Bottom set facing river bet on dry board

[robinmasters]

playing $1/2 NL live at local casino. villain had been raising a huge range of hands regardless of position or limpers (Q6 [img]/images/graemlins/heart.gif[/img] 's UTG etc ) and had been playing every pot, in for $2 in for $40 if he hadnt raised. He was making very loose flop calls with 2nd and 3rd pair trying to hit his kickers when he was clearly behind. he had been running good for the past hour and built a nice stack when the following occured.

CO ($200)
BTN ($300)
SB ($600)
BB ($100)
UTG ($700)
Villian ($900)
MP ($150)
MP+1 ($150)
Hero ($317)
LP ($225)

Preflop Hero is dealt 4[img]/images/graemlins/spade.gif[/img] 4[img]/images/graemlins/club.gif[/img]
UTG calls $2, <font color="red">Villian raises to $12 </font>, MP+1 calls $12, Hero calls $12, 1 fold, CO calls, BTN calls. SB Calls, BB folds, UTG calls $10

Flop : ($84) A[img]/images/graemlins/heart.gif[/img], 5[img]/images/graemlins/spade.gif[/img], J[img]/images/graemlins/spade.gif[/img] (7 players)
everyone checks

Turn : ($84) 4[img]/images/graemlins/heart.gif[/img]
SB bets $20, UTG calls, Villian calls, MP+1 folds, <font color="red">Hero raises to $100 </font>, folds to UTG who calls as does Villian

River: ($404) 7[img]/images/graemlins/diamond.gif[/img] (3 players)
UTG checks, Villian bets $140, Hero calls, UTG folds

the river looked safe so when he insta bet $140 into me i was confused, i had seen him make similar bets with funky two pair on river in similar action pots but was positive he had a strong hand by looking at him and his bet screamed value. do i see better hands enough to make calling a mistake even given pot/bet size?. comments on all turn and river would be appreciated.

[flytrap]

You certainly played great until the river. How likely is UTG to overcall with, say, aces up if you just call? Will he call with a worse hand if you raise? You don't have much left compared to the pot, like $100 by just calling. I think calling might be right because of the overcall possibility, but heads up I think raising is right, since if you're wrong it's not that big a mistake, i.e. he can't reraise you a massive amount, since you were already all in for a modest amount.

[robinmasters]

I was sure that UTG was folding I think he just got dragged along with garbage or had a busted flush, so if i am raising its to get the extra $60ish out of villian, i like your idea for the overcall though in spots like this sometimes i think UTG calls with something like A7/4 or J7 (not sure he would have played any 2 pairs this slow) easier if i flat call rather than push river.