Take a look at this: http://www.thesimpledollar.com/2007/01/22/how-bad-of-a-deal-is-a-50-year-mortgage/
I knew that people were starting to look into 40 year mortgages, but 50??!! I understand that people want to have everything they want RIGHT NOW, but really. This is just sad. The fact that it only saves such a small amount of money but puts you in debt, pretty much for life, is sad. The only way I could see justifying that type of mortgage, would be if knew you were going to be selling or refinancing for a much better price or loan, quick. But even still, it probably wouldn’t be worth it.