My 94 F-250 transfer case refuses to shift into neutral or low. Any wisdom?

might be the syncro's..... first thing that came to mind

Yes, definitely sounds like a problem inside the transfer case, as opposed to an electrical problem.

Turned out to be just a rusr-frozen shifter.  Appearantly its a common problem on early 90's fords.  A little 'negotiation' and lube took care of it.

glad to see it worked out

Hey buddy i have the same truck. i have been having problems with my trasfer case. one ? for you when you try to put it into x4 do you hear any grinding ?  cuz i thought my transfer case was fucked but ther is a senser near the top of the case with two wires coming out. work back from the case fallow the wires to your fuse pannel under your hood check that its geting power. if you got power to ur case then prob your linkedg inside ur case

every time that happens to one of our vehicals its just that the trani needed flushed out and problem solved/ with a new filter