Join Date: Jul 2008
Location: Melbourne, Australia
Bikes: 2010 Giant Filter 1. 07/08 Apollo Independent.
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First check to make sure that, as others have mentioned, there isn't any issues with the cable.
Second, disconnect the quick release on the brakes (If not equipped with a quick release, loosen the cable), squeeze the brake so it touches the rim (as it would under normal braking) and let go, to see if the brake returns to its normal position without the cable attached. I'm thinking your problem might be in this area...If not, proceed.
Next step is to make sure the lever springs back into position. Personally I find it best to remove the cable from the lever at this point, just to make sure it doesn't get in the way (because it's still loose from step 2). Simply squeeze the lever and make sure it returns to the normal position, but the spring varies form lever to lever. On my M510 STI levers, for example, they are VERY springy and will snap back to their normal position pretty quickly. But most generic levers will spring back, but probably not with quite the "snap" that I just described.
Hopefully that should help out. If not, the credibility of my advice suffers