I would strongly recommend Andrew Greig's "When they laid bare" if you want to read a very atmospheric modern day Scottish Border tale, this story being woven around "The Twa Corbies" and "Barbera Allen".
The novel is set very much in the present, with plenty of dark foreboding, but makes constant reference to the Border Ballads at their phsycologically disturbing and blood thirsty best.
I remember a production being staged during Celtic Connections a couple of years ago which celebrated the ballads woven into the book.
Another plus is that, at his best Andrew Greig is a superb writer of contemporary Scottish fiction