What condition are the walls in ? Do you have moisture problem? Is there mildew on the walls ?

There are no mildew problems, and there isn't a moisture problem. The walls are in fine condition.
Kelly

You should check to see if the walls are painted with latex or oil based paint. You can do this by putting some GOOF OFF on a rag and lightly rubbing the paint and if it softens the paint it is latex and if not it is oil based. Once you find out what you have on the walls now you can just repaint them with finish of your choice in that type of paint. If the walls are in latex now a good choice would be one of the bathrrom paints that has a built in mildewcide as basements are prime areas for mildew.