A body has been found in the search for missing Whorouly woman Karen Chetcuti at the Buffalo Lake weir in Victoria’s east, Victoria Police say.

Police said they were yet to identify the body but believed it was Ms Chetcuti’s.

The body was found on Monday afternoon off Croppers Creek Road near Myrtleford about 1:35pm.

• Man arrested over Vic mum’s disappearance

Police have questioned the neighbour of Ms Chetcuti over her disappearance.

Michael Cardamone, 48, spent the night in custody after he was arrested in Ringwood in Melbourne’s east on Sunday morning.

No charges have been laid.

Ms Chetcuti, 49, a mother of two teenagers, was last seen at the Whorouly Hotel at 7.30pm on Tuesday.

Police found the lights on at her home, with her bag and purse inside.

Ms Chetcuti’s car was found burnt out in bush near Myrtleford on Thursday, sparking the search of the area.

Her 14 and 15-year-old children are staying with their father.

Lake Buffalo is a popular spot with boaties and anglers near Myrtleford.

-with AAP