Hood latch cable in tact because there is visable movement of pre-latch mechanism but latch doesn't release.
Hood Latch will not release when hood release lever pulled on 1997 Toyota Camry
Have a friend push down on the hood while you pull the release cable and if that dosn't work try your local bodyshop, stop by and show them what its doing and how much they would charge to replace the cable http://www.parts.com/ has them for $19 to $21 plus shipping.
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I just had this problem on my chevy truck, my problem was that the spring had compressed and no longer pushed the hood up when unlatched. Hope your is that simple.