50 Year Mortgage

A handful of lenders began offering fifty year mortgages according to CNN Money. It appears to me that the idea of a mortgage for half a century is kind of a sucker bet. First of all it would take forever to build equity since you would probably be paying interest for a decade and a half. Second, it appears that the mortgage rates are not fixed so your payment could go up. The emergence of these types of loans seem to point to the fact that the real estate market is perfect for a dude like me to buy a first house and thatI need to get off my ass and buy ad damn home! Of course I am still going to bullshit because I am a coward......