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The axle shaft itself will not make noise like that
The bearings will
Pull the hub off and the bearings out
You'll, find your problem there
You would have already lost the wheels if the lugs were loose and the wheels not seated
Found the problem!!! Unfortunately I’ve been trying to figure out some other issues and just now got around to this one.
Ended up being the guy before me didn’t have the dimple into the drum seated all the way but went ahead and cranked down on it…. Doing that he bent BOTH wheels. I took them off, heated it, hit it but ended up grinding it with a dull flap wheel to get it almost perfect.
Good job
Tear down and inspect they call it, along with a good visual inspection
That dimple? Is it a 1/4 inch roll pin? Sticks out an inch and is seated in the axle itself?
Then the drum and both wheels index to it
If someone didn't see it and cranked the wheels on, It will push the roll pin into the backing plate area
Check that backside of the axle? See if the roll pin is pushed in too far