Co-signing a mortgage ?

I would like to co-sign a mortgage for my daughter and her husband because her husband has bad credit history but he has it all paid off now and owes nothing he has also been working at the same job for 9 years now and makes pretty good money. The house they are looking to buy is much less then our house. Me and my husband are willing to put our house on the line for them so that the bank would also be able to use our house as collateral but I am wondering.. has anyone done this? and will this work out for them as us as co-signers and using the house as collateral? We do have good credit and other assets as well. (I already know the risk factors involved so please just an answer to my questions, thanks!)

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