Jermaine Dupri Barely Rescues Atlanta Mansion from Foreclosure

Jermaine Dupri's giant Atlanta home is safe ... for now -- because the music producer successfully rescued the place from foreclosure auction this week, after allegedly failing to pay $193,000 in mortgage debt.

Dupri's home was scheduled for auction September 4th -- after Dupri's bank claimed the rapper failed missed $193,404 in payments on his mortgage.

Dupri filed an emergency motion in response, asking the court to block the auction, claiming he only owed $89,901 ... and he paid the bill in full by the time he filed the motion.

The house was yanked from the auction at the last minute.