Brake failure on V50 2004 2.0 D

I recently had a very scary experience in a 2004 2.0D v50. The brakes totally failed the pedal went straight to the floor when I came to stop at some traffic lights. My mechanic then took a look and he said the master cylinder was fine and all the brakes were bleeding fine when pumped. He though it was the ABS module and they were so expensive that I purchased a second hand one from a volvo breakers. It still didn't work so he is sending it back as he thinks the part is not working. Has anyone else had the same problem? any help would be great because if the part comes back and he replaces it and its still not working then I am going to have to sell it for parts and I don't want to to do this as I really like the car, I have only had it a month and spent nearly £600 on it already.
 
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