A loud squeaking noise from your dryer often means the belt that encircles the drum is starting to slip, which creates a tension differential that causes the squeak. It happens when the belt loses its elasticity and starts to harden. Eventually, you will have to replace the belt, but you can put off that chore for awhile by simply applying belt dressing. This light, spray-on adhesive helps the belt adhere to the drum. Most Hotpoint models disassemble in the same manner, but check your owners' manual to be sure.
Unplug the dryer. Loosen the screw heads that are on the inside of the opening where the door is, front facing up. Remove the top panel.
Reach down inside the open dryer, loosen the screws that hold the front panel in place and remove the front panel. The dryer's drum should be completely exposed.
Locate the rubber belt encircling the drum. Trace it to where it threads through the motor. Mark with your chalk on the drum at the point where the belt lifts off the drum to go into the motor.
Slowly turn the drum. As it turns, spray belt dressing onto the back of the belt at the point where it lifts off the drum.
Continue turning the drum and spraying the back side of the belt until the chalk mark that you made comes back around.
Reassemble the housing of the dryer, replacing all of the screws where they were originally. Plug the dryer in and test for the noise.
Never work on any electrical appliance without unplugging it first.