I recently built a stereo "Two Button" Footswitch for my Peavey 5150. But the "Effects Loop" button is acting strange to say the least.

I wired two stomp switches to a Stereo Output Jack as shown on a diagram. The channel works fine, and switches on and off without incident. I connected the channel to Ring (Hot 2) and Ground, and I connected the Effects Loop switch to Tip (Hot 1) and Ground. I ran a Stereo cable from the box to the amp's footswitch in port and all should have worked, in theory.

Channel works great, but when I engage the Effects Loop, the most horrbile noise comes out of the amp. Its a loud buzzing, maybe a bit of thumping. If I disengage the effects loop button, the sound dissapates.

Any one have an Idea as to why?
1981 Gibson Les Paul Custom (Black Beauty)
1980 Marshall JMP 2204
I'm not sure if the 5150's switching is set up to complete a ground circuit, or if it completes a 6.3v AC circuit off the heaters.

If it's the second one, you are grounding your heaters. I don't know if it'd cause that noise, though.

I've got to go to class, but I'll come back to look at the schematic.

In the mean time, draw how you wired everything up on paint or post a link of the footswitch you built.
This is how I did the wiring

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The Ring point was wired and sodered straight to the ring itself, it had a wiring hole, and the Channel works just fine. The Loop on the other hand is the issue. When I stomp on the Loop to complete the cirit, I get a crazy loud noise, like an air horn, not a hiss, but a really loud air horn.
1981 Gibson Les Paul Custom (Black Beauty)
1980 Marshall JMP 2204