Thank you for submitting a question to Manage My Life.
I am sorry you are having problems with your dryer.
You did not tell me where you measured the voltage black to red. I will assume you checked this at the heating element. Getting a reading of line voltage (126 AC) there indicates that either the heating element or the high limit thermostat is open. You should read 0 VAC on a closed circuit. If your meter will read ohms or continuity, take the wires off the heating element and ohm it. You should read approximately 8 to 12 ohms. Then read the thermostat, it should read closed (0 ohms). If your meter does not read continuity you can bypass the thermostat and try running a cycle. To bypass the thermostat,
unplug the dryer
and tape the 2 wires on the thermostat together. Make sure this will not touch anything. Plug the dryer back in and start a cycle. If the dryer heats you need a new thermostat, if not you need a new heating element.
Do not leave the thermostat bypassed, this is for testing only.
If you do not feel confident repairing this problem yourself, then you can have it repaired at your home by a Sears technician. Here is a link for the website:
Sears Home Services
Here is a link that you may use to view the parts list diagram and for parts purchases;
Sears Parts Direct
I hope this is helpful. If I may be of further assistance as more details become available, please reply to this post.
Thanks again for using Manage My Life.