Judge to Lindsay Lohan -- 'You're in the Home Stretch!'

Lindsay Lohan just got yet another rave review from Judge Stephanie Sautner during her probation progress report hearing this AM -- as Sautner proudly announced, "You're in the home stretch!"

Sautner was impressed -- that for the 3rd time in a row, Lindsay completed her required community service and therapy sessions.

Sautner gushed, "You seem to be getting your life back on track."

Lindsay has ONE MORE progress hearing set for March 29th -- by which date she must complete her final 14 days of community service at the L.A. County morgue, and 5 more therapy sessions.

If she stays on track, Lindsay will be placed on informal probation, meaning all she has to do is obey all laws.

Then again, that's been a tall order in the past.

TMZ obtained a copy of Lindsay's latest probation progress report ...and according to the document she still owes $3500 in community service fees related to the jewelry theft case. The original debt was $3900.

As for how Lindsay's been able to turn her life around -- her lawyer Shawn Holley shared an interesting theory with us on her way out of court today (below) ... and she might just be on to something ...