Lane Kiffin could lose his house to USC (yet another bad house deal)

USC didn't just take Lane Kiffin's dignity, the university might also be in a position to take his house ... TMZ has learned.

We broke the story ... after Lane accepted the head coaching job at the University of Southern California in 2010, the school agreed to loan him $500k to use toward the purchase of a $5.5 million mansion in Manhattan Beach, CA.

But there was a catch ... under the terms of the deal, if Lane got fired or quit during the life of the loan, USC could demand the $500k back, plus interest STAT ... and if he didn't pay up, SC could foreclose.

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what a fool. as unpredictable of how long a head coach's career can last with the turnover rate being extremely high, why in the hell would he purchase a $5.5M house? I know that he has made good money in recent years and his salary was reportedly around the $2-2.5M mark, but come on. I guess that money hungry wife of his was behind it. I give it 2 years tops until she divorces him and takes what is left.

also for those who don't remember, this isn't the first time he has made a foolish decision with house buying -




Lane Kiffin takes over a $600k loss (on his house)



As if the NCAA sanctions and sub-par season weren't enough to mar his debut at USC, Lane Kiffin didn't exactly make a killing when he sold his Knoxville home this month.

According to a deed on file with the county, Kiffin and his wife, Layla, sold the property on Tooles Bend Road for $1.96 million, in a deal that closed on Jan. 14. The couple bought the property in May, 2009, for $2.6 million.

Kiffin, of course, replaced Phillip Fulmer as the University of Tennessee's football coach, compiled a 7-6 record in the 2009 season, then skedaddled to the University of Southern California.

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