I was in a similar situation, I am 6'1" and went from 250 and 46in waist down to 170 and a 31" waist over about a year and a half.
I am now 240lbs, 36in waist, much more solid, and still have a bit of looseness.
but I am over 35 now, so that is against me.
had a fair amount of loose skin...