I'm in almost the same boat, SteR. I was up to 35-ish bodyfat in my early teens. lots of exercise in the summer before college and the summer after 1st year, got me down to 10-15% (no caliper access) with nasty fat distribution, and a kind of gross lower stomach.
now I'm at the cutting again, using a cycle of 4 days low-calorie, low-carb, and 1 day (controlled) refeed, which is also lifting day. also using a topical yohimbine product, on the lower stomach.
the good news is that that area is definitely shrinking.
I think my body is acting like I'm at a lower bf%, however. I need to refeed after 4 days, I absolutely can't hold out any longer. except for my abs/ lower back, I look like I'm at 7% or something. my arms, upper torso, neck, face, legs all look really really lean.
the topical yohimbine seems to be helping a lot, but any other suggestions about this type of situation would be cool. Is it possible that I developed larger-than-normal estrogenic fat deposits from being obese in the past?