After reading posts in both volvospeed.com and brickboard.com I found that my 1999 V70 XC had all the symptoms of a faulty ABS control module: ABS/TRACS lights coming on simultaneously and sporadically (they’d be on one day and off the next).

Through the miracle of the internet, I found a retired Volvo technician who repairs Volvo ABS modules. His name is Victor Rocha and he lives in Los Angeles. Not only does he fix the modules, but he makes them better with the use of a microscope and hid high-tech tools.

He charges $130 to fix the modules. All you have to do is send it to him. He’s got a very useful website to explain how to remove the module. http://home.earthlink.net/~vicrocha/Volvo_Parts/Volvo_V70_ABS.htm

The good news is you can continue to drive your car after you remove the module and its associated fuses. The only drawback is that you loose your speedometer and tachometer functions (no big deal). I actually drove my car to his place to have the work done. I can say with confidence, he’s a pro. So, you can pay $500+ for a new module from a Volvo dealer, or you can get yours fixed and “reinforced” for $130 by Victor.

I can happily say I'm no longer a member of the ABS/TRACS light club... Thanks to Victor.