A friend of mine tried to do something similar a few years ago. I think that he used some very broad brush strokes in photoshop to use as an alpha channel for the eraser smears, and then used the “write on” effect in order to animate it. As far as the blurry/dusty component I think that he used something like this and then just animated a blur effect on it.
I wish I could offer more details but it’s been a few years since I took a look at that project. Hopefully this might give you a good starting point. Keep in mind though that there are so many great tutorials here, even if one doesn’t cover exactly what you want, it’s about taking the techniques from those tutorials and learning how to apply them and use them to get what you’re looking for.
Good luck, let us know how it turns out.