"Based on a true story". First off, allow me to say this:

Ha ha ha ha ha ha ha!

So, this old house is haunted by a chick who likes to take her clothes off (now that's my kinda ghost) and a little girl who throws stuffed animals at people. The only way this haunting could be any less threatening is if the ghosts made the folks who own the place breakfast in bed and did their taxes for them. They decide to call in the cats from the TV show Sightings (played by people who aren't the cats from the TV show Sightings) anyway, but the main guy from the show thinks the whole thing's a joke - which it is - so all he does is smirk and make fun of everyone. How he maintains his composure when this dude says the ghost gave him a handjob is beyond me. Even he ends up being amazed by completely mundane shit though, my favorite being the rose that's burned on one side but not the other. "How could that have happened?" he asks. Yeah, it would take all the supernatural qualities of a $1.19 disposable lighter to pull off something like that.

The main problem with pretending that your ghost movie is a true story is that it can't be too out of control or even dumb people won't believe it anymore, which means you generally end up making a boring movie. On the other hand, if you actually buy into the whole thing you're doubly fucked: now you're a moron who makes boring movies. This flick isn't quite as sad as 5+ seasons of those losers from Ghost Hunters running around old buildings playing make-believe, but it's still pretty pathetic. File it under "weak".