I agree with 94ED_Fairmont, get it diagnosed and the error code will tell you exactly what is wrong, or where to start anyway.
Had mine done recently after the ABS sensor on the rear left decided to break in half ($300) only to find the light hasn't gone out, went and got it plugged in, and what do you know... the report tells me it's the rear right that's having a problem. Fingers crossed I don't need to buy another.
I have a similar problem, and was told by a dealer to clean or replace the abs speed sensor, which he said was on the rear axle housing, but I can't find it. Does any know where this sensor is on a 2000 F150 XL 2WD with rwabs
Usually the sensor is located near the brake caliper and behind the brake rotor (on disc brake cars) - I don't think it is very common to have ABS with drum brakes (?).
On my Fairmont, if I take the caliper off and look behind the rotor there is the sensor which can be removed, the sensor runs a wheel on a grovved or teethed track which can only be seen by removing the rotor itself.
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