I have the same problem and the same model. Had it serviced and still have this problem. I also have a strange smell inside mine. maybe something with the motor or something else. I purchased this machine and took out the foot to thread it and now my feed dog dropped down and I do not see a lever to raise the feed dog. Will look again tomorrow or when I have time.
If it is a mechanical machine (not computerized), it could be seizing due to old oil that has dried. Mechanical machines, especially sergers, need frequent and thorough oiling (interior moving parts) using a good quality sewing machine oil. Avoid trying to run the macchine until you can get it serviced or the motor could be damaged.
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may need cleaning. you should have it serviced
SOURCE: baby lock bl4 736d serger slows down and stops
I have the same problem with my second hand baby lock. I found this forum http://sewing.patternreview.com/SewingDiscussions/topic/34282 and the problem seems to be with the "brushes". And they are a $15 part. But you will have to pay for the labour also which someone said cost her about $100.
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