Smell and grinding

Recently my truck started making a weird grinding noise or almost squealing, and smoking, which produces an awful burning rubber smell that stays in my nose for a long time. It only recently started doing this after I went through a mud/water pit and got stuck. The truck was never turned off and it ran fine when pulled out of the pit, but it recently it started making this noise. Yes the truck was submerged all the way up to the trim line of the truck. It is a Lariat model so if you want to look up a picture to get a better idea. The water leaked into my cab. I had a foot of water in my cab, it was bad. But everything was fine for a about a week and then this started happening. Any ideas?