What happened is your pads overheated and gave up the ghost. When you get the calipers too hot and there is water in the fluid (from being old stuff) then you boil the fluid.
Over heating the pads will deposit material on the rotors and eventually cause wobbling when braking and most people assume warped rotors.
Boiling the fluid will make the pedal soft and keep it that way until the fluid is flushed removing the air (caused by the boiling) and contaminated fluid which caused the problem in the first place.
Bottom line, get better pads and flush the brake fluid when you flush the cooling system every two years.
Over heating the pads will deposit material on the rotors and eventually cause wobbling when braking and most people assume warped rotors.
Boiling the fluid will make the pedal soft and keep it that way until the fluid is flushed removing the air (caused by the boiling) and contaminated fluid which caused the problem in the first place.
Bottom line, get better pads and flush the brake fluid when you flush the cooling system every two years.