Pre-heat the oven to 350ºF.

Line a baking sheet with parchment paper.

In a medium bowl, mix together the flour, granulated and brown sugar, cinnamon and nutmeg powder.

Add the softened butter to the brown sugar mixture. Use a fork to cut the butter into the dry ingredients and mix them together.

Get the butter completely incorporated with the dry ingredients.

Transfer the streusel dough to the prepared pan. Bake in the oven for about 15 minutes, stirring a couple times in between.

Remove from the oven when the crumbs are golden brown.

Use a spatula to break the crumbs apart.

Set it aside to cool down.

Peel the peaches. You can use a peeler, or blanch them to remove the skins.

Wash the peaches and cut an X with a paring knife on the top part.

Place the peaches in boiling water for 1 to 2 minutes to easily remove the skin.

Slice one peach into thin slices and chop the other peach into small pieces.

Mix the sliced peaches with ⅛ teaspoon of nutmeg powder and ¼ teaspoon of cinnamon powder.

Mix the chopped peaches with the remaining nutmeg and cinnamon powder.

Spread butter all over a 12-cup bundt pan.

Sprinkle flour all over the pan, tapping it to spread evenly.

Lay the sliced peaches on the greased and floured bundt pan.

Add sugar and water to a saucepan and mix briefly. Place over medium-high heat.

Let the mixture come to a boil and reduce heat to medium.

Swirl the pan gently until the caramel reaches a light golden brown color.

Immediately pour the caramel over the peaches.

Pre-heat the oven to 350ºF.

In a large mixing bowl, whisk together the flour, baking powder, salt, and cinnamon.

Beat the butter for about 2 minutes, then add the granulated sugar and beat for an additional 2 minutes.

Add eggs one at a time, mixing until incorporated.

Add vanilla and mix.

Gradually add half of the dry ingredients, then mix in buttermilk.

Fold in the remaining dry ingredients until smooth.

Pour about ⅔ of the batter over the caramel and peaches.

Add diced peaches and spread about 1 cup of biscuit crumble on top.

Pour the remaining batter on top and smooth it out.

Spread another cup of biscuit crumble over the cake.

Tap the cake pan a few times before baking.

Bake for about 1 hour or until a toothpick comes out clean.

Cool for about 30 minutes before removing from the pan.

Beat cream cheese and butter for 1 minute.

Add powdered sugar and milk, beating until smooth.

Drizzle glaze over the cake or individual slices.