Put it in prospective, the 30 year mortgage was initiated by FDR, when average home prices were $7,500 to $8,000. When I bought my first house for $17,000, interest rates were higher than they are now so I used the 30 year mortgage to buy the house. Then when rates came down I refinanced to a 15 year mortgage and lowered my payment by a lot. So the 50 year mortgage may not be a bad idea for this day and age.
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