If your parking brake isn't working correctly, it's almost certainly due to one of these issues, and requires professional attention:
* Worn brake shoes: The parking brake shoes themselves may be worn out and need replacement.
* Worn or damaged cables: The internal cables connecting the parking brake lever to the rear calipers can stretch, break, or become corroded.
* Calipers seizing or malfunctioning: A problem with the rear calipers can interfere with parking brake operation.
* Low brake fluid: While less likely to directly affect the parking brake, low brake fluid can point to a larger brake system issue that should be addressed.
In short: Don't attempt to adjust it yourself. Take your Mustang to a qualified mechanic or brake specialist to diagnose and fix the problem. Improperly attempting to adjust or repair the parking brake system can be dangerous.