Your beer will be okay fermenting at 44 provided you pitch a yeast strain that will tolerate cold and use proper pitching rates. As someone else suggested, you may want to get a temperature controller that will keep your fridge above 44 even if your fridge thermostat won't let it go any warmer. As an aside, if your ambient temperature is 44 the actual fermentation temperature will be at least a few degrees warmer.
I've used Wyeast 2124/Saflager W-34/70 (same strain) that cold and it's performed well. I know others have used it very cold as well. Plus I have used it with good results in bocks. The key to getting a yeast strain to work at that temperature will be to make sure your pitching rate is adequate--at least 1.5 million cells per millilitre per degree Plato.
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