[frustrated husband]

I burnt my kids fav blanket and sheet set, the dryer has been sounding strange lately and it has been extremely hot. I checked the back and removed the hose, it is venting out alright. There is no lint but left some burnt/melted streaks. What could be the problem?

[denman]

Here is a link to your parts
Maytag DE407 Parts List

Sounds like it is time to open it up and give it a good overhaul
I would suspect that the heater coil is touching the case since neither your Cycling Thermostat or your High Limit Thermostat opened and it is unlikely the both would be no good. Check for a break and sagging and anything else that looks strange.

Here is a link to general info on dryers
Dryer Help Sections, repairing dryers, Kenmore, Whirlpool, Maytag, Inglis, GE, Frigidaire, White Westinghouse, Magic Chef, Norge, changing a 3 prong cord to a 4 prong cord, no heat, electric dryers, gas dryers, how to take apart my dryer, what can st

A good section is Magic Chef, Norge, etc dryer

Having a volt/ohm meter would be useful.

Check the heater first!!!
If you have a soldering gun remove the thermostat, hold the gun on the stats face, wait for the click and measure to make sure it opens.
Remove one wire from it while doing this prevents measuring an alternate path by mistake.
Remember to unplug the dryer!!!!

While you have it open check
Belts
Drum suspension
etc.
And give it a good cleaning