The `I Will Always Love You` singer is selling the luxury five-bedroom property - where she wed Bobby Brown in 1992 - in New Jersey for just $2.5 million, less than half its estimated worth of $5.6 million.
The 46-year-old singer - who currently lives in Los Angeles with daughter Bobbi after divorcing Bobby in 2007 - hasn`t lived in the house for some time.
During the last years of their marriage, Whitney and Bobby were based in Atlanta.
She nearly lost the house - which boasts a four-car garage, three fireplaces, walk-in closets, a bar and skylights and floor-to-ceiling windows - in 2006 after a combination of failing to pay taxes and her being sued for $1.04 million by her mortgage company. The lawsuit was eventually resolved.
Whitney is not the only star set to lose money on a property sale. British singer Robbie Williams is selling his lavish estate in Wiltshire, UK, for £1 million less than he paid for it.
After just eight months in England, the `Bodies` hitmaker and his girlfriend Ayda Field - who bought the 18th century Wiltshire house for £8.5 million in February - have slashed the estate`s price so they can get back to sunny Los Angeles as quickly as possible.
An insider said: "Robbie is desperate to get things moving quickly rather than hang around just to get a bit more money. Being settled back in the States quickly with Ayda is more important to him.
"He`s already got a few people interested in the mansion."