PARKING BRAKE WILL NOT APPLY 2002 Lincoln LSE V8 1st Gen

[AmsterDutch]

CONDITIONS DETAILS/RESULTS/ACTIONS A1 CHECK THE PARKING BRAKE CABLE At the parking brake cable equalizer pull the parking brake rear cable and conduit forward. z Can the parking brake be operated?
Yes
REPAIR the binding condition in the front parking brake cable and conduit or the parking brake control. TEST the system for normal operation.
Okay so I can pull my parking brake in the up position ...but the parking brake handle by the center console DOES NOT STAY UP OR LOCK THE BACK BRAKE CALIPERS...
My question is what is not locking properly in the parking brake handle mechanism? I can see the cable move when I pull the handle up but the silver button on the handle doesnt seem to function properly and/or something in the handle isn't locking? If anyone has done work on the 1st Gen Parking brake and knows what is going on I'm all ears...Thanks
FWIW the parking brake was working fine and today it decided not operate

 

[AmsterDutch]

As far as the lever not staying up... would the ratchet mechanism be broken?... would it be in my best interest to just buy a used one from the boneyard?

 

[AmsterDutch]

and from your description it sounds like the ratchet pawl in the lever arm is no longer working...or the button release/rod on the end of the arm is malfunctioning.

I think this is my problem