The Situation -- I'm SORRY I Jacked the Handicapped Spot

The Situation is expressing some serious remorse for parking his Ferrari in a handicapped spot in NJ yesterday ... telling his inner circle he was simply in a rush to get to the bank before it closed.

TMZ spoke with sources extremely close to the "Jersey Shore" star who tell us Sitch is "very sorry" for taking the spot ... especially after learning about the TMZ video which shows a handicapped person who was forced to park further away from the bank.

One source tells us, "Sitch was in a rush to get to the bank before closing time because he is only in town for a few days -- and in his haste he did a sloppy parking job."

The source adds, "He understands that's not an excuse."

So, we gotta ask ...