One way to eliminate musty odors is to clean walls, floors and surfaces with a mildew killer, such as a solution of one part bleach to four parts warm water. You can also install dehumidifiers, which can help inhibit mold growth.
Another way to eliminate musty odors from the home is to find and address or dispose of the source, such as a moldy towel or damp shoes. Soaking fabric articles in color-safe bleach and washing them in the washing machine can neutralize odors. You should also discard old newspapers and cardboard, which can collect moisture and cause a musty smell. Certain household products, such as kitty litter, baking soda and charcoal briquettes absorb many odors, including those caused by mold.