Are you sure you have ABS? It was a rather rare option on anything other than the SC...which was standard equipment. I'm only asking because I don't hear about anything other than a SC with ABS.
I know a fair amount about the Teves II ABS system. You don't have a
master cylinder, so it can fail. Has your ABS light and/or brake light been on for a while? If so, how long?
Here's a very common problem (just fixed it on mine, in fact)... You have a brake accumulator. If you look at where you fill your brake fluid, peer just behind it under the cowl. You should see a black ball. That is the accumulator. That is the device that stores the pressure for the brakes. It stores it upwards of 2600 psi, so there's quite a bit of pressure. There's an electric pump that charges the accumulator. In addition, theres a brake pressure switch. These function together as the switch turns on the pump and shuts it off. Easy enough there. The accumulator will break and will no longer be able to sustain a set pressure. It leaks down. Eventually it gets to the point of not holding the pressure at all and when that happens, the electric pump runs continuously. That causes the pump to heat up significantly. As a safety feature, Ford incorporated a thermal switch to shut the pump off if it got too hot. That would prevent premature pump failure. The problem though is that the accumulator can't hold the pressure and the pump is shut off (usually for 15 minutes or more) so you effectively have NO brakes. This has happened to me before. Then if you let it go long enough, the pressure switch can also fail, not allowing the pump to run at all, or to not let it shut off at all, (except for the thermal safety switch). Then, worst case is that the pump itself fails. So it all depends on how long you've let it go as to how bad it will be. The TEVES II system needs to be serviced IMMEDIATELY to prevent a huge cost later.
The accumulator can be found at a number of places online if that ends up being all that it is. It costs around $110 or so depending on where you get it. A couple vendors who sell it are
www.supercoupeperformance.com,
www.spinningwheels-sc.com or prior remanufacturing (don't remember their website right now). If it is more than the accumulator, then you will likely need a remanufactured unit. Those run roughly $650. And it's a lot of work to replace one...not so much on an LX/Sport as a SC, but still a lot of work.
Pay very close attention to what the pump is doing and reply back. I'll help all I can.