Mushrooms growing in your walls is a sign of a serious moisture problem. Unless you identify the source of the problem and fix it, fungicide will never permanently fix the problem. Moisture in the walls most commonly comes from a problem with the siding or the roof. Remember that the source of the problem often comes from somewhere above where the mushrooms are growing, as the water has trickled down. Once you locate the source, be sure to repair it immediately so that the fungicide can work effectively.
There are several brands and types of commercially available fungicide. Some contain a liquid form of copper, while others contain biodegradable fatty acids. You may need to try both types to see which one is effective on the type of mushroom growing in your wall. Either way, be sure to wear gloves and a mask. Remove the parts of the mushroom you can see, then apply the fungicide according to the manufacturers directions.
As a precautionary measure, after you have applied the fungicide, you will need to spray as much of the moist area as possible with a fungicide that prevents future growth of fungi and mold. This prevents more mushrooms from growing. Look for a product that contains borate salt as the active ingredient.
Mushrooms often take root in moist wood and feed on it. Therefore, after you have pinpointed the source of the moisture and applied the proper fungicide, be sure to have your home inspected for any structural damage that the mushrooms may have caused to rafters, floor supports and load-bearing walls. Also, be aware that some mushrooms release spores into the air that can cause health concerns.