It could be that the m/c piston needs rebuilding...seals are worn/damaged so no compression of fluid, or corrosion has eaten away metal in crucial area. Either way, I would try flushing the entire system, noting the condition of the fluid. If clean and just clear...and silicone based DOT 5 is just old (should be purple). If DOT 3 or DOT 4 it should be pale honey clear...if brown or black, it has contamination from old seal "slough off", corrosion/oxidation deposits and water. Depending on how long it has been in low lying areas, it can cause local corrosion and metal galling. You may have to do the rebuilding of the calipers as well...perhaps even replacing the hoses and such...are all the rubber parts in there original?