After finally meeting the woman of his dreams, a bumbling 54 year old must choose between this new romance or the tyrannical lady tied up in his basement he pretends is his wife.

I do not care about a man who has a woman tied up in his basement. That is not funny in any way.

Two things that might help?your story.

The first would address dpg's point: The woman isn't real. In fact, it would be the big reveal of the movie, the woman in the basement was a figment of his imagination the whole time.
Possibly the 'new' girlfriend goes down the basement and he tries to stop?her only nothing is there but a mannequin. (Or something?like that)

The other idea would be the opposite, she is real but she also nags him and never does what she is told. Now he has found a real girl and he tries to release her from his basement... and she refuses to go. She just won't leave.

"When he meets the woman of his dreams, a bumbling 54-year-old must figure out how to release the obstinant woman he has locked in the basement, without her going to the police."