I reinstalled the game and tried once again to update patch release 7 and it didn't work. So I found this post online that allows the patch to be done manually (some what).
Link: http://www.mediafire.com/download/on51nqo8i6xxanx/GTAIV_1.0.7.0_Patch.exe
Run the .exe folder, select the Directory of GTA IV (F:ProgramsRockstar GamesGrand Theft Auto IV)
Hit extract, and then when you get "Overwrite Files", click "Yes for All".
Thank you for everyone that tried to help!