Hey...

i have a 1982 244 Dl and after getting it aligned the mechanic told me the problem was loose wheel bearing...which was causing the wheels to move around too much. Could he be right? My question is how long does it take for me to do this by myself and 2. will i need any special tools?

Any instructions woudl really help

Remove the center cap. It'll give you acces to a crown nut that is held in place with a cotter pin. Pull the pin and tighten the nut until the wheel starts binding on rotation. Back the nut up a bit so that the wheel rotates freely. Replace cotter pin and cap.

Of course, you'll need to push/squeeze the brake pads a bit into the caliper so that they don't rub against the rotor while you're checking for binding.
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1980 245 Canadian B21A with SU carb and M46 trans

When you readjust the torque on the wheel bearings, you should spin the wheel around and listen for a rumbley, gravel-ish sound of bad bearings. If they are loose, it's a good bet they are damaged. Replacing bearings is not difficult, and doesn't require any special tools.