basement insulating

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Moderator Post (s) for this thread: > Basement insulation by Billhart on 10/13/2007

I have read several articles on the subject with many different opinions on this. My first question is the vapor barrier. Many people do not believe it helps but instead causes more damage.

Currently my home has had some moisture in the basement but since has been fixed by treching outside the foundation walls. The foundation is block wall contruction with a oil based paint (of which was done by the previous homeowner).

I would like to begin insulating the basement before the full winter season arrives but am still unsure as the method to go about it. My main questions are whether I need to remove the oil paint? If I should install a vapor barrier? and whether to use foam or fiberglass insulation for the project?

Any suggestions with this would be appreciated