Sorry, its a 1999 5.7L Suburban that I bought almost three weeks ago. Trying to take the best care of her that I can
Sounds to me like the front hub is going bad. On the 4wd's, the front wheel bearings are in a sealed hub assembly. I had to do these a few years ago on a newer GMC SUV. I think the design is very similar to what is on the 400 series trucks.
I bought the hubs at my local parts store, IIRC they were around $125 each. Probably can get them cheaper online; at the time, I didn't have that option.
To do this job yourself, you'll need a socket to fit the axle nut( mine was 35mm or 1 3/8", some trucks are 36mm) and a ratchet and breaker bar to get it loose. I think the torque on it is 150 ft/lbs.,so it's pretty tight.
If the mounting is the same as the 2006 GMC I worked on, there's 3 bolts that go through the spindle into the hub flange to hold it. These have 15mm heads; you'll need a 15mm 6 point socket, as short as possible, to get these. There's only a couple inches, if that much, room to fit the socket and a 3/8" drive ratchet between the back of the spindle and the axle CV joint.
You'll have to remove the brake caliper from the rotor, but not from the truck entirely. If you take the brake hose loose, you'll have to bleed the brakes to get air out of the system. The rotor should come off once the caliper isn't sitting on it.
The truck I worked on did the exact same thing that yours is doing. I replaced both hubs, at different times, and neither one took more than a couple hours. The big hurdle was having the right tools.
I also replaced the mounting bolts, they were about $6 each from the Chevy dealer parts department.
How did I know your Burb is a 4wd? Your avatar picture shows it has the later model aluminum wheels on it. Those are 6 lug, which on a 400 series truck ( or the square body trucks that preceded them) means it's a 4wd, since it is a 1500( half ton). There's a 6 lug light duty 2500 series, but only on the pickups.
Also, when you're reassembling the truck, use anti seize compound on the mounting bolts, and clean and lubricate the caliper sliding surfaces with brake lubricant grease ( it's super high temperature capable). If the calipers can't slide properly, the brakes will grab and pull to one side.
Hope this helps, and I haven't totally confused you.