My 50 year old ranch seems to shedding the cement type coating that is on the foundation . Its about an inch thick and is coming off in large pieces from the concrete foundation. Whats the correct term for this material? How and with what do I fix it or should I hire a professional? Love the show and try not to miss it. I listen on XM 158
Barb, it is called "parging" and what you describes is a fairly normal wear pattern. It can be worse if the home's gutters are clogged allowing water to hit the ground around the foundation perimeter and splash back up on to the wall.
The solution here is just to remove all the loose materials and re-parge (re-stucco) the house. You must use the correct materials for this however, you need to use a materials that will adhere well to the old foundation. Quikrete has a product called Concrete Resurfacer that looks like it'd do the trick.