20th Jul 2015, 14:53
My first thought is that you have a front brake hose that has failed due to dry rot from being so old.
The next choice would be that the seal in one of the wheel cylinders blew out, in which case you should see brake fluid leaking out of one of the wheels, probably rear.
Finally, one of the metal brake lines may have rusted through at a pin hole rust point, as brake fluid retains moisture and lines can rust from the inside out. Just look for where the brake fluid is pooling on the ground under the car. There is no connection between the power steering system and power brake system.
20th Jul 2015, 11:14
Brake fluid, or PS fluid? Make sure you didn't develop a leak at the steering gear box, which will leak PS fluid and cause the symptoms that you're talking about, as these cars use the PS pump to also power the brakes.
It's called Hydroboost.
You'll usually see drops of PS fluid right underneath the driver's side area of the frame that might be soaking wet. Sometimes you can't even tell it's leaking.
I had similar problems, pedal went to the floor, but in my case, it was the master cylinder as brake fluid was leaking on the booster. Once replaced, the brakes went back to normal. Pretty common issue on these Lincolns.
Also as wonderful as these Lincolns are, there's so many vacuum lines that can develop leaks in the engine compartment and underneath the dash over time that will cause drivability and HVAC issues. It can be a pain in the butt to diagnose. So keep on eye on your vacuum lines!