I've read that it takes at least six months once you reach your goal weight for the skin to go back to normal if it's going to. I've also read that it doesn't really matter how fast you lose the weight, your skin only has so much elasticity and if you've exceeded it, it's not going to spring back to normal.
My husband lost 80 lbs and he has stretch marks on his stomach, but they're very close together compared to how they used to be, faded to thin white lines, and he doesn't have saggy skin. He lost the weight 10 years ago.
I've lost 125 lbs and I have saggy skin everywhere. I'm still in the process of losing the weight and don't know what it will look like when I'm done but it probably won't be pretty.