I think if you lose the weight steadily loose skin shouldnt be too much of a problem. Low impact sports are best if you are trying to avoid injuries or have any at the moment that you dont want to make worse, like cycling or swimming.
i have a lot of weight to lose as well and at the moment I am trying to include lots of different ways to exercise, I started the couch to 5k, have an exercise bike at home and have free weights so I try to fit in some weight training for my arms and some workouts to build muscle on my abs. I'm not an expert but I think having some muscle -not bulky!! - will help with the loose skin issue!
Good luck lucinda! x