Stephon Marbury -- NYC Condo Teetering on Brink of Foreclosure

Stephon Marbury's about to lose his SECOND home due to foreclosure, at least if his bank gets its way ... because the former NBA star has allegedly failed to pay his mortgage yet again.

U.S. Bank International filed legal docs against Marbury, claiming he hasn't made mortgage payments on his 2-bedroom 2-bathroom NYC condo since March 2010, and currently owes $844,035 on the property ... which he purchased in 2006 for more than a million dollars.

U.S. Bank wants Marbury to pay the full amount NOW, or get the hell out ... so the condo can be sold at auction.

It's the second time a foreclosure action has been brought against Marbury since he left to play pro basketball in China -- just last year he lost his L.A. home at a foreclosure auction.