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Phase 2 is when borrowers with PMI will be able to refinance. I talked to B of A yesterday, they said I will not qualify until phase 2 which will begin in late June because of my PMI. I've googled 'making home affordable phase 2' extensively, it looks like they've been pushing back the phase 2 start date since March. So I will contact B of A in early July and see if phase 2 has begun.

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