Dear Peg,
If you get a workable answer to your question, I need it too! Tried to leave a comment at your gallery (good job lady! I'm just starting and hope I can follow in your footsteps!), but wasn't allowed to post, so I came back here.
The problem is that even when the weight is lost (so they tell me) those fat cells are still lurking around (although flattened out I guess) waiting for a refill. Don't know the answer about the skin - know for sure the facial wrinkles look way worse as the weight comes off (I've lost the same 40 pounds so many times I can even begin to count!), but at age 57 I find I'm not caring as much about it as I did at age 37 - I just want to be able to cut my toenails again without huffing and puffing!
And I figure that in a year or so I'd better be ready to chase my new grandson around a little too!
Keep up the good work, and let me know what you do about the loose skin!