I too own a lincoln continental, I recenlty had the same problem and I found that the calipers were actually leaking ABS fluid all over my back tires, although it was never visible on the floor which is why I didnt find it earlier. U can buy a rebuild kit at kragen or auto parts for about $160 and it only takes about an hour to do. Hope that helps!
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Monday, August 13th, 2007 AT 7:14 PM