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I have a '99 Ford Ranger XLT 2WD. I've been having this problem with my rear brakes locking up on me while slowing down and pressing the pedal to stop the forward movement. There are four components which could cause the problem. My OEM Ranger Repair Manual suggested to replace the Proportional Control Valve which I did however that did not correct the problem. I don't have the Brake nor the ABS Warning light coming on and they check out OK during the start up. I have no problems braking from any speed except when coming to a stop. I inspected my front disk and the rear shoe brakes and they seemed to look OK. The other components which could cause the problem are the Control Module, RABS valve and the Speed Sensor. My question is: If any of these components malfunction, shouldn't the ABS Warning Light come on?
I had that problem on my 99 when I first got it. I did a real good brake bleed and rebuilt the rear brakes, focusing specifically on any "movement" points, greased everything really good. It fixed the problem. I am suspecting that the "lockup" was a mechanical failure at the rear wheels and although the brake system might have been trying to say "DONT LOCK UP" it was doing it "outside" the systems control if that makes sense. Seemed to be worse first thing in the day too.
Dont know if that helps, but figured to throw it out there.
That possibility also came to my mind. The odd thing was that it does not lock up all the time. It will take several braking applications before it will lock up and only at the point when I slow down and I have to press on the pedal to stop the forward movement.