Seems like it may not just be the motherboard sensor gone crazy. Using "cpu eat 'n' cool" I've got the temperature holding at 66. Not what I like it to be running at but good enough for this test. Hopefully when my uncle gets home we can find another fan to try.
I tried everything I could to avoid it but eventually I had to try to take off my heatsink and exactly what I feared happened. Had to order a new processor, motherboard, memory, and CPU.