BREAKING: Atlanta Housewives RE-HIRE Phaedra . . . Gave Her PEACH BACK!!

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MTO News has confirmed that Phaedra Parks is returning to the new season of the Atlanta Housewives - and she's got a PEACH TOO. The news of Phaedra's return was sent out on MONDAY - as producers FINALIZED the cast of the new season.

Here's what went down. This week Atlanta Housewives producers had to FINALIZE the cast. The producers had already guaranteed a peach to Nene, Porsha, Kandi, Cynthia, Marlo and  Kandi. They were expected to be giving a peach to newest arrival Eva. But after shooting HOURS of footage, producers were NOT happy with the footage - not enough DRAMA. They were especially UNHAPPY with Eva's scenes.

So the producers made the UNORTHODOX decision . . . of giving Phaedra Parks her peach back. As MTO News explained, Phaedra was scheduled to just be a "friend of the show" . . . but they UPGRADED her status - and she got her peach back.

So far the scenes with Phaedra in them, we're told, have been the MOST INTERESTING ONES SHOT SO FAR.

Eva has now been demoted to a "friend of the show."

But not everything is ALL back to normal for Phaedra. MTO News learned that Phaedra is making SUBSTANTIALLY LESS than she made in previous season. The insider told MTO News, "She's making HALF what she made in previous seasons."

And what about Kenya? Well, our insider told us. Kenya's OUT for now . . . but there is still an open negotiation.

And just in case you have ANY DOUBT of this report . . . Here's Phaedra CONFIRMING her peach: