I have a 2002 Toyota Camry v4 with ABS. When I turn right I hear a rubbing/grinding sound coming from the rear driver side wheel area. It doesn't happen all of the time. If I have been driving for more than 10 minutes it does happen a lot more. The sound stops when I put on the breaks. I believe that it might be the wheel bearings, but before I purchase that expensive part I would like to see what others think.

May be a wheel bearing and one can test this:  Raise vehicle and spin wheel while you hold your hand on the strut-spring.  If you feel a vibration and is different than the other, probaby is your wheel bearing.  Typically a wheel bearing will make noise when turning one way, and less or no noise when turning the other - doesn't have to be a sharp turn.  

I, however, suspect that (assuming its drum brakes and not rotors) that the springs holding the brake-pads on let go or something is in the drums - perhaps just corrosion or around the out lip of the drum where it contacts the backing plate - or the backing plate (Steel disk behind the drum) itself is rusted and bending into the brake drum, or perhaps you just need brake shoes.  Try putting on your E-brake but not too tight and move car back and forth several times, then put a little tighter and do again - this may cure the problem some, but sounds like you need rear brake adjustment or cleaning.
If it's a disk brake - check bearing in same way, or look for something rubbing on the inside of inner fender around wheel.
Good luck.
East Coast Canada Rocks!!!
:)