Saving a wet carpet.

Don't just rip up your wet carpet. I found some tips at: http://www.stretcher.com/stories/02/02jan14a.cfm

Dealing with wet carpet, especially padding, is a situation that needs immediate response for health reasons. Once mold is present in the carpet and padding, the best advice is to discard these bacteria laden items. Mold can and will pose various respiratory illnesses. While one may feel frustrated at the cost of removing the floor coverings (especially the padding), in the long run you will be much better off.
The most important action taken in a flooding is to locate the source and act quickly to remove the water. Depending on the humidity, temperature, and dew point levels will determine how quickly mold will develop (24-36 hours in ideal conditions). Certain steps can greatly help to eliminate mold growth.

1. Lower the humidity and temperature with the use of many commercial floor fans and dehumidifiers, while setting A/C levels to coldest settings.
   
   
2. Tenting ones carpet to allow much needed airflow.
   
   

Spreading "Mule Team" Borax tends to slow and even kill mold spores, while being gentle on carpet fabric. The key is to act quickly making every effort to stop this hazard of mold in one's house.
Eric

Feel free to post more tips.