I found a workaround to this issue for now. Basically, I took one of those DVI to HDMI converters and plugged the cable into the DVI port of my monitor instead of HDMI. So, I have an HDMI cable coming out of the laptop, then being converted to DVI on my monitor. The Intel HD no longer sees this as a digital TV and no longer runs at 59 HZ with the overscan issue.
For those of you who have the same problem and have an unused DVI port on your monitor, there are several ways to adapt this without spending much money. There are plenty of cables and converters to choose from if you look at buying one online. I cannot say this would work on any monitor but it did on mine. I have an HP 2709m which is a 27 inch LCD and have seen others referencing the same problem with an HP 2509m so I guess it would work on that one too. The one issue is if you only have one DVI port and need it, you will then need to convert DVI to HDMI to input that data. Unless you are using the same Intel HD graphics, it may work fine. Also, maybe this would also work without overscanning??? I don't know.
Anyway, I thought it was good to share this workaround.