no timing belt, its a timing chain. and yes you can stretch a chain, although its not easy.
even when you line up the timing marks and everything, after some rotations those marks will not line up again for a while, many more rotations, but like said above, as long as they were assembled correctly the first time.
follow the troubleshoot for the p1111 in the fsm, make sure youre reading the qr25de section, not the qg18de sections. you can go check your solenoid, if the solenoid is good then i would question electrical connections/wiring and the internals. the loud screech is probably your belt, make sure your belt is spinning when the motor is running. otherwise it could be like your power steering or something, make sure the fluid and stuff is filled up.