Depends on your age, gender, how obese you were, how long obese, your genes! Unless you are very lucky, or very young, you are going to have loose skin. Exercise can tone the underlying muscles but the skin won't snap back.
But better to be fit, active and healthy with loose skin than morbidly obese! You can always have plastic surgery! I haven't bothered because I am 63 and don't plan to wear a bikini! But if I were younger (and had money to soare), I would have skin removed from just about everywhere!
Highest 290, Banded - 248 Lowest 139 (too thin!). Comfort zone 155-165.
Happily banded since May 2006. Regain of 28lbs 2013-14. ALL GONE!
But some has returned! Up to 175, argh! Off we go again,
I'd rather having some sagging skin than the skin be full of excess weight like I was before surgery.
If sagging skin is a problem, Spandex or Slimpressions will be your friend.
I always like to tell people that i'd rather have saggy, living skin than firm skin in a casket. That's not to say that I'm happy with the sag, but I'm still alive to scowl at it.
YOUR results will vary with your age, ethnicity, length of time obese, etc. But here's a photo album of MY results, take a couple of years ago.