The HAFA program gives homeowners the option of a short sale or a deed in lieu of a foreclosure in order to help them avoid a foreclosure proceeding. There are many homeowners who are unaware of this program and if they are running out of options, they should think about this. It is generally said that these options will not hurt your credit score as much. However, be aware that recently participants are seeing their credit score hurt just as much. So why do this instead of a foreclosure then? Because it could still be potentially seen in a more positive light by a future lender.