Timothy Busfield -- former star of "The West Wing" -- is in a $1.25 million hole with his bank, according to new legal docs ... and if dude doesn't come up with the cash soon, he could lose his house.
TMZ has obtained documents filed with the California Recorder's Office -- which show Busfield defaulted on the mortgage for his Malibu pad -- and if he doesn't reach an agreement with the bank soon, they plan on auctioning off the home in early January.
According to the docs, the bank has already given Busfield several chances -- extending their foreclosure deadline once in September ... and then again earlier this month. Now, it seems the bank's patience has run out.
Busfield's rep had no comment.