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Bank of America have made the move to an internet based short sale system modeled after there foray into the REO world. We have and are currently using the system and it seems to be an improvement at lest with adding information… One issue is supplying the buyer social security number a requirement is the first 5 numbers not the standard last 4. Coming from a computer background I surmise this was a holdover from the older design…

4. Must I give my Social Security number to private businesses?

General. You generally are not legally required to provide your Social Security number to most businesses - including most health care providers - unless one of the exceptions below applies. However, some companies might refuse to do business with you if you don’t provide your Social Security number. There is no law that prevents businesses from requesting your SSN, and there are few restrictions on what businesses can do with it.

If a business insists on knowing your SSN when you do not see a reason for it, we encourage you to speak to a manager who may be authorized to make an exception or who may know whether company policy requires it. If the company will not allow you to use an alternate number such as your driver’s license number, you may want to take your business elsewhere.

SSN required by federal law. Federal law requires private businesses to collect your SSN when (1) you are involved in a transaction in which the Internal Revenue Service requires notification,* or (2) you are engaged in a financial transaction subject to federal Customer Identification Program rules (see below “Why do financial transactions require my Social Security number?”, http://www.privacyrights.org/fs/fs10-ssn.htm#14).

I can see getting the sellers social but I can’t see it for the buyer…

Richard & Janet - Certified Short Sale Professional
661-733-0507 OR 733-0508
Keller Williams Realty AV Serving Palmdale, Lancaster in California
www.HomesByJR.com
www.ShortSaleByJR.com