I pull the E-Brake all the way up and it won't hold. Is this a sign I need new rear brakes or just adjust the E-Brake
either those two, or your cable snapped.
i wouldnt say snapped but its stretched too much to hold any tension.
first thing i would do is take off the rear drums and on the bottom of the drum setup should be a little spindle. turn that to tighten the cable. if that doesnt work, you may need a new cable.