I am going to attempt the repair this weekend. In the meantime I disconnected the cable from each rear caliper, which allows you to drive the car without the rear brakes dragging. Just park on a relatively flat surface till its fixed.
I can tell you that the problem is usually in the two cables that go from the equalizer to the rear wheels, and that the cable from the lever to the equalizer is usually not the problem. That makes for an easier repair than having to replace the front section of the cable.
The repair involves supporting the rear of the vehicle on jackstands or ramps, you have to detach the rubber hangers that support the exhaust pipes and let them hang to create some room to work (using a jackstand to support the pipes), you also have to remove a heat shield to make room, and then remove the old cables and put the new ones in place.
The cables are available at aftermarket stores like Autozone for about $35. Ford has a specially designed replacement cable set for about $55. I got the one from Ford.
If you want, I can get the Ford or Autozone part # for you. I can also mail you the instructions from the Haynes Manual. I know what it's like to be in college, though sometimes I feel like a poor college graduate.
