There are two causes I can think of. First, it's possible something broke in the swing-away mechanism--just wear wouldn't result in a sudden failure, I don't think.
The second is in the shift mechanism in the steering column. If that is original, or not rebuilt recently, wear in the shifter or gear detentes could keep the lever from moving far enough to release the swing away.
I'd crawl underneath to see the thing in action--it should be easy to spot where it's hanging up.
~Steve
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