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iTrader: (2)

I've noticed burning smell coming from under the rear of the car. It's not the same smell as the brakes, more of a rubber burning smell. Tranny fluid is good and not acting up. This happened awhile back and I recall the dealer saying it was the neutral seal. Can enyone tell me what this is? I'm going to put the car up on stands tomorrow and take a look. Any recommendations on what I should look for? Thanks.