Desperate director Jake Selling (Savage) has his next story all lined up but no money to pursue his ambitions until he crosses paths with B-movie producer Arnie Green (Wilder). They figure out the only way to raise money is to burn down Jake's house for the insurance. Only Jake's ex--actress Brenda Goodman (Baron)--catches the scam on film and demands to be in the movie. And the insurance investigator turns out to be a wannabe actor as well whom they may also have to placate.