I've lost 30 lb in total so far, and haven't suffered from loose skin. But I've been taking it steadily, and moisturising religiously. A lot is down to genetics as well, I think. Some people will suffer, some won't.

Think you need to exercise whilst dieting, and although you might initially have a big loss, aim for just a couple pounds a week . Then hopefully no or little loose skin.

Don't be old!
(At 38 you are much better off losing it now not later. Wish I hadn't waited until my 50's to lose my flab.)

Don't lose weight too fast, you want to give your skin a chance to keep up.

Do everything you can to lose as much as possible from fat rather than lean mass (you will look much better for the same end weight). Small deficit, adequate protein, resistance/strength training.

Choose your parents wisely to give yourself good genetics as regards skin elasticity. Joking, but genetics do make a huge difference to the final outcome.

And if you do end up with some loose skin it's not the end of the world. Far better health-wise than being fat but with sleek looking skin. Avoid push ups without a shirt and the missionary position if you have loose skin on your stomach.

Unfortunately I think some people are unlucky and don't have much stretch in their skin, me being one of them. I do find moisturising reduces redness but overall you either get it or you don't.