Originally Posted by spork

I had this exact same problem happen to me a few years ago. The problem with mine is that the cable had seized up inside the steel tube that it runs through near the backside of the hub. I had to disconnect the cable and use some penetrating oil and clear out all the rust and junk that had accumulated in there. The rubber boot near where the cable connects was completely worn out and had a hole in it, so basically road salt, sand, rust, etc had been able to get inside. After about 20 minutes of working the cable back and forth through the steel tube, it was moving freely again and the parking brake was working as normal.