| Answer: You definitely want to address the mold, and yes it can cause a musty smell. Four things are  necessary for growth of normally found molds in construction materials.  Mold spores, which are everywhere. Temperatures in the range of 40-100  degrees F (that's why we refrigerate foods). A food source (organic  materials, such as wood and paper facing on drywall). Relative humidity  of 60% or greater or an active water source of 0.6. Certain species of  molds will thrive in different combinations of temperature and humidity  conditions. Some mold species will live on and consume other species as  conditions change. Some less common molds will thrive in conditions  radically different than those above (molds have been found in  Antarctica for example). Mold colonies will produce spores while they  are actively growing. When an organic building material is returned to  it's relatively normal state, such as having been dried to normal levels  of RH, mold growth ceases and the colony will become dormant. For short  periods, the colony may remain intact and can become active once again  if the material is again rewetted. If the colony remains dry it can  basically fall apart into its base components. These components can be a  source of allergic reactions to sensitive people, which is why mold  should not only be killed, but cleaned up. Undisturbed, the spores left  behind by the colony will generate new colonies if the supporting  material reaches a temperature/humidity level to promote growth.  That is a very brief  description of part of the life of a mold. There are thousands and  thousands of species of molds. Some are very uncommon, while others are  everywhere. All require an organic food source that we easily provide in  our homes and buildings.   
 One of the best products  you can get right now is Fiberlock Shockwave. You'll want to make sure  you have access to all parts of the inside of the unit. Spray anywhere  that you see visible mold, making sure that the affected areas remain  wet with the product for 7-10 minutes. You may want to employ an HVAC  guy to cut an access panel for you for future sprayings, as you will  most likely not be able to completely and permanently get rid of every  bit of mold, and the drip pan is an excellent breeding ground during the  summer when the AC coils drip on it daily.     Allow  the Shockwave to dry completely, then follow up with a 50/50 solution  of bleach and water. Someone recommended that the bleach treatment be  used first so that may be the better process to follow, but both are  effective. Scrub off any visible mold and mildew with a 3M scrub pad or  sponge and let dry completely.
   You  might also look into sealing any leaks in your returns that could draw  basement air into your system. Usually HVAC caulk and foil tape are  effective at the duct joints, but if you want a complete sealing  process, look into Aeroseal.
 Shockwave This is just a  Quat cleaner (with a mild fragrance added, and possibly a small amount  of a deodorant) and you can buy virtually the same thing for $4 a gallon  at Sam's club. It's called Sanitizer, and it will have the word Quat  listed in the ingredients.  Every janitorial supply store will have at least one Quat cleaner available.   For  that matter, you can even use regular Lysol or some kinds of Mr. Clean,  look at the labels, there are many of them that are Quats.
 Some have water soluble  deodorizers in them, which can help with odors, but in the case of mold,  aren't really what you want to do, as they don't really solve any  problems.  Diluted bleach really  works at least (if not better) as well as anything else, but is more  caustic, so if it is going to be used on a regular basis, the Quat  cleaner is much less damaging.  All disinfectants  rapidly lose there efficacy in the presence of organic contaminate. i.e.  Clean the surface as much as possible prior to attempting to disinfect. In my case, the entire  problem was caused only by a clogged condensation drain for my HVAC  unit. Once that got cleaned out and the coils were cleaned out,  everything was fine. Of course, I also don't have any drainage issues  around the foundation, nor are there any plumbing leaks--my crawlspace  is the most dry I've ever seen (and I do not have poly laid down). I am told that those  condensation drains should be cleaned out twice yearly. Mine is  particularly long (probably about 15 feet or so), and it doesn't have  much of a fall, so it's susceptible to clogging. "A Brief Guide to Mold, Moisture, and Your Home"                |