I have a 97 civic with a d16y7. There has been a noise for a while which i have finally tracked down to being the timing belt rubbing on one of the water pump bolts. I tried taking off the tension and scooting the belt out further from it but it seems to work its way back once the car has been running. Has anyone else had this issue or have any ideas what to do about it ?

 

Is that a stock waterpump? If not it may not be the correct casting and makes the bolt "proud".

 

Belt should be able to clear everything with relative ease. Is the bolt loose? Did you see if it's torqued down to spec?