Have you had a roofer in to do permanent repairs to the roof first? Do it now! Hidden water damage is a house’s worst enemy.

To resurface- Scrape the walls to remove all displaced paint and wall finish. Trowel on joint compound in thin layers to level area. Fine sand so that there is no obvious projection of compound. Buy orange peel paint texture to spray a new finish. The water based is more forgiving to work with. Test the spray on cardboard or other disposable item. Lightly spray over filled in area, blending with adjoining area. Let dry, then repaint.

Read product directions, and comments from product reviewers. The oil based smells like hell, but is a tougher finish. The water based is forgiving. Hate it, it will scrub off. . . .

Too tough- buy a large framed poster. Good luck!

Maybe Kathy has a better eye - or screen - than I do, but I don't see an orange peel finish on your walls, so don't use that that product if your walls are smooth. I would use primer before applying joint compound. The experts here seem to like Guardz.

not a better primer than gardz for that situation

Be sure that the drywall is dry before attempting a repair.

I dont see orangepeel either. Scrape it good, and prime it with guardz
and then mud over it and sand smooth. Primer before painting. If you
are not good with patching sheetrock, you may want to hire someone.
Make sure the leak is fixed first, or it will happen all over again

++ on Gardz first. Gardz will lock down the fuzzy paper.

First find out how the water got in I don’t see orange peel surface either but you need to remove all that stuff wait for the drywall to completely dry out then refinish the wall with drywall compund and paint the whole wall.

Thanks, everyone.

First of all, yes, the roofers did resolve the problem.

Second of all, 3 or 4 days passed and then I discovered more paint ripples and under that, there was more wetness, of course.

Now I'm a bit worried.

Please look at the pics and tell me if that is mold on the wall. If so, what should I do?

plus it looks like you have several layers of wall surface, which will make simple patching difficult if not impossible.

Joe, when you saw "rip it out", what do you mean? Can I just scratch off the mold and resume?

Cut out the ruined drywall.

^

It looks very much like you have more damage there now, than you can do by just a repair. Go to the top and score the wall covering, along the ceiling, in a nice straight line, and then remove that whole section. Once done, put in a new piece of sheetrock (right thickness), tape it, and mud it, (usually 3 coats), and sand it, and prime it and then paint the whole thing. If you really have not done this before, you might want to get someone to do it, and watch carefully, so next time, you will know exactly what to do.