Faracy was born in Brooklyn, New York. One of her earliest notable roles was as Mary Carson's servant (and later the Cleary family) "Judy", in the 1983 television mini-series The Thorn Birds. For years, 1920s beauty pagent winner Judy has had a crush on Father Ralph, played by Richard Chamberlain. She realizes that the Catholic priest is interested in Mary Carson's very young niece, Meggie Cleary (Sydney Penny) instead. Years later, Judy turns her attention to a sheep shearer named Luke O'Neil, played by Bryan Brown. Instead, a now grown-up Meggie (Rachel Ward) eventually marries Luke (the couple married in real life as well in 1983). Thirty-years later, Father Ralph returns to the Cleary estate to find that the once stunning Judy is still a lonely servant who has now lost her good looks.
Faracy also appeared with Frankie Faison and Nancy Walker in True Colors (1990–92), a series about an interracial marriage, most notable for the presence of Walker, who died towards the end of the show's run. She co-starred with John Candy and Dan Aykroyd in the 1988 comedy The Great Outdoors. In late 2007 she played Rosemary Tanen, Amanda Tanen's mother on Ugly Betty.