Financially embarrassed home — that place sold finally (2,3,3)
I believe the answer is:
in the red
'financially embarrassed' is the definition.
'home that place sold finally' is the wordplay.
'home' becomes 'in' ('he's home' can mean 'he's in').
'that place' becomes 'there' (I've seen this before**).
'finally' says to take the final letters.
The last letter of 'sold' is 'd'.
'in'+'there'+'d'='IN THE RED'
(Other definitions for in the red that I've seen before include "have no credit" , "needing cash injection" , "Indebted" , "Owing money, bank account overdrawn" , "Broke" .)