If you’ve read about The Home Affordable Foreclosure Alternatives program (HAFA) and wondered what it could do for you, here’s the scoop.

HAFA allows homeowners to surrender their homes without going into foreclosure. The program is for homeowners struggling to make payments, although even if you are still making payments you can qualify.

The incentives the federal government is offering: up to $3,000 to help sellers relocate; $1,500 to servicers that offer the HAFA program to borrowers; a matching credit for junior or second-lien holders of $6,000 that must be allowed by the first lien holder (the federal government will cover $2,000).

Homeowners benefit from HAFA because they can initiate a short sale without going through a loan modification, or without missing payments. It won’t scar a homeowner’s credit in the way a foreclosure can. A Realtor can initiate the short sale for the homeowner.

Read more about the Home Affordable Foreclosure Alternative—and get the forms—here.