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I have a 01 SC 4x4 and had a similar problem. My problem was mostly at low speed braking in bumper to bumber traffic. I replaced all four rotors and pads on my truck and cured this effect.
A bouncing symptom while braking is probably the rear rotors. Or a slightly bent axle. Warped front rotors give you a shimmy/shake. Do you feel it in the pedal, steering wheel or the in the seat of your pants?
I have a '98 F-150 with 148,000 on it. I have had this problem on numerous occassions and the brakes have always been the problem for me. Once the drums or rotors have been turned or replaced the problem will go away.
if you determine the brakes are new and not the problem, then look at clearance in the front steering idler arm bushing that attaches to the frame. if the bushing is worn, then while braking, the nose dives down and the clearance lets the front wheels wobble side to side (alignment) and you will get the bouncing effect. normally you can feel the steering wheel wobble side to side as this happens.
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