Small Engines (Lawn Mowers, etc.): Lawnmower pulley wont work, homedepot, lawnmower

Question
Would it cost much to get it fixed, or more importantly, can it be fixed?
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The text above is a follow-up to ...

-----Question-----
I've only had my lawnmower for 2 years - unfortunately only had a warranty for 12 months.  It started smoking really bad, so I shut it off.  I checked the oil and petrol and it all seemed fine.  Tried to start it up again and now the cord will not pull out, it's as if something is stopping it.
-----Answer-----
burned up.  froze.  there may have been a defect in engine from new?  or it was run on oil at one time causing harm to engine, and now finally quiting.

Answer
FIRST WE NEED TO DETERMIN >  WAS IT RUN LOW ON OIL? AND DID IT DO HARM TO ENGINE.  REMOVE SPARK PLUG. TURN MOWER ON SIDE, CAN YOU TURN ENGINE BY  GRABBING THE BLADE?  IF NOT>? I,D SAY  YOU HAVE A DEFINTE ENGINE PROBLEM.  TO REBUILD ENGINE> TO BE HONEST  ITS CHEAPER TO REPLACE ENGINE,  OR JUST REPLACE MOWER. SAYING LIKE AT HOMEDEPOT OR WALMART.