eligible for $2,000.

"In addition if people are under water, meaning they owe more than their home is worth, they can get their principle written down or their interest rate lowered and the average relief for a Kentuckian who chooses that option is around $35,000 so it's significant relief for people who need a second chance," Conway said.

Conway says it is also the season for late 2012 tax relief and charitable giving. But be cautious who you are contributing to. There are countless worthy causes this holiday season but there are also a handful of year long scrooges looking to take advantage of your good will.

"If people want some comfort that they're giving to a charity where most of the dollars or all of the dollars go to the charitable purpose go to our website at ag.ky.gov or call us at 888-432-9257. You can be linked up to people who work charities and can tell you the list of charities that give the highest amount of money to the actual purpose," Conway said.

Before you decide whether a charity deserves your donation, gather as much information as possible to make sure the charity is not a scam and that your donation reaches someone in need.
 

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