Drying out your phone is the worst thing you can do to it. DO NOT put it in rice and DO NOT try to dry it out. The best think you can do is put it in 91% Isoproyl alcohol. It will destroy your screen but it will save your data. If you wait until the water drys you have waited too long as corrosion will probably have already taken place. If the water has dried the best thing you can do is find a repair shop that specializes in board repair as they can desolder the shields and run it through a good ultrasonic cleaner and replace components on the board as necessary.