Mel B and Stephen Belafonte Slash Price on Hollywood Hills Home

There IS one thing Mel B and Stephen Belafonte agree on -- their Hollywood Hills home has gotta go, and the exes are knocking another half mil off the asking price to get it done.

TMZ has learned the house -- a 4-story, 4,631 sq. ft. contemporary beauty with 4 beds and 6 baths -- was taken off the market at the beginning of the year ... but was relisted for sale Thursday at $7,495,000.

Mel and Stephen originally put the pad on the market for $8.995 million just over a year ago, in the heat of their bitter divorce proceedings. A few weeks later they dropped it by a mil, but couldn't find a buyer.

We broke the story ... Belafonte claimed in December Mel B was making it extremely difficult for him to sell the house because she wouldn't let him inside to make repairs and stage it for a sale.

Now they're giving it another shot with the new $500k discount.