I've lost 100 lbs and I still have about 15 to lose. When I first started seeing loose skin, I was worried that I'd end up looking like crap. But the more weight I lose, the better it gets.
I've read that it's not really the skin but the fat that gives that appearance. Empty skin is as thin as the skin under your eyelids. The skin that you grab elsewhere, is actually fat. Apparently, if you end up with less than 20% fat, you won't have any of it. I can't say that it's true or that I'm willing to lose enough weight to see it but my progress so far seems to support that theory.