PA allows the lender to pursue a deficiency judgment; there is a deadline for doing so (6 months).

And believe me this go around you walk on an investor loan your going to get a deficiency law suit.

But if there is a deficiency and a judgment is awarded against you, that may attach to all of your assets.

It is worth what others are worth in the market plus or minus any upgrades or deficiencies. 

.* try to get from the lender a waiver of deficiency, if you are in a state where the lender can pursue a deficiency judgment.* be aware of the foreclosure timeline and try to get the foreclosure sale delayed, as the SS progresses.

So the new owner wouldn't have their house encumbered, but old owner could still be pursued for the deficiency once the property was sold if it wasn't sold for the amount that was outstanding, which in your scenario, personal liability would be $100,000.

And in some states possibility a judgement against them for a deficiency. 

Depending on the laws in Georgia, they can come after you with a deficiency judgment. 

No, I am not doing my fiduciary duty to represent the seller if the bank will go after them for a deficiency as so often happens on junior liens.

If the property is upsidedown and the final sale price of the property could end up being less than the 1st & the 2nd combined, the second mortgage holder cannot sue for the balance, however, if the 2nd note holder is not foreclosing, he/she can get a court injunction to pay the loan in full and follow all the procedure of a consumer loan deficiency (Wages garnishment, seizure of other property etc) that of course depend on the individual state law.