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It's hard, for sure, to say much about this from 'here'. The best thing to do is get a couple of estimates from contractors that specialize in Foundation Repair. YOu can ask your Municipal Inspector for leads, or talk to the Municipal Engineer. Other than that, talk to other owners that have NEW foundations. (Just drive around the neighborhood.)
In short, it would involve temporarily jacking up the house and removing the existing wall, and pouring the new one. Talk to the contractor about installing a Foundation Drain (possibly along w/a sump pump w/battery backup.) Hopefully, you have good slopage that slopes AWAY from the house to keep water out. And that you have gutters and downspouts where they should be, and in working order (and not over-flowing or under-flowing.) The same for your downspouts.
My best to ya and hope this helps.
Jay J -Moderator
PS: When you get your estimate, and if it's a doeable 'thought', consider having concrete poured in the basement as well. I'm sure it will add value to the home (or at least it's potential.) If you do this, talk about a center-floor drain or a corner drain for possible water (if water is a problem at your house ...)