The Rush Hour star, who received the bill in July 2010 after falling behind on payments from 2001 to 2006, shifted a residence in the state back in October for a little over $1m (£638,000), much less than the $1.5m (£957,000) he paid for it.
According to TMZ, Tucker has since organised a short sale on a luxury home in Lake County before the bank planned to foreclose it last month.
The house was sold for $2m (£1.2m), even though Tucker bought the property for $6m (£3.8m) in 2007 and allegedly owed $4.4m (£2.8m) on it before it was sold.
Tucker is reportedly in talks to star in a fourth instalment of the Friday franchise alongside Ice Cube.
He was also said to be considering a role in David O Russell's The Silver Linings Playbook, which also features Bradley Cooper and Jennifer Lawrence.