I am 5' 4'' and I started off at 242 pounds. So far I am down 72 pounds. I've lost this weight over the past 15 months (I am 35). Right now I do not have any hanging skin - except my chest, and they just really look deflated. During this time, I made sure I kept my skin moisturized - usually once a day right after my shower. But lets face it, I don't have the skin of an 18 year old, so no hard body here!

Every person is different, so your milage may vary. I really don't think though that if you have a little hanging skin, that that should deter you from the many health benifits that losing weight will afford you.