Absolutely do not use the "towel trick." Wrapping the console in towels to overheat it is a dangerous myth that permanently damages the GPU/CPU solder balls (BGA), warps the motherboard, and creates fire hazard.
Before any repair: Extract saves via Xplorer360 (PC + transfer cable) or FTP (if RGH/JTAG). Saves are on HDD, not NAND.
Bottom line: Towel trick = guaranteed death. Pro reflow or replacement are the only real fixes.