EntoMan,
Welcome to the forum and thank you for joining..............
In Georgia lender can seek a deficiency judgement
Georgia Foreclosure Law
A foreclosure will eliminate the junior liens for the primary lien holder (investor) through the foreclosure...................that doesn't apply to or eliminate the debt owed by the homeowner ............the homeowner would still be obligated on the deficiency between what the property sold for in foreclosure and what was owed on the property in states that are recourse states and allow for deficiency judgements.
In Georgia the statute of limitation on enforcing that judgement looks like it can be at least six years.........so they can come after you at any point in time up to that time and possibly beyond if they are able to renew the judgement............
After a creditor wins a lawsuit against a debtor and is awarded a judgment by the court, there is a time limit for collecting that judgment. However, many states allow judgments to be renewed one or more times, which could substantially extend the enforceability of a judgment, if the creditor is vigilant about the renewals. This can potentially result in a permanent legal obligation until it is paid.
The best thing that you can do is to consult with a real estate/foreclosure attorney that is familiar with debt collection practices and judgements in your state to let you know the process and what you are facing as a result of foreclosure in Georgia and to answer your questions.