there is also a way to do this for cloudformation. look up cloudformer.
That said, I don't think CloudFormer does the same thing. I haven't used it before, so please correct me if I'm wrong, but to me it looks like it takes existing resources and generates a CloudFormation template out of them. But then you're still expected to upload that template and create a new stack, with all brand-new CloudFormation managed resources—is that right?
So for example, CloudFormer for an RDS instance would probably be a no-go.
In the Terraform case, after you've imported resources, there's no need to re-create them. There's the question of if what's in the template will match what the resources actually are, but there are also tools to generate Terraform templates straight off resources.