Hello Steve. Here is one of many youtube videos on starter rope replacement. Rope is cheap and you would be better off replacing the rope now instead of later. If you have that much slack in the rope, odds are pretty good that the recoil spring may have snapped. There are also videos showing how to replace a broken spring. Good luck, let us know what you find.
How To Fix a Broken Starter Rope in a LawnMower or Other Engines - YouTube
