Wet basements and fast dry polyurethane

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Hello all,

In my post a few days ago, I was asking about bubbles I was getting
while refinishing my oak doors. I've tracked the problem to a
'fast dry' polyurenthane I'd inadvertantly started using. I don't
know if it's common knowledge, but the 8 hour dry stuff is
in a whole different league than the cheap 3 hour dry, oil based
poly.

now on to my question. I've read previous posts regarding damp
basements, but I didn't find a clear answer that I was satisfied with.
I have some dampness in my basement, no visible water, but you
can run your finger along the bottom of the outside wall and
feel it after a good rain. My gutters drop into pipes
that I assume are supposed to take the water away, out
towards the front of my house below ground. I have about 6 feet between
my house and my neighbors'.

During the aforementioned good rain, the gutters overflow
very fast and water collects near the side of my house
from where I assume it leaks in. I've read the only
real solution is to dig up, seal, and regrade my house.

However, I'd like to know if it would be worth my time
and effort to redirect the water myself front and dump it
(8 feet or however far is deemed appropriate) in front
of the house. This is a solution I can implement now,
maybe in a few years as more money materializes, I can
have the outside dug up and sealed.

I'd like to know what you all think.

Thanks,

Gian in Chicago