The economy has been tough on many people trying to pay their mortgage. Almost overnight a family home can turn into bank property.
But a KOTA Territory bank looks to turn the negative of a foreclosure into an opportunity for another family.
Saturday, Wells Fargo Bank hosted a ribbon cutting at 716 Willsie Avenue in Rapid City.
The bank owned the foreclosed, condemned house for a number of years.
After having difficulty selling it, they decided to donate it to Dakota Home Resources, a nonprofit group that assists in providing safe, affordable housing.
A local contractor will demolish the structure, and another home will be built here.
"This is a great opportunity for some family to come in and get a low interest rate loan to be able to have a house to live in," said Steve Conzet from Wells Fargo.
Conzet estimates construction will take six months, and the house should be ready by the fall.