Usually I can get my answer by scouring the forum long enough but I haven't been able to find one this time around.

I have a 2001 LT 4WD 4DR. I was hearing a grinding noise from the back then my brake pedal decided to hit the floor when braking. A quick check revealed both rear calipers were seized AND the parking brake shoe was pressing on the inside of the hat and my brake line to the back had rotted. Both calipers, all 4 pads, both rotors, both brake hoses plus the brake line going to the back were replaced and I'm still hearing a grind coming from the back. Could I be correct in assuming that I'm hearing a bad rear axle bearing now that the brake grinding has been fixed? For the record, it doesn't feel sluggish upon acceleration anymore, the grind is more of a hum somewhat similar to a bad front wheel hub assembly, I do not smell brake, and the parking shoe has been removed for the time being and both the line and calipers were separate issues, pressure has been completely restored and there is no need for a new master cylinder. Please help if you can. Thanks!

 

I just went through the almost exact scenario. started off with seized
caliper on pass side, still noisy after replacing. Next new rotors/pads. (still noisy)
ended up replacing seal/bearing on driver side.
Check for leaking axle seal

 

Check your rear end fluid for metal shavings. These trucks are known for having weak rear ends. I actually just blew the spider gears out of my 01s rear end. I went with a Eaton posi unit and LOVE IT