I'm 5'7 and I weigh a tad under 210 now, I've lost 105 lbs.I'm still not slim but I've come a long way.OK I have to just come right out and say it. I still have a belly but it's really soft and mushy now, and I don't know how to tell how much of it is sill my (hopefully) dissapearing gut and how much is the dreaded skin... but this is not the most perplexing part of my 2 part problem... i still have Manboobs!!!! Yes I said it manboobs. They are not as big as they used to be but there are still there,someone was telling me that sometimes fat from that area never goes away and a lot of bodybuilders have surgery on their pecks to gake fat out from that area cause it is so hard to get rid of. PLEASE tell me I was talking to an ignorent fool because I look forward to the day that I am flatchested! has anyone gone through this yet?

There are a couple of misconceptions occurring here.

First, congrats on the fine work to date

I too have parts of my body that aren't "filled up" any longer, and appears to be loose skin. Time will tell if it shrinks over a long period.

On the bodybuilding ailment you describe, I'm sure you don't have gyno, which are hard deposits under the skin behind the nipple that have to be removed by surgery, and caused solely by aromitizing steroid use. Most likely, you just have soft tissue thats caused by too much Estrogen in your body. I have this as well.

When you are done dieting, there are 3 options for removal:
1. Liposuction
2. A topical product using Yohimbe (a couple of popular ones are Yohimburn and Lipoderm). These are available at most on-line nutrition stores.
3. An oral product called Nolvadex (originally a cancer drug for women). This is what bodybuilders use after a steroid cycle to prevent Estogen rebound. The guys with gyno would have forgotten to use a product like this. Its available as a "research compound" on a few nutrition sites, or from an offshore pharmacy, because you are supposed to have a prescription. A Doctor knowledgable in sports medicine can get you a script.

I would try the topical first (it is the least potent), and then go for Nolva.

I'm female, so that issue is fine for me to have, but my my boobs have shrunk quite a bit from losing weight and exercising. As Jerry said, the gynomastia you refer to in bodybuilders happens when using steroids. All of his suggestions are good ones I've heard suggested before for that issue. I also heard of some Avon product that helps sculpt fat. Forget the name though.

As you lose weight, depending on your age and level of physical activity, your skin should shrink back some. You just have to be patient, I have the loose skin problem in my tricep area, very frustrating, but sloooow progress. Hang in there, it'll happen!

is there any rumor that regular weight lifting with emphasis on the peck/chest area can take care of this problem?

It certainly helps if you build up particularly the upper chest (incline presses & flyes), but doesn't solve the problem.

Your question reminds me of a couple weeks ago my 15 year old son saw me without a shirt on and said " Dad your man titties are gone! ". I must admit that I use to be so embarrassed by them. I have been feeling so good lately that I didn't even notice they had gone.
I agree with Jerry M that the chest exercises can help a lot. I do a lot of presses and incline fly's as well.
Best of luck.